Fan Xiaolin, an engineer in Changsha in central China, thought he was safe when he deposited his family’s savings of 800,000 yuan ($A173,000) in a private finance company he said was recommended by employees of state-owned Bank of China. The company, part of an informal industry of lenders and investment managers that operates outside China’s state-run banking system, collapsed six months later as economic growth slowed and businesses struggled.
Part of me is brimming with feelings of schadenfreude for poor Chinese insulated from simple facts of ponzi investing (that could be looked up from Google or Youtube but blocked by the great firewall).
But then again, I look at the super of Australians and the fact that the super industry is a fee collecting, index investing scam of an industry and think our fate won't be different from the Chinese.
They just discovered sooner that it's better to keep your money yourself and keep them away from greedy investment bankers.
Whilst we on the other hand have no choice for the most part on how to invest our super.
Part of me is brimming with feelings of schadenfreude for poor Chinese insulated from simple facts of ponzi investing (that could be looked up from Google or Youtube but blocked by the great firewall).
But then again, I look at the super of Australians and the fact that the super industry is a fee collecting, index investing scam of an industry and think our fate won't be different from the Chinese.
They just discovered sooner that it's better to keep your money yourself and keep them away from greedy investment bankers.
Whilst we on the other hand have no choice for the most part on how to invest our super.
SMSF is really the way to go.
I agree that the buy side is pretty much a scam with no accountability, but at least the ASX is a market. China is a joke.
I think a lot of people are not aware of what China actually is.
Let me assure you that this isn't one of those shady pyramid schemes that you've been hearing about. No sir, our model is the Trapezoid which guarantees each investor an 800% return within hours. Those who can, do. Those who can't, teach. "It's an itchy blanket, it's designed to remind you how lucky you are"
It appears in the last four weeks since the last post in this thread that the actions implemented by the Chinese government has stopped the slide. The question is where is the money coming from?
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.
It appears in the last four weeks since the last post in this thread that the actions implemented by the Chinese government has stopped the slide. The question is where is the money coming from?
There's no need for money when you can use the threat of violence and imprisonment.
They forced pension funds to buy at the barrel of a gun.
They arrest short sellers.
They jail sellers.
Hold those shares for six months or face the firing squad.
It appears in the last four weeks since the last post in this thread that the actions implemented by the Chinese government has stopped the slide. The question is where is the money coming from?
This has along way to play out.
If the stock market can be distorted the way the CCP is, what about the rest of the economy.
China will learn the hard way, instead of taking some pain now this will develop into a large financial crisis.
China it seems certainly is a house of cards at present. The CCP seem to think they can develop a modern economy without any of the pain, I think they will learn a rude and painful shock which could end up with the fall of the CCP in time.
It appears in the last four weeks since the last post in this thread that the actions implemented by the Chinese government has stopped the slide. The question is where is the money coming from?
They have just devalued. Hit the aud badly too.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy