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Shanghai stock market CRASH

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  • I fight with a few people when they're wrong. . .or for fun. This time both. Anyway, who are you?
    “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
    "Capitalism ho!"

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    • I don't want to read your inane conversation. Why don't you summarise it for me, TaShi?
      Eventis is the only refuge of the spammer. Join us now.
      Long live teh paranoia smiley!

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      • Only if you change your avatar.
        “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
        "Capitalism ho!"

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        • Your inability to negotiate in good faith forces me to terminate this discussion.
          Eventis is the only refuge of the spammer. Join us now.
          Long live teh paranoia smiley!

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          • Aw.
            “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
            "Capitalism ho!"

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            • I thought the following front page Sunday WaPo article gave a pretty good overview. Here's the intro...

              China's Quirky Stock Market Finally Matters
              Its Problems Become the World's

              By Ariana Eunjung Cha
              Washington Post Foreign Service
              Sunday, March 4, 2007; A01

              SHANGHAI -- Looking at the facts, the past year seems to have been disastrous for Worldbest Pharmaceutical. First, there were reports of accounting irregularities and exaggerated profit. Half the managers were fired. Then, in the summer, six people died and at least 80 fell ill after receiving an antibiotic injection manufactured by a subsidiary. Most recently, the company warned investors that it was likely to report its third consecutive year of losses.

              None of that cooled the enthusiasm of investors on China's Shanghai Stock Exchange, who since the end of March 2006 have driven the value of Worldbest's shares up 44 percent.

              The Shanghai exchange and its smaller counterpart in Shenzhen, near the country's extreme southern border, have long been viewed skeptically by global capitalists, even those enthusiastic about the broader Chinese economy. The markets were considered too new, too small, too closed and too quirky to matter.

              That attitude was put to a test last week when, for the first time, a big drop in the Chinese markets helped spark a global stock sell-off. Suddenly, it seemed, the views of Chinese investors mattered to the rest of the world.

              And as the Chinese government takes steps to clean up market practices and allow more foreign investments, the rest of the world's markets are likely to continue to feel its growing pains.
              The rest can be found here...

              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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              • As of 11PM ET, Hangseng and Nikkei are down a lot.

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                • Hoho! The entire Asian market is melting down.

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                  • New York was about to melt down on Friday before the market closed. Not surprising to see it spill into Asia.

                    The red is NASDAQ. I guess it's getting especially hard hit because even though profits are fat, nobody plans to do much capital spending.
                    Attached Files
                    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                    Comment


                    • Originally posted by DanS
                      I guess it's getting especially hard hit because even though profits are fat, nobody plans to do much capital spending.
                      But DanS aren't our wages suppose to increase when profits are fat?
                      I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                      - Justice Brett Kavanaugh

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                      • Vilnius today. I'm glad I got so little direct market risk.
                        Attached Files
                        Originally posted by Serb:Please, remind me, how exactly and when exactly, Russia bullied its neighbors?
                        Originally posted by Ted Striker:Go Serb !
                        Originally posted by Pekka:If it was possible to capture the essentials of Sepultura in a dildo, I'd attach it to a bicycle and ride it up your azzes.

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                        • Originally posted by Kidicious
                          But DanS aren't our wages suppose to increase when profits are fat?
                          Not if there's a lot of labour supply or increasing productivity / hour
                          Originally posted by Serb:Please, remind me, how exactly and when exactly, Russia bullied its neighbors?
                          Originally posted by Ted Striker:Go Serb !
                          Originally posted by Pekka:If it was possible to capture the essentials of Sepultura in a dildo, I'd attach it to a bicycle and ride it up your azzes.

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                          • MNF1L
                            I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                            • Heads are rolling in the banks' technology departments...
                              "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                              Ben Kenobi: "That means I'm doing something right. "

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                              • Dashie, could you be any more boring? Actually, you probably could. And the bit about me being an apologist for the Tiananmen massacre, you do realize only a fool would believe that.

                                Like I said, if you going to lie you either got to make it plausible, or at least make it funny. It's getting to the point where you're just becoming a waste of space.
                                Golfing since 67

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