China Meltdown

China rolls out emergency measures to prevent stock market crash

BEIJING/SHANGHAI, July 5 (Reuters) – China’s stock markets face a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that would threaten the world’s second-largest economy.

The government is anxiously awaiting the market opening on Monday to see if the new measures will halt a 30 percent plunge in the last three weeks, or if panicky investors who borrowed heavily to speculate on stocks will continue to sell.

In an extraordinary weekend of policy moves, brokerages and fund managers vowed to buy massive amounts of stocks, helped by China’s state-backed margin finance company which in turn would be aided by a direct line of liquidity from the central bank.

  • Norman_In_New_York

    Help!! I fear an onrush of schadenfreude is about to overwhelm my good nature and goodwill.

    • Heh;)

    • Helios Megistos

      There is a wonderful word in the tongue of the Bard:gloat
      gerund or present participle: gloating
      contemplate or dwell on one’s own success or another’s misfortune with smugness or malignant pleasure.

      “his enemies gloated over his death”

      synonyms:delight, relish, take great pleasure, revel,rejoice, glory, exult, triumph, crow;

  • mauser 98
  • Reader

    Then there is the vote in Greece and the huge amount of Greek paper Spain, Italy, Portugual and France hold in addition to Germany. If any of the PIIGS get in trouble next, the writing will be on the wall.

    A few months ago, Austria was the first Western nation to cancel its deposit insurance for consumer bank accounts.

    With all this good news I think we need a musical interlude to take our mind off of this
    or for something more current

    • David Murrell

      Love that song!!!

      • Reader

        The first one or the second one?

  • Helios Megistos

    LOL! The godless commies dog-eating Hans are the bulk of the Yellow Peril; I hope that they completely self-destruct into a hyper-Balkanized Mad Max dystopia and that Wal-Mart goes bankrupt as a result; we should not even trade from Red China let alone allowing massive immigration from there.

    • JoKeR
      • Jay Currie

        Has to be a hate crime… Where’s the CHRC? Scramble the SJWs, no trigger warning! Macro aggression!!

        Plus…. It rhythms and, Yoiks, it funny. Racists!

        • JoKeR

          Let’s see if this upload works. Disqus hates animated gifs.

          • Canadian

            That`s how he got to rule North Korea.

  • Helios Megistos
  • Minicapt

    Apparently the Chinese were caught listening to Bill-Bob.


  • David Murrell

    I have been watching the Chinese stock market for the past several months — as an economist — and it has been laughably overbought. What is sad is to see some business/finance commentators on business news TV talking about China as a “buying opportunity”. There was a CBC or a CTV piece, about four weeks ago, proudly showing Chinese peasants, in some muddy farming village, checking their I-phones as to the latest stock quotes. The news piece saw this scene as a “good thing” (nearly all Canadian stories about China depict Chinese this or that in a positive light). If someone sees a Chinese peasant checking on his stocks, it is time to bail out.

    • Exile1981

      When the stock market crashes just think of the new job market for street sweepers to clean up all the jumpers.

    • Norman_In_New_York

      When the New York Exchange crashed in 1987, Johnny Carson related that investors who called Paine Webber were not saying, “Thank you.” “It was something else with ‘you’ in it.”