“It's quite positive for the market and will help attract fresh capital into equities.” –Wu Kan, fund manager
China LOVES the short selling.You know you're FUCKED when the commies are capitalists and the capitalists are commies.
China Allows Short Sales, Margin Loans to Help Market (Update2): “China's cabinet agreed to let investors buy shares on credit and sell borrowed stock to help develop Asia's second-largest market after prices and trading volumes slumped, an official familiar with the plan said.
The State Council signed off on a China Securities Regulatory Commission plan submitted this month to allow margin lending and short selling, said the official, who declined to be identified as he isn't authorized to speak on the issue.
China's action contrasts with regulators in the U.S., Europe and Australia that have banned short selling in the past week to shore up financial shares battered by the global credit squeeze. China's government is betting the changes will boost trading without spurring further declines after state share buybacks helped the CSI 300 Index rebound from a two-year low.”Hahahahahahahahahaha...
In other news, China’s first space walk is planned for Saturday: China Astronauts Braced for Walk.
The torch has been passed.
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8 comments:
u erased my last hyperinflationary comment
but i have no hard feelings
your latest post and pictures made me laugh for 10 minutes
thanks!
"Its all contained,
right here,
in our pockets
best regards
Hank, Ben, George
hbg,
I did? I don't erase anything, expect accidental double posts.
Sorry if I messed up.
In only 30 or so years, we'll go from the U.S. being a rich, educated, space faring country where everyone drives and China being an uneducated, dirt poor substinance-farming, bicycle-riding, backward country, and swap places.
Simply amazing.
-DaveP in Pgh PA
Ha, funny article Ninja, made me laugh, love the intro. Check out my blog lunch is for wimps (name) and see if i can return the favor. Hmm maybe this pitiful stab already has eh, but seriously great minds think alike, and sir, I think you have a good writing style, and I know I do ;) Please let me know what you think, Id appreciate it. Keep banging em out Ben
Hilarious! This is gonna be one of your most popular posts alongside 'Really scary Fed charts'.
Where do you see all this carnage end ? A year ? two? ten? S&P 900? 760? .. uhm.. 390??? (ha.. gotcha - not even you could be that bearish)
T-dub
I didn't like this post nearly as much as the Really Scary Fed Charts...
With the exception of Shanghai and Hong Kong, most of China (within 5 miles of these metropolitan areas) still exists in the pre-industrial revolutionary world. If you believe their propaganda machine, just take a trip over there...Pudong is phenomenal, but underneath the lipstick and pancake makeup it's still a totalitarian communist whore-of-a-nation...
The boys parents need to be slapped.
Geez, I just hope for those astronaut's sake, they manufacture that spaceship better than they manufacture refrigerators. Chinese Baby Milk anyone?
LOL!! Great juxtaposition, bro'.
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