December 18, 2009
Increasing Prices Spark Panic Buying in China
A Shanghai resident, who called the Sound of Hope Radio, said, “The news reported that the price of cooking oil will increase by 10 percent, but there will be no increase in our wages.”
He compared the current situation to the previous occurrence with gasoline prices. When the price of oil was US$150 per barrel, he could buy gas for US$3.30 per gallon. When the price of a barrel dropped to US$75, he had to pay US$3.60 per gallon.
December 20, 2009
The 5 million yuan student
Unlike other seniors busy scrambling for jobs, Ma, a senior majoring in media market research and analysis at Beijing-based Communication University of China (CUC) has lived his last year of college on the fast track to success, earning himself about 5 million yuan ($ 732,500)by investing in real estate and stocks.
...
As Ma approaches graduation day, he plans to keep developing his finance superpowers, but when asked what he would do if he lost it all tomorrow, Ma says he'll take his passion to the classroom.
December 21, 2009
China tightens property rules for developers
Beijing is concerned about long-term inflationary pressure building as a result of a fast economic recovery spurred by a government-engineered credit boom and public spending. It also faces public anxiety about overheating in the property sector and a potential asset bubble in the stock market, which could threaten social stability.
June 21, 2008
The rise and fall of China's stock market
"The market is a little like theatre," she says. "From behind the curtain, they seduce the audience into getting up on the stage. And once you're up on the stage you get involved in the plot. And you end up becoming a real actor in the drama.
"And then, of course, you're trapped. You can't get off the stage."
This is not going to end well, again.
"As Ma approaches graduation day, he plans to keep developing his finance superpowers..."
ReplyDeleteMa was last quoted as saying: "It's all good!"
Obama: We Can't Treat Tax Dollars Like "Monopoly Money"
ReplyDeletehttp://www.realclearpolitics.com/video/2009/12/21/obama_we_cant_treat_tax_dollars_like_monopoly_money.html
Isn't that precious.
LMAO
Kevin
Mark - Andy Xie sees problems ahead for China
ReplyDeletehttp://www.bloomberg.com/apps/news?pid=20601080&sid=aTxrS1SDcnZM
and yet another someone else agrees with you on gold:
http://pragcap.com/doug-kasss-20-for-2010
Jeez - are you guys in the majority yet? :-)
"As Ma approaches graduation day, he plans to keep developing his finance superpowers, but when asked what he would do if he lost it all tomorrow, Ma says he'll take his passion to the classroom."
ReplyDeleteI would be careful bringing "his passion" into the classroom!! LOL
watchtower,
ReplyDeleteFor the life of me, I can't seem to pinpoint his exact superpower. Real estate and stock speculation might be a new one. Maybe it is different this time.
http://en.wikipedia.org/wiki/List_of_superhuman_features_and_abilities_in_fiction
Kevin,
ReplyDeletePrepare to cringe, lol.
http://boardgames.about.com/od/monopolyfaq/f/bank_runs_out.htm
Stevie b.,
ReplyDeleteJeez - are you guys in the majority yet? :-)
Let me know when I am in the majority. There's a decent chance I'll want to defect to the other side, lol. ;)
Mark you are a flip flopper!!
ReplyDelete"I would never want to join any club that would want me as a member".. Groucho Marks
GYSC,
ReplyDeleteI'm picturing the demand for his superpowers in the classroom should he lose it all.
Teacher: Please welcome Ma. He's going to be teaching you how to tap your financial superpowers.
Student: Didn't he lose it all yesterday?
Teacher: Yes! It's not his fault though. Somebody put kryptonite in his portfolio!
GYSC,
ReplyDelete"I would never want to join any club that would want me as a member"
That's pretty much true, lol.
Always drink upstream from the herd - Cowboy Proverb
Herd Thinking = Heard Thinking
Example: I "heard" that the CPI doesn't include food and energy.
Stagflation in 2010 May Look Like Reruns of the 1970s
http://moneymorning.com/2009/12/21/stagflation-2/
Look at the chart. It says that Greenspan eliminated food and energy from the CPI-U. This myth never dies because so many people keep telling other people. Food and energy aren't in the core CPI but the core CPI is only used for predictive purposes. Nobody's Social Security is tied to the core CPI.
What goods and services does the CPI cover?
http://www.bls.gov/cpi/cpifaq.htm#Question_7
Food? See FOOD AND BEVERAGES
Energy? See HOUSING (fuel oil) and TRANSPORTATION (gasoline)
Nobody wants to hear it though. Six people rated my following post 2 stars out of 5. I should thank them. It helped me realize that maybe too many people were in the inflation camp's majority.
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_I/threadview?bn=72746&tid=2067&mid=2073
Unless we start a sarcasm club! We should work on membership card design.
ReplyDeleteGYSC,
ReplyDelete"Mark, would you like to join our sarcasm club?"
1. If it was said with a 100% sincere tone, then it would clearly be a sarcasm club that doesn't believe in sarcasm. No way I'd want to be a member of such a lame club!
2. If it was said with a 100% sarcastic tone, then I'd be extremely impressed in the quality of the club. However, I'd also be extremely insulted. No way I'd want to join a club that insulted me like that!
Nope, I think the Groucho Marx comment still applies here. :)
"We should work on membership card design."
Oh yes. That's something WE should definitely do. Let's get right on that. [sarcastic tone]
Ouch. Good grief. This sarcasm club idea is clearly very dangerous. Put down that gun. I was just joking! ;)