Quote:
Originally Posted by burn_this_city
Starting to wonder if the 150% pump and dump in China isn't a bigger deal than the Greek sideshow. Almost half the stocks trading in Shanghai have a trading halt by the government to prevent a panic drop. This to me has a much larger implications to the world economy than 10M Greeks grifting the EU.
The biggest problem is the flood of mom and pop retail investors flooding the market. If these people get crushed there goes any chance for a soft landing to their slowing economy. China needs people to start switching the economy to a consumer driven one, hard to do when they lose their savings.
http://www.bloomberg.com/news/articl...rgin-debt-drop |
Its definitely a much bigger deal than Greece. The worst part here is that the Chinese pulled out the "bazooka" a couple days ago to try to stem the drop and it basically did nothing. Just grim.