China stocks tumble again after premier Li Keqiang fails to mention crisis

[herding cats]

Source: The Guardian

Hundreds of Chinese companies suspended dealings in their shares in a bid to arrest a frenzy of selling on China’s main stock markets, which have lost more than a quarter of their value since June.

The move, considered by many analysts to be another stumbling response to a full-blown share price crash, sparked a nervous reaction in commodity markets and sent copper prices to a six-year low.

Beijing has supported a series of market operations to halt a sharp decline in share values on the Shanghai and Shenzen exchanges over the past four weeks, but each one has been criticised for failing to restore market confidence.

Chinese shares fell on Tuesday after premier Li Keqiang’s failure to mention the deepening market crisis in a statement on the economy. Before the market opened, Li said in comments on a government website that China had the confidence and ability to deal with challenges faced by its economy. But he had nothing to say about the three-week plunge that has knocked about 30% off Chinese shares since mid-June.



Read more: http://www.theguardian.com/business/2015/jul/07/china-stocks-tumble-again-after-premier-li-keqiang-fails-to-mention-crisis

[orpupilofnature57]

1. Wonder who's making out on this " Correction ",, oh and thanks for being our factory .

[wordpix]

2. thanks for letting our corPOS foul your air, water & land for US

and also, for your slave laborers

[orpupilofnature57]

3. + 1000 Well Put !!!!!!

[wordpix]

4. who is that man, your icon in the corner?

[StoneCarver]

8. It is Smedley Butler

He wrote War is a Racket, and won the Congressional Medal of Honor -Twice. As a Marine officer he turned in Senator Prescott Bush (GHW Bush's father), etc. for allegedly starting a coup to overthrow Franklin Roosevelt. The book basically says he realized he spent his whole life as a Marine as just being a thug for multinationals, overthrowing governments, etc. I believe he retired as a Marine General.
https://en.wikipedia.org/wiki/Smedley_Butler
Stonecarver

[orpupilofnature57]

13. I usually run to answer that question, yours was excellent . He was also vilified by MS, even then

the 1% connived to keep us divided .

[Android3.14]

11. Smedley Butler

https://en.wikipedia.org/wiki/Smedley_Butler
A very interesting warrior.

[orpupilofnature57]

12. + 1000 Well Put !!!!!!

[wordpix]

14. never heqrd of him before, thanks

[cosmicone]

5. China is sitting on a massive bubble which may burst any second

and it will be the mother of all revolutions thereafter.

[Johnyawl]

6. What's the US retail industry going to do...

...if China falls into another Cultural Revolution? The shelves will be bare PDQ.

[cstanleytech]

9. Trust me they will find some other country to make cheap shit to sale if they have to.

There are a number to pick from after in the southeast Asia not to mention South America though they might consider setting up shop in Africa as well as its a largely untapped well as far as having a massive number of sweatshops to make shit cheap.

[Mojorabbit]

7. Are we looking at another global economic crash?

Are the global banking people exposed in this market?

[cstanleytech]

10. No, not from what I am reading.

China might get burned a bit if Greece goes but it will minor I suspect because while its alot of money for Greece to owe its not alot compared to a country like China or the US which have far larger economies.

[wordpix]

15. could be a dump coming up and then a pump before another dump

the global corpos love this shit