World Economy Crumpling NOW! Must see evidence of financial catastrophe in the making.
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World stock indices plummet. This is the first time I have seen ALL major indices go negative since the last big crash... The world economy stands on the brink of a second credit crisis as the vital transmission systems for lending between banks begin to seize up and the debt markets fall over. The latest round of quantitative easing from the European Central Bank will buy some time but it looks like too little too late. The second global credit crisis is now already unfolding in China some 6,800 miles away from the epicentre of the first in the US. The bonds of Chinese real estate companies are now falling like dominoes. Kaisa, a Shenzhen-based, Hong Kong-listed developer that raised $2.5bn on international markets had to be bailed out by rival group Sunac last week after it defaulted onits debts. The bonds of other Chinese real estate groups such as Glorious Property and Fantasia have also sold off heavily as the contagion spreads. Chinese authorities have responded to try and contain the situation. The People’s Bank of China introduced a surprise 50-point cut in the Reserve Requirement Ratio (RRR) from 20pc to 19.5pc. But this misses the point, the credit system in China is completely unsustainable unless new money is printed every year to refinance the old, simply tinkering to ease liquidity won’t cut it. The strain in its banking system is highlighted by the elevated levels of the Shanghai Interbank Offered Rate (SHIBOR), which shows Chinese banks are worried about lending to each other. There is no schadenfreude in watching China unravel. The idea that this is an isolated incident is laughable, remember the very same was said of US subprime. The problem is that banks such as Standard Chartered and HSBC have both rapidly increased their lending operations in Asia since 2008.
Comments
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just my $0.02
its a "market correction". the chinese had rigged the game so (just like in the great recession and the great depression ect. before it) a bunch of money disappeared. or to be more specific: a bunch of money(prosperity) we thought existed didnt. effectively the chinese government confirmed to a bunch of people that what they own isnt worth as much as they thought it was. they were lied to and we miscalculated a bunch of resources. a lot of people (everywhere; since the economy is now globalized) made a bad investment. the new numbers (after everything dropped) better represent reality. even now some of the wealth on the global balance sheet is imaginary. we wont know for sure until someone checks to see if its there. ofthen this happens when someone tries to sell something thats over-valued and cant. bubble. pop. -
I am a chief analyst in the currency markets. US will collapse @ tmrws NFP report, go run and hide yourself in the desert b4 shit goes down.
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The Nasduq went form over 5,000 to under 1,000. And no one even blinked. When the market drops 50% to 75% in one day that will be news.O and the Real Estate market lost 60% of it's value and no big deal.
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After the last big crash their seems to have been two groups of people. Those that invested in PM's and got their buts kicked and those that invested back in the market and real estate and made a killing. I think it is sad that so many on the PM stacking community think it is a one or the other decision. You need both! All this doom and gloom sales strategy has lead PM stackers down a very bad path. Some seem to be hoping for the markets to crash?
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Things are going to be reduced to the very basics. Water, food, fuel, tools, clothing, shelter, medicines, allies and preparation. For me? CHRIST first, the needs of this world second. Sleeping on watch is not optional.
It is we who decide what is intrinsically valuable, but keep in mind a quote from Ayn Rand; 'You can ignore facts, you just cannot ignore the consequences of ignoring facts.' -
I'm trying to remember, which number QE are we up to now?
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NOT ALL INDICES WENT LOWER.
BELOW IS THE SHANGHAI INDEX
SSE Composite Index(SHA:000001)
4,287.30
+92.47 (2.20%)
Apr 17 - Close
SHA data delayed by 1 mins - Disclaimer
Range 4,238.91 - 4,317.22
52 week 1,844.09 - 4,317.22
Open 4,254.72
Vol. 701.71M -
i think its too soon, if they all come back it will prove that all markets are rigged and they are playing with us. its too soon , back end of the year im gussing . lets see if they all go back up next week.
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Buy gold.
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pop goes the bubble!
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Well, it appears we may have found the limit on how many ghost cities can be built before it all collapses.
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The DOW will be back up over 18000 points by next Friday Wall Street is the biggest rigged casino in the world..this is Obama's Market..Plus the bankers own Obama
6m 2sLenght
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