Remember when Stevie-girl quoted that article in The Economist about how worrisome China was because it's growth was a mere 6-7% a year and they were, rightfully, worried about this dangerously low growth rate that is?
Well it appears, for some irrational reason the Shanghai Composite and those exchanges linking to it are not worried. The index closed above 3000 last night, put it up around 50% YTD and about 25% since The Economist and Stevie-girl's prophecies of DOOM.
WTF is going on here? I thought when Stevie-girl quoted something he always made sure it made sense and was first rate and he, definitely, is very well qualified to know this. After all he spends 1-2 to minutes a day googling and cherry picking headlines to confirm (to those already predisposed to want to believe) his notions of DOOM. How come investors just don't see it like he and The Economist do?
Replies (12)Latest
Careful Doug, you might make him Shangry.
Nice!
Lol
Absolutely DOOMED! Because Stevie-girl said so!
Shit...we need to pull our money out asap and run to the nearest atrip club and stuff a gstring full. Doomed I tell you
What the hell has been happening to the shanghai today?!
I'm hungry. Think I'll make me a Shang-which. Badupp tish!
^^^ if you want a Shang-which, meet me at the mine...Silver Mine Subs
Meat: down 5% last night. They excluded certain kinds of bonds as collateral over there. Biggest one day drop since 2009.
Absolutely DOOMED! Because Stevie-girl said so! (When CNBC started hyping buying into China on Friday you could kind of see a this coming.)
Too much political risk for me to consider playing that market, even though it ripples to us over here. Either way we're "Doomed"!
Meat72: "Either way we're 'Doomed'!"
Yep. Absolutely DOOMED! Because Stevie-girl and The Economist said so.
Looks like this DOOMED exchange/country had a 3% bounce back last night. Probably because stocks in the New York session, especially the NASDAQ, had a big bounce back after the overseas correction.
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