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07-08-2015, 09:44 AM
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#1 | I *heart* Revscene.net very Muchie
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| China loses Trillions in Stock Market Crash, NYSE Suspended due to Glitch
We shouldn't be surprised, should we? Quote:
According to Bespoke Investment Group, China's stock markets have now lost $3.25 trillion. To put that in perspective, that's more than the size of France's entire stock market and about 60% of Japan's market.
| China stocks hammered as market crash continues - Jul. 7, 2015
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Meanwhile at the NYSE, Trading halted due to 'technical glitch' New York Stock Exchange halts all trading after technical glitch - Business - CBC News
Coincidence??
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07-08-2015, 10:08 AM
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#2 | In RS I Trust
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The big question is what will this do to the Vancouver housing market? Talk about a lot of lost cash.
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07-08-2015, 10:10 AM
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#3 |
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or people taking out whats left to throw at vancouver.
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Originally Posted by jasonturbo Too bad it isn't about flipping cars to lose money, I'm really good at that. | Quote:
Originally Posted by SkunkWorks This wouldn't happen if you didn't drive a peasant car like an Audi... | Quote:
[14-05, 14:59] FastAnna You tiny bra wearing, gigantic son of a bitch
[15-05, 10:35] FastAnna Yeah I was dreaming of those big titties in that tiny bra
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Originally Posted by westopher I'd probably blow someone for that 911 | |
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07-08-2015, 10:12 AM
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#4 | RS has made me the bitter person i am today!
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this is awesome news
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07-08-2015, 10:14 AM
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#5 | OMGWTFBBQ is a common word I say everyday
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surprise.exe not found
seems like its been going on for a while
doubt it'll affect the Vancouver housing much, it'll be business as usual.
__________________ "There's a lot of dead people who had the right of way." "Never argue with stupid people, they will drag you down to their level and beat you with experience." "I have a lot of beliefs, and I live by none of them. They're just my beliefs, they make me feel good about who I am. But if they get in the way of a thing I want, like I wanna jack off or something, I just do that." |
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07-08-2015, 10:19 AM
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#6 | I have named my kids VIC and VLS
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| Quote:
Originally Posted by murd0c The big question is what will this do to the Vancouver housing market? Talk about a lot of lost cash. | If anything it creates more uncertainty there and more people wanting to store their money elsewhere
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07-08-2015, 10:50 AM
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#7 | Performance Moderator
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Great! Time to buy now right??? What do you think will recover most over there? My knowledge of China's stock market is pretty much nil.
Made lots of money after the USA crash years ago... Ford shares for $1.00 each was my favourite pony to ride at the time, went up to 16x before the year was out!
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07-08-2015, 10:54 AM
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#8 | Pull Out Towing. Women rescued for free.
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Patiently waiting for 4444 to respond to this thread.
__________________ Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off. Originally posted by The7even SumAznGuy > Billboa Originally posted by 1990TSI SumAznGuy> Internet > tinytrix Quote:
Originally Posted by tofu1413 and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing |
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07-08-2015, 11:07 AM
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#9 |
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waiting for Gululu to chime in
__________________ Quote:
Originally Posted by jasonturbo Too bad it isn't about flipping cars to lose money, I'm really good at that. | Quote:
Originally Posted by SkunkWorks This wouldn't happen if you didn't drive a peasant car like an Audi... | Quote:
[14-05, 14:59] FastAnna You tiny bra wearing, gigantic son of a bitch
[15-05, 10:35] FastAnna Yeah I was dreaming of those big titties in that tiny bra
| Quote:
Originally Posted by westopher I'd probably blow someone for that 911 | |
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07-08-2015, 11:09 AM
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#10 | they call me the snowman
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Money isn't just lost.
Where da fuq did it go?
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07-08-2015, 11:18 AM
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#11 | RS.net, helping ugly ppl have sex since 2001
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where is charlesincharge
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07-08-2015, 11:20 AM
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#12 | I Will not Admit my Addiction to RS
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No reason for panic honestly, the Shanghai stock market rocketed up in value since the end of 2014 til the summer of 2015. It's all in how you frame the market.
Quote from the NYT: “The Chinese stock market has dropped 32 percent in a month” is scary. “The Chinese stock market is up 70 percent over the last year” sounds great. Both are true. http://www.nytimes.com/2015/07/07/up...002&abg=0&_r=0
In addition, it's not like the stock market there is a major player in the economy for China compared to the TSX for Canada and NYSE for the US, so in all it's not going to affect things too drastically.
However, it was most definitely a bubble in their already very volatile stock market as most of the increase in value of the market was due to pyschological reasons more than fundamentals being better for the companies.
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07-08-2015, 11:22 AM
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#13 | Even when im right, revscene.net is still right!
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How is that Cafe doing with the 50+ investors?
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07-08-2015, 11:36 AM
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#14 | Rs has made me the woman i am today!
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Originally Posted by Special K How is that Cafe doing with the 50+ investors? | 6 of them asked for their $300 back
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07-08-2015, 11:42 AM
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#15 | I *heart* Revscene.net very Muchie
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inb4 Gululu blames the "whites" for messing things up.
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07-08-2015, 12:04 PM
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#16 | HELP ME PLS!!!
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Chinese stock market had been over-inflated for the last few years (like real estate in Vancouver). The trillions in "lost" is just a market re-adjustment.
As a whole, it won't affect the Chinese economy much. Vancouver real estate market will not "crash" because of this news. Life goes on.
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07-08-2015, 12:20 PM
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#17 | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
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Where is Ulic Qel-Droma?
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07-08-2015, 12:29 PM
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#18 | Performance Moderator
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Originally Posted by Mr.HappySilp Where is Ulic Qel-Droma? | Staring down the barrel of a gun, finger on the trigger... sweat on the brow.
Nah, he's probably motorboating a T-dub LG as we speak.
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07-08-2015, 12:33 PM
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#19 | Banned (ABWS)
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| Quote:
Originally Posted by 68style Staring down the barrel of a gun, finger on the trigger... sweat on the brow.
Nah, he's probably motorboating a T-dub LG as we speak. |
You're on fire lately!!!
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07-08-2015, 12:47 PM
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#20 | My homepage has been set to RS
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Setting up for another market crash . By this year end.
China has lowered interest rates 4 times in a row, minerals are gonna go down next coupled with euro. Canada will be lowering interest rates if anything.
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07-08-2015, 01:06 PM
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#21 | y'all better put some respeck on my name
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Lets not forget about the massive real estate bubble in China which will eventually burst as well.
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07-08-2015, 01:42 PM
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#22 | Everyone wants a piece of R S...
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I'll put in my perspective on this. When market crashes like this, a lot of investors will need cash and a lot of cash to cover their margin positions. They will look for the places where their other invested money (ie HK/Vancouver RE) and cash out since they've got a healthy profit.
Problems is, you have to look at A LOT of people trying to cash out. Supply increases and the other ones originally looking to buy (from China) are going to stop looking also. If they were willing to invest in Vancouver RE, you can bet that they were gambling big on the stock markets also when money came in much easier for the past couple months. Increase supply, decrease demand. What's scary is when they really really need to cash out asap and will be willing to sell even with $100k+ discount or whatever depending on location. It's like watching the stock market crash and trying to sell. No place in the world is immune and we're talking about Vancouver here.
For the first couple months, you'll see buyers. These are the local ones that are living and trying to buy a place here, not foreign investors. They might be able to buy at a 10% discount but that's still nothing compared to how low it can get. I'm guessing 50% with a low economic local support. It could be the biggest shit storm for Vancouver RE in the longest time and will take quite some time to recover. Then you got all these horny buyers thinking they finally bought a place with maybe a 10% discount and be stuck with negative equity for the rest of their life.
Of course, China could recover in a week and all is forgotten but I really doubt it. If you still think China doesn't affect the RE market here, then you really have no clue what drove the prices up in the first place.
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07-08-2015, 02:28 PM
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#23 | y'all better put some respeck on my name
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Food for thought... Quote:
China’s consumer spending power
Chinese consumers have become the world’s powerhouse when it comes to spending on luxury goods, tourism, property, and international schooling.
It is impossible to know how much of this spending has been fueled by stock market gains, rising incomes, proceeds from corruption, or property market windfalls—and the market really only started rising in recent months. Some were even delaying buying new cars to put money into the stock market, as the Wall Street Journal reported last month.
But investors said recently that stock windfalls helped them fund overseas travel, property purchases, and car buying. Because trillions of yuan of stock-buying was done with so-called margin finance, or loans used to buy stock, so investors who are losing money are going to need to curb spending even further to pay these loans back. Tourism: Chinese tourists spent more than those from any other country on overseas travel last year—a massive $165 billion, up 28% from the year before. And their impact on major cities is massive.
Tourists from Beijing alone spent $1.4 billion in New York City last year, as Quartz previously reported, and those from Shanghai spent nearly $900 million in Los Angeles. In London, they accounted for one-fifth of all spending in the West End and in Thailand they’re much-maligned but still expected to bring in $5.6 billion this year. Luxury goods: Chinese also buy 12% of the world’s luxury goods, with most of that shopping done overseas, where they accounted for 40% of France’s luxury good sales last year. US, Canadian, and Aussie schools: Nearly half a million Chinese students studied abroad last year, up 11% from 2013, and 92% of those paid their own way, rather then relying on financial aid or scholarships. These students have been a windfall for universities and private secondary schools, particularly in the US, Canada, and Australia, the top destinations. Property: Property markets from New Zealand to Los Angeles have been boosted by billions of dollars in Chinese investment in recent years. These buyers have snapped up suburban homes and penthouse apartments, often paying cash.
These households most likely to be spending on overseas property, education, and travel are the ones that dabble in the market.
China’s stock market are the “plaything” of a limited number of households in China, financial services company GaveKal said in a recent report. “The pain of the crash is affecting probably no more than 20mn to 30mn Chinese households, most of which range from upper middle class to very wealthy.” The global fallout from China?s stock market crash may be coming your way - Quartz | |
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07-08-2015, 02:29 PM
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#24 | I *heart* Revscene.net very Muchie
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so we're expecting the canadian dollar to continue to shit itself for the next year?
current buy for USD is like 1.28 or more
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07-08-2015, 02:52 PM
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#25 | Revscene.net has a homepage?!
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If they have the money to buy a 2m+ house in Vancouver, I'm pretty sure cashing out of RE in Vancouver to cover losses is like a drop of water in a cup. It's unreasonable to assume China people move their main asset base to Canada if they continued to live/work in China. Sure there are affects to our RE when the mainland folks "understand what diversifying your investments" meant, which is why we see the continued rise in our RE. However, I doubt these same people would cash out of RE here, repatriate their money, and cover their asses there.
And then, when the shit really hits the fan, money comes out even more rapidly to buy more assets, before all the underground transfer joints get all shut down.
Last edited by jackmeister; 07-08-2015 at 02:58 PM.
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