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Old 24-08-2015, 02:13 PM   #1
anthonyml
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Default Chinese stock market plummets 8%

‘Black Monday’ on Chinese stock market as shares plummet by more than 8% and the world’s second biggest economy continues its freefall
Chinese stocks plummeted in a ‘Black Monday’ crash that saw the worst day of trading since the start of the global financial crisis eight years ago.
A dramatic fall today has sent the global market into panic, on the heels of last week’s serious losses.
The Shanghai index crashed more than 8 per cent in morning trading, effectively shedding all its previous gains for the year.
The fall has spanned every corner of the market in China, the world’s second largest economy, with small-cap growth stocks and state-owned blue chips dropping at roughly the same rate.


Read more: http://www.dailymail.co.uk/news/arti...#ixzz3jk2tHliM
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Could this be the start of the predicted September crash ?
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Old 24-08-2015, 02:58 PM   #2
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I was sort of expecting that, after reading this before the weekend.


Quote:
http://www.nytimes.com/2015/08/22/bu...-day.html?_r=0
Stock prices around the world continued to plunge on Friday, threatening to end one of the longest bull runs in the history of the United States stock market.

A searing six-year rally in United States stocks had advanced into the summer months, shrugging off challenges like the dispute over Greece’s debt that nearly led to the country crashing out of the euro. But in the last two weeks, world markets tumbled as investors grew increasingly concerned about economic conditions in China, which unexpectedly devalued its currency last week, and the outlook for the economies of other large developing countries.

As the selling accelerated Friday afternoon, some benchmark indexes were at or near 10 percent below their recent peaks — a “correction” in Wall Street parlance. “This is likely going to go down as the first meaningful correction in four years,” said David Rosenberg, an economist and strategist at Gluskin Sheff.

Sell-offs in the financial markets need not cause harm in the real economy. In many cases in the postwar period, the United States stock market has recovered after reacting negatively to problems overseas. Strong employment numbers and other economic indicators suggest that the United States economy remains resilient.

Still, fear in financial markets can feed on itself. And the declines in the markets are coming not only as China struggles, but also as the Federal Reserve is winding down its huge stimulus efforts. Trillions of dollars of cheap money from the Fed has fueled economic growth and helped push markets higher around the world. Now, the question is whether the world can stay on the recovery path without the Fed’s largess.
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Old 24-08-2015, 03:04 PM   #3
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This is all hype by people who want to sell news papers...Look at the 1 year graph



This is just a correction , prices are still nearly double what they were a year ago, and still need to fall further
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Old 24-08-2015, 03:17 PM   #4
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U.S. Stocks Fall as Exchanges Open; S&P 500 Index Loses 3.4%

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U.S. stocks fell at the start of trading, as measured by the Standard & Poor's 500 Index, at 9:31 a.m. New York time.

The S&P 500 dropped 3.4 percent to 1,903.41. There were 0 stocks that rose and 145 that fell. Apple Inc, down 11.1 percent to $94.07, led the decline. The Dow Jones Industrial Average fell 3.3 percent to 15,924.66. For the year, the S&P 500 has lost 7.6 percent. The Dow has dropped 10.7 percent.

Apple Inc dragged the S&P 500's value down by 7.63 points, more than any other stock, followed by General Electric Co. at 3.08 point and Microsoft Corp. at 2.94 points.
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Old 24-08-2015, 04:14 PM   #5
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Dow falls more than 1,000 points on opening after stocks tumble worldwide

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The Dow Jones industrial average plunged 1,000 points at the opening Monday as the U.S. stock market extended a rout that followed severe market declines in China and elsewhere in Asia and Europe amid growing worry about China’s economy.


The blue-chip industrials edged somewhat higher after the opening bell but were still off 650 points, or nearly 4%, at 15,840. The average has now skidded more than 2,400 points, or more than 15%, from its record high 18,312.39 set on May 19.
http://www.latimes.com/business/la-f...24-story.html?


Today's Historic Market Open, Caught On Tape



http://www.zerohedge.com/news/2015-0...en-caught-tape
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Old 24-08-2015, 04:17 PM   #6
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Jesus Wept.......

Stocks and shares are just numbers on a screen that people manipulate to make a 'profit' or 'loss'. They are only worth what someone will pay for them so if those numbers can be forced downwards and a certain someone uses non-existant 'money' to 'buy' more figures on a screen hoping those figures will go 'up' in 'value', they will make 'profit'. In reality its all bollocks dressed up to look important.....
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Old 24-08-2015, 04:18 PM   #7
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Looks like the made up figures on computers in stock exchanges for people trading future made up things could have an impact on the made up figures at the banks, potentially affecting their ability to create money out of thin air, which could then lead to central banks needing to create more money out of thin air to bail the banks out.

All sounds far too grown up for us plebs to understand. Shall we just keep buying shit we don't need instead?
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Old 24-08-2015, 04:22 PM   #8
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Quote:
Originally Posted by anthonyml View Post
[B]China, the world’s second largest economy

I type into google "China, worlds second largest economy" and "USA worlds largest economy", and i cannot find anything that supports this.

All i can see is pages and pages of links saying that "China" is the worlds largest economy.

Also hardly a free-fall.
The devaluation of the Yuan just means that items that were 99p are now 94p.
This means more people will buy from China, and from nobody else.

However China can afford to do this, they only pay their labourers £2 per hour anyway.
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Last edited by blackyblue; 24-08-2015 at 04:37 PM.
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Old 24-08-2015, 04:32 PM   #9
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Quote:
Originally Posted by the worm that returned View Post
Looks like the made up figures on computers in stock exchanges for people trading future made up things could have an impact on the made up figures at the banks, potentially affecting their ability to create money out of thin air, which could then lead to central banks needing to create more money out of thin air to bail the banks out.

All sounds far too grown up for us plebs to understand. Shall we just keep buying shit we don't need instead?
Genius!

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Old 24-08-2015, 04:50 PM   #10
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So whats really happening ?
Years back traders used to place buy and sell orders by shouting it out.

Now its mostly done in nanoseconds by computers.

Problem is the PTB want to crash the world economy for various nefarious means, but these pesky auto balancing computers are ruining it.



They tried crashing the banks, back in the mid naughties, and that didnt work!

Corruption was allowed to go mostly unchecked in the hope that someone would do the trick!

So now they are turning to the true standard of most economies and that is oil.

Notice how petrol and diesel prices are v-low at the moment, its not the oil companies being good guys or they suddenly have a whole load more oil, the only purpose of the price drops is to destabilize the economy.

Slowly but surely its working hurah for them, woe for us!
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Last edited by babybumasylum; 24-08-2015 at 04:51 PM.
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Old 24-08-2015, 06:43 PM   #11
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I,ll just leave this here

Stock up on canned food for stock market crash, warns former Gordon Brown adviser

Quote:
“Advice on the looming crash, No.1: get hard cash in a safe place now; don't assume banks & cashpoints will be open, or bank cards will work,” he tweeted.

“Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.

“Crash advice No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to.”


http://www.independent.co.uk/news/uk...-10469509.html
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Old 24-08-2015, 07:38 PM   #12
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This is certainly worth keeping an eye on and I will be, if the markets are all still in the red by this Friday then I'll really be concerned!
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Old 24-08-2015, 07:48 PM   #13
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China manufacturing and exports data have been dropping like a stone of late. Europe, us and west buys their shit, so it would imply its the western economies that are in the real trouble?
Which of course indicates they been cooking the books to con every one there is a recovery..when there obviously isnt.

looks like those crazy conspiracy theorists were right on this one?
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Old 24-08-2015, 07:58 PM   #14
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Does this mean my chicken kung po is going to cost more?
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Old 24-08-2015, 08:03 PM   #15
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Quote:
Originally Posted by alf hearted View Post
Does this mean my chicken kung po is going to cost more?
No, it should cost less, so long as the chicken is killed in China.

However everyone flocking to purchase Chinese cheap offers will effect them negatively in the longterm.
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Old 24-08-2015, 08:05 PM   #16
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Quote:
Originally Posted by alf hearted View Post
Does this mean my chicken kung po is going to cost more?
Are you sure thats chicken your eating?
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Old 24-08-2015, 08:12 PM   #17
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Shipping rates have crashed the last few weeks, cheaper to pay for a container to be shipped than it is to ship a container..wont be much coming from china if that keeps up?

What would happen then?
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Old 24-08-2015, 08:13 PM   #18
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Quote:
Originally Posted by the worm that returned View Post
Looks like the made up figures on computers in stock exchanges for people trading future made up things could have an impact on the made up figures at the banks, potentially affecting their ability to create money out of thin air, which could then lead to central banks needing to create more money out of thin air to bail the banks out.

All sounds far too grown up for us plebs to understand. Shall we just keep buying shit we don't need instead?
Never the less its still a system we are all tied to.
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Old 24-08-2015, 08:17 PM   #19
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This is much bigger than china crashing, this is it, the big one and why I'm back after a hiatus!

Oil is the only universal currency and pretty much the replacement for the gold standard, when you devalue every economy by devaluing its "standard" or in this case oil, you end up with big crashes happening all over the place.

Watch the next few weeks as all the big players fall and fall, i just hope i'm wrong!
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Old 24-08-2015, 08:20 PM   #20
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Quote:
Originally Posted by alba67 View Post
I,ll just leave this here

Stock up on canned food for stock market crash, warns former Gordon Brown adviser



http://www.independent.co.uk/news/uk...-10469509.html
Go buy stocks in Campbell's soup!
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