July 08, 2015

How will China's catastrophic crash impact Canada and the world?

Rebel Staff
 

Let's put the Chinese stock market crash into historical perspective:

When the US stock market crashed and ushered in the Great Depression, it lost 25 percent of its value in two days.

China's just lost 30 percent.

China's recent economic growth has pulled hundreds of millions of people out of poverty and into the middle class. So what happens to them now?

A lot of China's growth was fake, a kind of mania.

The country is a corrupt, polluted, unstable, fascistic place as it is.

What does its downturn mean for Canada?


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Comments
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commented 2015-07-09 16:34:11 -0400
The China miracle was not quite the miracle was it. Now maybe some day the NYSE will come back to reality.
commented 2015-07-09 12:38:50 -0400
Oops. I put that comment on the wrong thread. Should have been on the one featuring the green tool and her exploited daughter.
commented 2015-07-09 12:36:20 -0400
Her sign was probably made of plastic, a oil by-product and it was mounted on a stick made of wood, you know, from a tree, a CO2 sink.
commented 2015-07-08 23:11:47 -0400
I have been told that crash of ’29 caused my grandfather to go from a house with servants to a tar paper shack almost overnight. I have read many analysis papers on the GD. I have heard many opinions on the matter….the one I liked best was from the movie “The Life and Times of Judge Roy Bean” . In the section that jumps from World War 1 to the Great Depression the narrator says…..

WHILE THE BOYS WUZ OVER FIGHTINKAISER BILL…..THE WOMEN NAGGED THE GOVERNMENT INTO GIVING THEM THE VOTESTRAIGHT AWAY THEY MADE DRINKIN’ WHORIN’ AND GAMBOLIN’….THE THREE THINGS THAT MEN MOST DEARLY LOVE TA DO…..ILLEGAL…..AND THEN THE COUNTRY WENT STRAIGHT TA HELL"………:-)

And actually that analysis is just as valid as any other punditry on the subject…….:-)

Assets do not evaporate..they change hands. …money is .nothing more than a signed promise to pay….the only thing that can possibly fulfil that promise is WORK…and the Chinese are very good at that.

Do you know why stock market down turns make the news? Because the days when people make money on the stock market just are not out of the ordinary. The most oppressive illiteracy in Canada is that schools do not teach people how to read those pages of numbers in the Globe and Mail.

If you have money to invest today is a good day to pick up bargains dropped on the floor.
commented 2015-07-08 21:54:45 -0400
Have watched some you tubes on the ghost cities, it is amazing and very creepy. China is a big question mark, for sure.
commented 2015-07-08 17:11:38 -0400
The 1929 stock market crash did not usher in the Great Depression if the intention is to say it was the cause of the GD.
The crash was the result of speculators large and small borrowing funds to buy into a margin fueled stock market bubble not unlike the recent great USA housing bubble mortgage swindles. The Harding administration that presided over the roaring twenties was very corrupt but was not on the leading edge of events like those that came later such as Clinton et al. One of my aunts was a brokers clerk then who had to relay margin calls to customers throughout the Black Friday weekend. Many of their margin accounts were sold out far, far below break even point in the torrent of selling and they were essentially being told they were financially ruined.
The Great Depression was a “Main Street Crash,” a separate economic event that was unrelated to the initial Wall Street Crash. It was caused by “experts” who came in on FDR’s coat tails to the sound of trumpets announcing all would soon be well. One of their initial prescriptions was the tightening of credit which was the worst possible thing anyone could do. These were leftists experts so while “1932” is posited as the lowest economic point of the Great Depression, the reality was that recovery only began in the late ’30s as the result of pre WW2 military related buying by Britain, France, and the USA itself. It is a fact that NYC property companies with 25/30 year leases signed by blue chips on NYC office buildings were still going bankrupt throughout 1945 -1955 because they could not re-lease their properties below late 1920s rent rates in 1950 and make enough to cover their financial commitments.
And where are we today?
commented 2015-07-08 16:27:53 -0400
Thanks for talking about China today… not much on TV… and, we are invested there. I wonder what it will mean for Hongcouver, BC… so much of it now owned by Chinese who don’t actually live here. Lots of vacancies. I’d heard that Vancouver was in a real estate bubble along with T.O. and NY… so many said that Vancouver wasn’t going to be affected if the bubble burst because it lived in another world. Well folks… that other world just got poorer.
commented 2015-07-08 15:45:56 -0400
China’s economic numbers are fraudulent and have been for years.

Like Russia going all out to win gold medals in the 1970s and 80s at the Olympics, China spent most of the last ten years building stuff that no one needed – including entire cities – go check out youtube for some fun views.

China is a pile of goo and the world’s media will have no choice but to report it very soon.