Originally posted by ulsterman: If you look at Evergrande Group, their worth has been declining for the past year.
A perfect example of the old adage, "If you owe the bank 100K you have a problem. If you owe the bank 100M, the bank has a problem." They owe the bank 300B, and we all have a problem.
"The people hate the lizards and the lizards rule the people." "Odd," said Arthur, "I thought you said it was a democracy." "I did," said Ford, "it is." "So," said Arthur, hoping he wasn't sounding ridiculously obtuse, "why don't the people get rid of the lizards?" "It honestly doesn't occur to them. They've all got the vote, so they all pretty much assume that the government they've voted in more or less approximates the government they want." "You mean they actually vote for the lizards." "Oh yes," said Ford with a shrug, "of course." "But," said Arthur, going for the big one again, "why?" "Because if they didn't vote for a lizard, then the wrong lizard might get in."
September 20, 2021, 01:22 PM
ulsterman
quote:
Originally posted by Perception:
quote:
Originally posted by ulsterman: If you look at Evergrande Group, their worth has been declining for the past year.
A perfect example of the old adage, "If you owe the bank 100K you have a problem. If you owe the bank 100M, the bank has a problem." They owe the bank 300B, and we all have a problem.
Yep, but hold on.
September 20, 2021, 01:37 PM
BBMW
In case anyone wants a quick catch up on the situation:
September 20, 2021, 01:46 PM
sig2392
I can't find any reference to US banks funding any of this. HBSC operates here but is a Hong Kong bank.
Hoping it crushes China and is a small ripple here.
September 20, 2021, 08:49 PM
2PAK
i bought about $7k in Vanguard ETF's today.
September 21, 2021, 08:51 AM
joel9507
China's now trying to rein in the one thing they got right - getting their people to act economically like capitalists. That created jobs.
But it's a command economy - crony capitalism on steroids. And nobody wants to wind up sharing living accommodations with the Uighurs by bucking the commands. And, now the commands are going the other way.
In Mr. Xi’s opinion, private capital now has been allowed to run amok, menacing the party’s legitimacy, officials familiar with his priorities say. The Wall Street Journal examination shows he is trying forcefully to get China back to the vision of Mao Zedong, who saw capitalism as a transitory phase on the road to socialism.
IMO, there'd be a very good market for an ETF that invested solely in US companies that did no business with the ChiComs. Companies that didn't buy things from them, didn't have any operations there, no investors from there, didn't sell there, didn't depend on Chinese raw materials, wasn't traded on Chinese markets.
If such an ETF did exist, I'd put money in.
No, I'm not going to short the Shanghai/Shenzen/Hang Seng (Hong Kong's under the hammer, just hasn't fallen yet) but only because I don't short anything.
RE: 'sell off'. Where but in investing, is a "2% off sale" a crisis?
September 21, 2021, 05:34 PM
911Boss
quote:
Originally posted by 2PAK: i bought about $7k in Vanguard ETF's today.
`
Which ones?
What part of "...Shall not be infringed" don't you understand???
September 21, 2021, 08:47 PM
2PAK
VGT and VTI
September 21, 2021, 08:49 PM
2PAK
BTW, I bought another $5k today. Same mix but I prefer to more of VGT. It's just expensive compared to VTI.
September 23, 2021, 05:27 PM
BBMW
Noticed this thread's gone a bit quiet.
September 23, 2021, 05:32 PM
doublesharp
I'm happy. Bought JAZZ @ $129
________________________ God spelled backwards is dog
September 23, 2021, 05:47 PM
Sig209
huge day
------------------------
Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
September 23, 2021, 11:16 PM
thumperfbc
quote:
Originally posted by Sig209: huge day
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Can you break it down for us in the cheap seats?
September 24, 2021, 07:36 AM
Sig209
quote:
Originally posted by thumperfbc:
quote:
Originally posted by Sig209: huge day
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Can you break it down for us in the cheap seats?
the markets were up over 1% each yesterday (Dow +500 / Nasdaq +150 / SP500 +50). That's pretty good for a single day.
When you consider an online savings account only yields one HALF of one percent in a YEAR. (plus loses purchasing power to inflation...)
futures are down for this morning though.
--------------------------------------
Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
September 24, 2021, 08:33 AM
Leemur
Hard to say if the Evergrande thing is contained or just smoldering for a big blow up.
September 24, 2021, 08:52 AM
PASig
quote:
Originally posted by Leemur: Hard to say if the Evergrande thing is contained or just smoldering for a big blow up.
I read yesterday that it is 5 times bigger than Lehman and could be 5 times worse
If you recall, 2008 almost collapsed our economy.
I REALLY pray the Chicoms don’t fuck the world over again with this, they already screwed us with their bioweapon, the last thing we all need is a financial meltdown too.
September 24, 2021, 10:44 AM
ulsterman
Two good days and puttering around the even mark today.
Explanation: We gained about 3% the last two days after losing 4% the prior days. Our guy tries to do a good job forecasting and rebalancing.
Today, we are about even.
September 24, 2021, 10:48 AM
RogueJSK
Yep, my index fund portfolio is back up to even after being down about 2% earlier this week.
September 24, 2021, 11:11 AM
BBMW
China's going to do what the US has been doing in these situations, come up with money to spackle over the financial hole, and everyone goes happily on their way.
quote:
Originally posted by Leemur: Hard to say if the Evergrande thing is contained or just smoldering for a big blow up.
September 24, 2021, 05:28 PM
johnw91498
Doesn't really matter. I'll just buy more with the dip.
Glock 19 HK P2000sk Sig P226 Spikes AR15 Middy CA94 MP5 clone
