DISQUS

fostert · 1 year ago

I wouldn't be so quick to put the final nail in China's coffin. This stock market crash reminds of the crash that happened in Southeast Asia a decade ago. So how are those economies doing now? Thailand's a slacker with only twice America's economic growth. Vietnam is growing at pretty close to 10%. We in America would give anything to be in the 'dire' economic situation of Southeast Asia. I'm guessing China will recover in much the same way. Yes, China faces some very severe challenges, but they've faced much worse in the past and have come through it pretty well. They will survive. If we really want to worry about an economy, we should worry about our own. We face severe crises in the future but, unlike China, we won't do anything about it. We will believe in "American Exceptionalism" and continue to go further into debt. We need only to look at England's fate in the 20th Century to see our fate in the 21st.

medium lebowski · 1 year ago

Gotta love these lofty ideals. ""You lose money, you jump out the window, too bad. It's your problem." What a country!

Any bets on whether this guy from the Washington Post link is a Republican or Democrat?

jr · 1 year ago

"awesome"-Herbert Hoover's ghost

MNUSA · 1 year ago

Bush & Co. would love for Americans to have their Social Security tied up in the stock market. I hope that brilliant idea is put to rest for a good long time.

Joshau Norton · 1 year ago

The larger issue in China is that the slowing economy in theUS is going to hurting that country's GDP growth badly. The recession here and in Europe will get worse and the demand for Chinese/Walmart crap quality goods will fall off a cliff.

OlderAndWiser · 1 year ago

This is very sad, but it's the same thing many Americans have learned about. Even now, people are losing money in 401ks, retirement accounts (if they still exist for them), etc. People are loathe to put their money in CDs or other bank products that pay crap for interest, but--greed is not always good, people.

I just can't imagine letting some arrogant stock broker handling my money (if I had any, that is). Sometimes, putting it in a regular FDIC savings or CD account, or savings bonds (although with the Treasury teetering, even that might be a risk) is your only insurance that at least you'll get the principal back, even though the rate might be crap. Otherwise, just put the cash in a safe place...

paulbe · 1 year ago

For the Chinese, this is a new experience. Now they get to learn the sting in the tail of Capitalism.

paulbe · 1 year ago

Josh Norton, a good point, but I think another view may be that China will actually benefit from America's weakness in that many more people in financial hardship (US and elsewhere) will downgrade to cheap Wal-Mart Chinese crap from better quality (and largely non-Chinese) products. If the Chinese can improve quality a bit while still being cheap, then they may actually win customer confidence and will be particularly well positioned for global recovery, coming out even stronger. Worked for the Japanese in the 70s.

lynchie · 1 year ago

O&W: i am investing in food futures. I am buying canned and dry foods. Pasta, soups, frozen food. Prices at the local supermarket go up every couple of days. Our diet does not vary much and today virtually the same purchases as last Saturday were $9.00 more on a $100 purchase. I am also filling coffee cans with bills and putting them in the rafters in my shop. Interest is 0% but as you stated at least the principle is safe.

http://www.huffingtonpost.com/2008/05/03/bush-w...

Bush said today that the "No temporary setbacks can hold back the most powerful force in our economy _ the ingenuity of the American people," Bush said. "Because of your hard work and dedication, I am confident that we will weather this rough period and emerge stronger than ever."

What a complete idiot if you and I work hard with dedication (no benefits, no raises) the rich will weather the storm and be stronger than ever---you poor bastards on the other hand well "tough shit". Thanks for the effort, don't forget we are all in this together, go team, join hands for a little kumbya, getr done, bring it on, sorry folks can't think of any more bullshit tag lines.
Gotta go and put by canned goods away.

ThingsComeUndone · 1 year ago

How many Americans bought into the Chinese Market on Margin is the question.Will there be a ripple effect here? McLaughlin on PBS is always talking about how China should raise the value of their money I bet he was invested there big considering how often he talked about it.

Hangtown Danile · 1 year ago

Things fall apart.
The center can not hold....

Hangtown Danile · 1 year ago

The one up side to this is a reduction in Chinas demand for oil.
This will likely help reduce oil prices.

The main downside (For most of you who like to live) how dose one come out of a MAJOR down slide like this?
The USA got into a war...