Asian market thread 1/8 dropping fast!

How long is this break

SHANGHAI +2.7%
DOW FUTURES +170

Doom boner ice bath

+2.39 according to Bloomberg since 80 mintues.

okay it's moving again.. they do have the longest lunch breaks on planet earth.. lol

+3.42%

Chinese Central Bank Miracle recovery.

Those rats LOL

It's true though. National Govt buying in.

Torn

Yep, it's stupidity going to infinity and beyond (as already seen in the U.S.).

Btw, what do you call people who prop an artificial number ("market index") at the expense of real economy? Yep, you guessed it.

When a game of confidence ("market index", after all, is a con game) becomes the primary motivator, the confidence becomes the primary commodity and an artificial con number becomes more important than anything real it was supposed to represent.

There's a logic to stupidity and once you uncover its laws, the laws of stupidity, you can predict its behavior and watch it grow and spread before your very eyes... as it is right now... which is why I'm perfectly happy with prolonging this nonsense as much as possible.

The only way to learn is by personal experience and there are plenty up there who have already caught the stupidity bug and who need to learn the consequences of their newly-acquired stupidity from their own personal experience.

Eveything is up today

Didnt they say it was going to be 2008 again

That whole market meltdown then had up days as well. Then it would drop a bunch over a few days. Another up day, etc.

Old China is still an amateur compared to young murica...

You can see directly what's going on by looking at Bitcoin - the spread between huobi (China) buying price and bitstamp/bitfinex (usa) shows the level of desperation of Chinese folks to get their money out of the (devaluing) Renmimbi Yuan.

This BTC-for-Yuan-priced-in-USD spread exists because it's difficult to move Yuan held "onshore" in China, and the Yuan is subject to some substantial devaluations lately.

So, you can see how extreme it is by looking here:
[link to bitcoinwisdom.com (secure)]

AT THE MOMENT, just $2-3 of spread per bitcoin, but recently it's been as high as $20-40 (presumably when some Chinese big-fish just wants to get his/her cash out of China).

levelling off?

sell sell sell

:)