Well, the China bubble burst.

[zerojunkie]

http://abcnews.go.com/Business/wireStory?id=2909035

[PETA]

centrally planned economies and free trade conflicting? say it isn't so batman

[matt]

sux man. bad day for my portfolio

[PETA]

400+ pt drop isn't good for most

[matt]

*jumps out of 1 story window*

[PETA]

into pool next to table with martini

[hepkatmama]

the scary part is that if the chinese free market falls completely apart, they are more recently gentrified & can handle going back to the farm with no car or power.

we have destroyed any real rural infrastructure in this country. we can't pull off a deep depression like last century's. where will apt dwellers put their gardens?

[PETA]

Originally Posted by hepkatmama

the scary part is that if the chinese free market falls completely apart, they are more recently gentrified & can handle going back to the farm with no car or power.

Yeah, the party can handle millions of recently elevated new middleclass cats who are cast back into poverty without so much as a blink

If their economy collapsed they'd need harsh military control to prevent huge problems... that new middleclass is already a problem in so far as the more they get the more they want. The central gov't is actually using the rural masses as a counterpoint threat to that new middleclass.

Originally Posted by hepkatmama

we have destroyed any real rural infrastructure in this country. we can't pull off a deep depression like last century's. where will apt dwellers put their gardens?

hmmm.... what in the world are you talking about? We have huge agricultural surplusses and pay farmers not to grow.

Food is not in short supply. Nor would it be if the economy collapsed.

[matt]

we're all going to starve and die!

[Hey Bubu]

Lights up Opium pipe.


Um, What now???

[Adam D]

Good thing I don't have much of my retirement invested in stocks.

[PETA]

Originally Posted by Porkchop Avenger

Lights up Opium pipe.


Um, What now???

don't worry about it - you'll be fine

Originally Posted by Adam D

Good thing I don't have much of my retirement invested in stocks.

meh - 3% correction - no biggie compared to 1987

http://en.wikipedia.org/wiki/Black_Monday_(1987)

[Adam D]

Originally Posted by xian

meh - 3% correction - no biggie compared to 1987

http://en.wikipedia.org/wiki/Black_Monday_(1987)

Not trying to be a doomsayer, but who knows if the disaster on wall street today has balanced out or if it will get worse. Greenspan forsees a recession on the way, and I take him as a credible authority on economic forecasting.

[PETA]

Originally Posted by Adam D

Not trying to be a doomsayer, but who knows if the disaster on wall street today has balanced out or if it will get worse. Greenspan forsees a recession on the way, and I take him as a credible authority on economic forecasting.

Why the reversal in your opinion of him? You always seemed to think he was full of shit when he said the economy was growing and doing fine

[sepania]

Economists have been calling for a 7-10% correction for quite some time now. The market has just been trucking it's way up without a pullback since last May, and that was due almost entirely to the energy sector. There's a major shift from small cap to large cap that is also coming into play here. It's not JUST China that's causing all the hullabaloo.

3% is no big deal. It's likely going to keep going down. Sell short and/or buy some puts on the .SPX (or SPY to be extra safe) to CYA until we hit about 7%, then start buying back in while the prices are down. It sucks in the short run, but this is actually healthy for the market.