Saturday, December 25, 2010
China raises rates to near 6% on xmas day!
China raises rates at christmas
looks like hiding bad news then.I really feel that china is gonna implode....its construction market is almost certainly going to collapse. The problem imo is that I believe that many loans have been packaged and sold to world banks as AAA.Think cronas hedge fund manager is right,china is the next disaster waiting to happen
Posted by taffee @ 03:00 PM (2435 views)
9 thoughts on “China raises rates to near 6% on xmas day!”
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alan says:
From the article…”China has also officially increased banks’ required reserve requirements six times this year and restricted lending by them. In addition, Beijing has taken a slew of steps to cool the property sector, trying to ward off a potential asset bubble”.
khards says:
Shit, I knew I should of shorted the FTSE yesterday, however I don’t think this will stop the current ‘Bernanke rally’
bingo says:
China wont suffer, only the investors will lose out…
drewster says:
What bingo says.
When articles say “China is going to crash”, it doesn’t mean they are about to return to the 19th century. It just means growth will slow, unemployment will rise, and a lot of investors will lose money. For the working poor, things will carry on regardless (though jobs in construction will be slightly harder to come by).
Of course, if China does slow then it will knock commodities, commodity companies, and commodity currencies (AUD and CAD). Australia’s property bubble will burst too.
khards says:
Do they have unemployment benefits in China?
peter_2008 says:
When the communist bubble “the great leap” bursted in 50s’ and 60s’, 20 – 30 million chinese straved to death. BUT the thing is – China can afford it. Say if this time, 60 million Chinese die, that’s still not even 5% of the population. The Chinese can do what the US and the UK cannot do – just let the losers die. That’s why they can bounce back quickly.
novice pete says:
@6 “just let the losers die”
How long do you think they can get away wtih that? Hai Ho! How Long!
novice pete says:
Lets do business with the good old Chinese government, they make money and screw the people just like here!
tick tock says:
Don’t underestimate the Chinese, they are not stupid, and despite the delusions of the Western media, are no friends of Western Capitalism.
It might not be the ‘exporters’ that get burned to save the game this time, the game itself may have to be burned in order to save the ‘importers’.
‘We’ are so short sighted, so greedy, & so stupid, that I don’t think most have even stopped to ponder the bigger picture.
We continue to play the slot machines while the Chinese play Chess.