Yes it's a pity they don’t have superannuation in china, then there would be demand for all those worthless shares just like there is here.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
Yes it's a pity they don’t have superannuation in china, then there would be demand for all those worthless shares just like there is here.
It's one month's worth of wages for every working year of your life.
Or to put it another way, 5 years of your wages to prop up this ponzi if you're typical 50 year wage slave.
There are idiots who even put more than what is required, so that could very well be 10 years of their wages out of 50 years of wages, without assurances they can cash it our in the end before the algos or insider cabal in wall st beat them to it.
ouch... I might need to sit down with a glass of wine and mull over that article..
Quite depressing
It's very dooms day without a huge amount of real substance.
Not convinced, if it was that obvious then the world would react accurdibhly, the panic would be like a tsunami. With slums in India able to access and analyse such information I would think citizens of the first world countries would be well informed and acting accordingly, however they are not. Stock market, consumables and housing all remain steady or are going through growth phases.
I'm not convinced and if appears neither is anyone else at this point in time.
It's very dooms day without a huge amount of real substance.
Not convinced, if it was that obvious then the world would react accurdibhly, the panic would be like a tsunami. With slums in India able to access and analyse such information I would think citizens of the first world countries would be well informed and acting accordingly, however they are not. Stock market, consumables and housing all remain steady or are going through growth phases.
I'm not convinced and if appears neither is anyone else at this point in time.
The UK and US have both said they intend to raise rates. Many have questioned this, but it will cause waves when it happens. I guess this could just be China preparing for such a day, or even postponing such a day? But if China continue to devalue, and the UK and US raise rates, then the waves will be bigger. I don't see it as being a doomsday event. Just a time of reflection and correction for the market. It's a good time to question how you want you super and other assets invested. I'm sitting 50% cash, 50% shares at the moment. Possibly its a good time to lean a bit closer to cash.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Yes it's a pity they don’t have superannuation in china, then there would be demand for all those worthless shares just like there is here.
It's one month's worth of wages for every working year of your life.
Or to put it another way, 5 years of your wages to prop up this ponzi if you're typical 50 year wage slave.
There are idiots who even put more than what is required, so that could very well be 10 years of their wages out of 50 years of wages
Idiots alright. The GFC should have woken them up but they believed the party line and doubled down. Then we have all the saps rolling their super into IP's hoping to survive the downturn that way, but they are going from a liquid state to a frozen solid one. By the time they realize the property market is one huge Ponzi it will be too late. Millions of sellers and no buyers = poverty in retirement.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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