Loading ...In 2008 the USA make believe economy was finished, the 105% sub prime, zero down, no document liar loans worked great after 9/11/01 but went bad in 2008, and took many countries economies down. The US Consumer was crippled after that and all the stores started closing. Its all simple arithmetic. I know of lots of people stopped paying and living free in homes for many years. The global financial leaders are in a fog.
Below parts of story:
Chinese state media talked up the market after a wave of selling that had seen nearly $1.5 trillion of market value wiped off Hong Kong and mainland shares in the three trading days through Tuesday,
Investors have dumped stocks in the crosshairs of Beijing’s sweeping regulatory crackdowns, with selling also spreading to bond and currency markets.
“China’s ‘national team’ may be getting ready to ‘stabilize’ markets,” “It is doubtful, though, that the repricing of China equities for government regulatory risk has run its course.”
The Hang Seng Tech Index jumped 3.1% after plunging about 17% in the previous three sessions. “Recent policy and regulatory developments have led to increased risk premiums for Chinese equities at the least,”
The jawboning by state media follows dramatic market moves this week that underscored the fragility of investor confidence amid a months-long regulatory onslaught by Beijing.
Traders fear the latest crackdown on the education, tech and property sectors could expand to other industries such as health care, as China looks to tighten its grip on Big Tech and reduce the wealth gap. The government has targeted private enterprises it blames for exacerbating inequality and increasing financial risk.