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Q: How will the Shanghai crash affect HK (and its future?)
Genuine question... I know very little about economics/finance.
Given that Shanghai was virtually created (recently) to bring in the money & influence to the mainland over HK, by the BJ morons... and probably to wrestle HK down to the ground & pin it...
How will the recent crash affect things in HK - financially, and potentially, politically?
8 years 33 weeks ago in Money & Banking - China
Stock market crashes are windfalls for the ultra rich.
Hong Kong will do just fine. About half the money in the Shanghai exchange is that of the working class invested at the urging of the BJ government even if it means borrowing to do it.
The people in the know foresaw this crash and made a killing by urging the masses to buy high...letting them snap up the deals when the uneducated public panics...classic con game perfected in the US.
It will get worse before it gets better but HK stocks will be fine as they are based less on speculation and more about hard facts....not counting of course mainland companies listed in HK which will certainly drive down the index.
I believe it's all part of the plan to steal from the working class and the continuation of the consolidation of power and wealth at the expense of the poor minions.
Chinese love to gamble...and the house always wins in the end.
ScotsAlan:
Spot on.
Pretty much what I said on Ambi's thread.
These things are brought about.
Fancy some ferox trading? Ha ha. See here:
http://www.bbc.com/news/business-33673746
ScotsAlan:
Another thought I had about your excellent post. Off on a tangent but related.
In the US Presidential campaigns this week, Bernie Sanders asks ( with an obvious reference to the Koch brothers), why do some people consider a wealth of 80 billion not enough?
At the same time, Trump is boasting about how he has paid off politicians in the past and that they are not to be trusted.
Why on earth is nobody in the media asking Trump who he paid off, and then the obvious follow up question: what did you get for your money?
Slap head moment. Who owns the media? The super rich.
Even Clinton has said she believes the super rich have to have more freedom on Wall Street. Of course she does, they fund her campaign.
Obama, the President who wants green policies, allows oil drilling in the Arctic. Of course, because they donated to his campaign. Want an oil pipeline... no problem. Donate to my campaign.
This is the real problem. The elected leaders of the biggest economy in the world, can be bought by the super rich. The super rich want to be mega rich. And they don't care how they do it.
Now, I am not American. But I follow American politics. Indeed, just this week, I was having a good bar argument with a self professed Texan redneck Republican. And when he started to struggle to come up with answers, he done the usual conservative thing..... " It's none of your business because you are not American". ( the guy is sound, we enjoy arguing).
But here is the point. American politics do matter. They effect everyone. Because the super rich buy American politics.And that messes it up for us all.
If a typical small Chinese investor complains he/she has lost money....erm no. It's just moving from your pocket to top up the super rich.
It wont change anything in my opinion.
Stock value goes up and it goes down. Some people will make money, and some people will lose money.
But in a general sense, distribution of wealth will continue in the wrong direction. The rich will get richer, and the poorer will become poorer. That is the real issue as I see it.
Stock market crashes are windfalls for the ultra rich.
Hong Kong will do just fine. About half the money in the Shanghai exchange is that of the working class invested at the urging of the BJ government even if it means borrowing to do it.
The people in the know foresaw this crash and made a killing by urging the masses to buy high...letting them snap up the deals when the uneducated public panics...classic con game perfected in the US.
It will get worse before it gets better but HK stocks will be fine as they are based less on speculation and more about hard facts....not counting of course mainland companies listed in HK which will certainly drive down the index.
I believe it's all part of the plan to steal from the working class and the continuation of the consolidation of power and wealth at the expense of the poor minions.
Chinese love to gamble...and the house always wins in the end.
ScotsAlan:
Spot on.
Pretty much what I said on Ambi's thread.
These things are brought about.
Fancy some ferox trading? Ha ha. See here:
http://www.bbc.com/news/business-33673746
ScotsAlan:
Another thought I had about your excellent post. Off on a tangent but related.
In the US Presidential campaigns this week, Bernie Sanders asks ( with an obvious reference to the Koch brothers), why do some people consider a wealth of 80 billion not enough?
At the same time, Trump is boasting about how he has paid off politicians in the past and that they are not to be trusted.
Why on earth is nobody in the media asking Trump who he paid off, and then the obvious follow up question: what did you get for your money?
Slap head moment. Who owns the media? The super rich.
Even Clinton has said she believes the super rich have to have more freedom on Wall Street. Of course she does, they fund her campaign.
Obama, the President who wants green policies, allows oil drilling in the Arctic. Of course, because they donated to his campaign. Want an oil pipeline... no problem. Donate to my campaign.
This is the real problem. The elected leaders of the biggest economy in the world, can be bought by the super rich. The super rich want to be mega rich. And they don't care how they do it.
Now, I am not American. But I follow American politics. Indeed, just this week, I was having a good bar argument with a self professed Texan redneck Republican. And when he started to struggle to come up with answers, he done the usual conservative thing..... " It's none of your business because you are not American". ( the guy is sound, we enjoy arguing).
But here is the point. American politics do matter. They effect everyone. Because the super rich buy American politics.And that messes it up for us all.
If a typical small Chinese investor complains he/she has lost money....erm no. It's just moving from your pocket to top up the super rich.
This is a comment to thedude, but links don't work in comments. So I am posting an answer.
This is the solution. Get money out of politics and let Government do it's job. Governments job is to regulate the market to ensure greater good for all.
Income equality. That's the key. The super rich are buying politics in America. In the UK, gongs are being handed out to lackeys and party doners. In the UK, these unelected Lords, who buy their title by donating to political parties have a say on the world stage. Big money is out of control.
It is interesting, but sad, that Teddy Rosevelt would be considered too liberal by the Republican Party, as he squashed trusts (monopolies) and argued for a living wage.
ScotsAlan:
Even Ike would be considered left wing by todays standards.
