China Stock Markets Plunge

[errolanderson]

Oh, oh . . . China stock markets heaved
nearly 3% overnight, the worst showing
in 4 months.

British data overnight shows their
economy is contracting (recession).

U.S. home prices are surprisingly still
under downward pressure.

U.S. durable goods order released this
morning showed a 2.2% jump, but trade
was expecting about 3%. U.S. economy
growing, but at a slowing pace?

Errol

[Hopperbin]

Hey anyone got a site that they look at for European or and Chinese stocks?

[Hopperbin]

According to this site Chinese corporations have been screwing western investors for at least 5 years.

[Hopperbin]

Ooops forgot to post site.

http://www.bloomberg.com/quote/SHCOMP:IND/chart

[Hopperbin]

Going back 12 years does not look good either.

http://finance.yahoo.com/q/bc?s=000001.SS&t=my&l=on&z=l&q=l&c=

[Hopperbin]

Sorry Errol for leaving so many possibly useless posts. I am now stuck on Van Ecks mutual fund site that shows their obviously best ever return over a couple years and when I try to change the date it always goes back to the best ever time to invest.

http://www.vaneck.com/Chart.aspx?tkr=EMRYX

[ColevilleH2S]

Shades of [URL="http://www.bloomberg.com/news/2011-08-26/sino-forest-executives-ordered-to-resign.html"]Sino Forest[/URL] Batman!!!

[Hopperbin]

I damn near bought Sino only 2 days before the trading halt. You can ask any Chinese or Philipine immigrant about Sino and they all know them, they are huge and most likely have every acre of tree that they claimed. They are refusing to show their books cause they want to walk away with millions, I think they are just screwing the west plain and simple.

[ColevilleH2S]

When the SHTF with Sino I decided it was a good time to average down. Stupid,stupid stupid.

Oh well. The lesson learned; "do not invest in China."

[Hopperbin]

When the shit hit the fan SHTF you likely did the right thing. You can go to China and listen to hi ho yung fung you don't learn shit. All I know is the Ex 's chinese stocks are still doing good. Now are they traded on the Hangseng or Hongkong as index?

[Hopperbin]

Some dink turned the stick welder off

http://www.bloomberg.com/video/84128896/

[errolanderson]

Feel very uneasy about China these days.
Believe banking problems are much bigger
than most imagine. Hopefully, not Wall
Street ll meltdown, but realistically
how much experience does a communist
country have with run-away capitialism.

Believe soft landing recession in the
cards with a hard landing possible if
the government doesn't handle this well.

This will impact the commodity world and
the Cdn dollar. That's why this thread
was shot out this morning.

Errol

[bucket]

The chinese have been using the market for more generations than north america has existed. Communist yes, stupid no.

This may be another marketing tactic in their arsenal.

[Hopperbin]

I really don;'t think the melt down is as bad as people think. For one the ex owns 4 housing units that were paid for in cash. no need to go with a bank loan. not counting the half million she took out of me cause our law enforcement has no juristiction out of country then she worried about gas mileage and cost of 30 to 60 grand for purchase, now I gotta drive her to Saskatoon and test drive some shit toyota.

[Hopperbin]

I am thinking the difference of China and North America is the debt, Chinese have cash when the buy something, we have the bank loan.