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Talking about casino stock market, today's plunge of the Chinese markets (-9%) may well announce the beginning of a bumpy road, with saw-like graphs well into 2010.
Fundamentals are something that it is terribly unwise to play against as the Chinese Gov. just did with their foolhardy credit rain. The pound of Keynesianism is going to be expensive in the next few months, I'm afraid.
In any event, bad news.
This is nothing man.,it is complete normal for the Chinese market. It is a just crazy roller coaster. Go up several folds then crash all back is fairly normal part of Chinese stock market. The only difference being that in latest one people here actually paid attention to it.
Some history:
On 1990-12-19, Shanghai open at 96.05 which it began two year rally until it ended on 1993-02-26 when it touched 1444.05; then it dropped 333.92 on 1994-07-29; then in a swift rally in late 1996 shoots back to 1250 on 1996-12-09 from holding point around 600.
From that point it slowly inches to 2242 in 2001-06-07 before crashing to 1020 on 2005-07-19 where it stayed there for the rest of the year. Only then, the chart in the article comes in on the great rally of 2006-2007, and great crash of late 2007. So it isn't second time lucky, but Nth time lucky, and N goes into infinity.
The conclusion...Chinese market to fun place to gambler and speculators, but it's a heart breaking place for the regular investors.
The major problem is that there are so few investment options for the average Chinese person. Put your money in the bank, and you go backwards. My Chinese friends here often have two or three apartments (believe me, many are lao bai xing, common people)and purchase shares without doing any real research. Also, very few Chinese investors have long-term goals, and most doubt the accuracy of company financial statements and govt. stats.
In the last post I wrote "...they have a firm conviction of the convenience of their systematically governing ("orienting" if you prefer)."
Of course, I meant:
"...they have a firm conviction of the convenience of their systematically governing ("orienting" if you prefer) the market."
What worries me most is that I have the uneasy feeling that, first of all, the Chinese Gov. is still a very far from understanding the logic of the markets, above all in a critical tornado-like situation like the one one we are these days living in. Then, secondly, they have a firm conviction of the convenience of their systematically governing ("orienting" if you prefer). If a Barack Obama does it, why shouldn't they?
Marx and Keynes (with more than a few drops of Hjalmar Schacht) make for a dangerous cocktail. No, it's not enough to shower tons of money on the economy to cause a sustainable recovery out of a global recession. Of course, you can always turn your stock market into a casino and compete with Macao...
I give the rally two months.
To Paul from Northern Virginia wrote:
"There is virtually no other country in which stock prices are so comprehensively meaningless."
Hi Paul, it's hard to define meaningless right? I am thinking about the comment given by your guys, after all chinese stock market is only 20years, it's still a child compare to DJI and other remarkable markets. Some critisize ccp manipulate the market, let me remind you that it's not possible, now the market value is so big that CCP can't control anymore. The market full of players like fund, insurrance money, invisible money like foreign capital(not QFII, it's only 30 billion in official, the actual money it's at least xx times) and private investor. It seems like the market is decide by a kind of composition of forces. Each party plays their role in the composition of forces, some make wrong judgement and lose money, they appeal the market is not fair. As a Chinese culture to give a comment is that:"You want make profits but beening afraid of take any risks, it's a kind of weak culture" It looks like the western words "win like a man and lose like a man".
Another thing is that I am sure that chinese stock market plays a role of allocating capital to those who need. Otherwise where the money go in the IPO? After the financial crisis all markets collapse during 2008 and rebound in 2009. It looks like spring, the more you extrude, the more rebound it does. Not the prejudice like manipulation.
We would like to disscuss and exchange opinion with each other not just simply accuse.
If some people want know more about the market, maybe I could try to tell more :) Have a nice day, guys.
Are not all of Chinese businesses just extensions of the Chinese government?
I don't mean the old MITI and zaibatsu Japanese model. Rather, don't party officials just directly/indirectly run the oil, telecom, banks, and most/all other large/medium sized corporations?
Trading in communist China is purely transactional, right?
Please help.
@ happyfish18 wrote:August 30, 2009 4:56
["The CCP should start raising the Chinese living standards and wages and stop using low wages for export purposes."]
I can't help to notice that you have made the suggestion more than once here. Although it meant well and it worked for Singapore, in one gulp almost overnight, years ago. At a population size of some 1,330 million vs. Singapore's 4.6 million (even smaller then), the complexity and risk involved can be monumental in so doing.
A more prudent way is the present way: Gradual increase of cost for better protection of labor force (work hours, insurances, minimum wages etc.) and let the market to do wage thing.
And like with the stock market being addressed here, watch out and beware of any "great leap forward".
The stock market is symptomatic of Chinese to get rich. The CCP should start raising the Chinese living standards and wages and stop using low wages for export purposes.
@JollyRoger: The Chinese government plays heavily in the stock market and effectively creates winners and losers. (I know: how different is that from the behavior of any OECD economy in the downturn?) I nevertheless think of the observation of Harvard Business School Prof Tarun Khanna, summarizing the market monitoring work of Randall Morck and Bernard Yin Yeung (who document that, on any given day, Chinese stock prices move in tandem, like flocking birds, rather than in the typical pattern of about half going up and half going down):
"There is virtually no other country in which stock prices are so comprehensively meaningless."
A big Mah Jong game.
The Chinese market is only 20 years old. What did the British/American market look like when it was 20 years old? They too had massive bubbles and yet they still do. A lot of bubbles were for things much worse than the current Chinese situation.
So, if markets commonly have bubbles, then how can they be efficient allocators of capital? Giving money to a gold miner that changed itself to a Dotcom is not what I would call an efficient allocator of capital.
"Why is it that no one is talking about all that easy money flowing into our stock market to feed this new bull market, which has risen 50% since its low in March, despite weak economic fundamentals?" -- Bailout Nation
Have you heard of a thing called the plunge protection team? It's a working group of government officials created by Reagan to "advice" on such things as market crashes nd such. You can google it to get an idea of what I'm talking about.
Although the PPT is never supposed to manipulate the stockmarket, there is statistical evidence of late that someone has been buying up index futures to prop up the market. This is easier done during the summer when trading volume is much lower than usual and thus it requires much less effort for the PPT, or whomever it is to prop the market up.
Still, this is conjecture, just watch the market. Or if you have access to historical data, you could see that when the market dipped, someone comes in during the last hour or half hour of trading in New York and buys up the indices. This has been going on since maybe mid-May.
Some people think that this is actually a better way to stimulate the economy than increasing the money supply -- supposedly less problem of inflation and the government actually makes money. But of course in that case, the stock market won't be providing any effective market signals for allocation of resources.
@ Bailout Nation
Good point about the easy money feeding our bull market...I dont think the market fundamentals justify the rise in America at all!!! This level of instability/obvious inflation in the market is counter to the best allocation of resources and makes me keep my money at home.
I like the info about China with the feedback about why things may be progressing as they are. More openness than The American stock market opinions.
"The job of a stockmarket is to provide useful signals to help allocate capital. However thrilling, China's market is a long way from doing that."
-- and the Dow/S&P is doing a great job of that, right? First the dotcom bubble, then the real estate bubble...such useful signals to help allocate capital.[rolleyes]
BTW, each of those 2 bubbles in the US were preceded by the Fed printing vast amount of money to bailout Wall Street. Now we are in the same situation, with the Fed printing money like crazy buying up all the treasuries so we can bailout all the failed banks, which have reached record numbers. Why is it that no one is talking about all that easy money flowing into our stock market to feed this new bull market, which has risen 50% since its low in March, despite weak economic fundamentals?
People who live in glass houses shouldn't throw stones.
To what extent is this rise due to an oversold problem? For instance, taken in isolation US equities have risen too much to justify their prices for their valuation over earnings. But some of it is just cash coming back in from their being parked safely in treasuries when the market was irrationally selling off last autumn.
Actually the sort of volatility in China is a hedge fund manager's dream -- if it's a proper hedge fund, that is. Too bad foreign money cannot play a role here in helping to stabilize the market.
Incidentally, are there alternative securities (not savings accounts) that allow Chinese Cash to "park" when times are tough? Is shorting the market allowed? Are there warrants or options available on these equities?
I think you mean to say that Chinese equities are up more than 70% from their low last year, not up 70% this year. (More like 50% if you are talking ytd)
Goya's drawings: Album of the year
The American economy: Steady on
Free exchange
Investing and markets: Get your income here
Buttonwood's notebook
Daily chart: Korea opportunities
Graphic detail
Adultery in South Korea: Dead scarlet letter
Exceptionalism: The divine purposes of America and Russia
Victorian sculpture at Tate: Mind-boggling things
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148Apps Review Summary
Our Rating: :: MINDLESS FUN :: Read Our Full Review >>It's certainly no mini Mass Effect, but Infiltrator just might be the best cover shooter on the App Store.
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Kick more MASS! We've made some updates to make navigating and fighting your way through Cerberus even better.- Connect an external controller to the iPhone 5 for console-style gaming
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THE FATE OF THE GALAXY LIES IN THE BALANCE! From the makers of the critically acclaimed Dead Space on iOS comes an all-new, original Mass Effect storyline 'Äď made exclusively for mobile! Optimized for the new iPad, discover high-resolution gaming like never before! Now with a new manual aiming option and Turian bonus mission.This app offers in-app purchases. You may disable in-app purchasing using your device settings. See http://support.apple.com/kb/HT4213 for more info
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Cash management provider Loomis has signed a deal turning over ATM technical service operations to NCR in the U.K. Through the agreement Loomis will purchase the services from NCR to continue offering its bank customers service for their ATMs.
In total the deal will affect 150 technicians, who will now be employed by NCR.
This transaction is the beginning of a process of efficiency improvements for the U.K. operation. Kenneth Högman, regional president northern Europe and country president for Loomis UK Ltd, will lead the effort, Loomis said.
"This agreement gives us a partner with a strong technical service organization operating throughout the country. Together we can offer our customers a unique service concept for ATMs," said Högman.
Read more about outsourcing.
Topics: Logistics / Transportation , Outsourcing , Vault Cash / Cash Management


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Contact Sports Desk: Call: 603-516-2949 / E-mail: email@example.com Victorino keys Red Sox in extra innings
Wednesday, August 14, 2013
TORONTO (AP) — Shane Victorino hit a two-run single in the 11th inning and the Boston Red Sox beat the Toronto Blue Jays 4-2 on Tuesday night.
Recalled from Triple-A Buffalo to face the Red Sox in his first Blue Jays appearance since Aug. 2, Todd Redmond allowed three hits in 5 1-3 shutout innings. He walked one and struck out five.
Ellsbury went to third on Victorino's grounder and scored on a base hit by Dustin Pedroia. |


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Dynaudio Excite X36 user reviews
The latest model in Dynaudio's Excite range fails to get our juices flowing when pitted against its rivals Tested at £2225.00


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U.S. Coast Guard Silver Tone Pocket Watch - W000711 - Men
Featuring the U.S. Coast Guard Seal on the dial and "Semper Paratus" inscribed on the caseback, this men's military pocket watch is a gift he'll treasure. Comes in a gift box.
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- Dial: white with black hands & Arabic numerals
- Water resistance: splash resistant
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- Model no. W000711
- Face cover: mineral crystal
- Case material/color: silver tone
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- Case dimensions: 51-mm diameter
- Chain length: 15-in.
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Alright, alright, you win! went to the store last night and picked up some Styrian Goldings, Saaz and a vial of WLP530, WLP550, and WLP570. I'm going to try and track down a vial of WLP500 as well, but my LHBS didn't have it, I'll have to go check out a different one. My plan is to make a 5 gallon test batch and split it into 1-gallon batches to test which yeast I like better. Then, which ever one wins, I basically just made a 1-gallon starter for the big show so I'm ready to go on the 10 or 15 gallon batch! I'm going to just make a super simple recipe for the test, 12 lbs of 2-row pale (it's not authentic, but I have it on hand leftover from my last bag, so might as well use it), and 2 lbs of turbinado sugar. Should get me in the ballpark where tasting the yeast will be easy, and from there I can decide if I want to go Tripel or BGSA depending on which yeast I like the most.
I'm about to pitch WLP530, 545 and 570 into my BGSA/Tripel hybrid...
Be sure you can maintain a low temp for all those vessels. I like to keep them in the low to mid 60s for most of the primary fermentation and raise the temp as the yeasties start slowing. This will hold back unwanted fussels these yeasts will produce at higher temps.
Raising the temp at the end will actually be the challenge. I have a 7.1cuft chest freezer with a Johnson controller for early fermentation, but raising it at the end... it's November in Colorado out here, my house is almost never even warmer than 70. I might have to use my aquarium heater in a big tub with the carboys partially submerged in water. Everything I've read is to pitch at about 65, then raise it to about 85 fairly linearly over about 5 days. Sound reasonable? I definitely don't want fusel alcohols in there, it's a very Unappealing flavor. I almost poured out a bottle of Orval last week because the solvent flavor was so strong.
I have a two stage Ranco. For heating, I use a hair dryer to heat the chest freezer. Works great. I just use the hair dryer on low. It turns on and off as needed. Been using that system for three years now and works like a charm. When I'm only using one demijohn (like a carboy), I use one of those heat belts. But a hair dryer works well to control the temp in the fermentation chamber, which is useful for these multiple fermenter situations.
This will work as well. http://www.homebrewtalk.com/f51/ferm...-cheap-289120/
Hmmm... I don't really want to spend another $60 on a second temp controller to run the heater. Any ideas that don't involve a second controller? I wonder about just using a space heater with a built in thermostat....


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Accent Chair
What could be classier than the stateliness of this elegantly designed transitional armless chair, featuring a historically inspired allure. A calm soft fabric enlivens the playful pattern and provides a tempting respite from your daily rush. Enjoy this chair in the comforts of any room in your home.
Finish: | Black | |
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Accent Chair Design Features Accent Chairs can come with several different features. Narrow down your results by the function and style of the chair. Look for exposed wood, tufted cushions, recliners and many other features by using this filter. | Accent Chair Design Features | Ready to Assemble (RTA) |
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The Accell AVGrip Pro High Speed Locking HDMI cable features locking connectors which have a hold on the HDMI port many times greater than a conventional HDMI cable. The AVGrip Pro HDMI cable will eliminate picture loss commonly caused by a loose or disconnected HDMI cable. The AVGrip Pro's connectors lock into any HDMI device, ensuring that the cable stays in place. When the locking connector is inserted the built-in lock automatically engages. To release, simply pull back on the cable's spring loaded connector cover to unlock and remove the cable. There are no buttons to press or screws to turn.
The AVGrip Pro cable is fully compliant to the to the latest HDMI 1.3 Category 2 specification. This High Speed HDMI 1.3 cable supports Deep Color technology, DTS-HD or Dolby True-HD high-definition (HD) digital audio formats and automatic audio and video "lip sync" capability. The AVGrip Pro cable supports all HD resolutions including 1080p and an overall bandwidth of up to 10.2 Gbps (340 MHz). This cable transmits an all-digital signal providing the highest quality picture and sound. This high-performance High-Speed cable is designed to eliminate signal degradation for superior audio and video reproduction. The 100 percent foil shields and high-density metal braid reject electromagnetic (EM) and radio frequency (RF) interference, and the UltraFlex jacket provides easy routing and protects the cable from deformation. This cable features HDMI connectors and contacts with extra-thick 24K gold-plating for a solid, corrosion resistant connection providing maximum audio and video transfer. The Accell AVGrip Pro High Speed audio and video cable works with all HDMI devices. The locking connector is fully compatible with all HDMI products.
Additional Info
Additional Info
Manufacturer | Accell |
Model Number | B104C-007B-40 |
Length | 7.00 |
Width | 10.5 |
Height | 3.00 |
UPC Code | No |
Condition | New |
Color | No |
Size | No |