Thursday, January 07, 2016
Don't look at your 401-k today
Among my wacky theories is that man cannot kill the planet be it through nukes, overpopulation, global cooling, global warming, or climate change.
Another is that just as you should not start a land war in Asia, Asians should not start a land grab in the United States, A quarter-century ago, Japanese investors started buying American land at outrageous prices. Their economy caved shortly thereafter and has not really recovered. When China began buying U.S. land, I knew the end was near -- for them.
So today is the fourth day of trading this year on the stock markets across the world and for the fourth time, China had to halt trading as the stocks fell too fast for comfort. Stocks there have lost about a quarter of their value in four days, and it still does not look like a good time to pick up bargains.
From Zero Hedge: "Following the collapse of offshore Yuan to 5 year lows and decompression to record spreads to onshore Yuan, The PBOC has stepped in and dramatically devalued the Yuan fix by 0.5% to 6.5646. This is the biggest devaluation since the August collapse. Offshore Yuan has erased what modest bounce gains it achieved intraday and is heading significantly lower once again. Dow futures are down 100 points on the news."
The Chinese economy is cratering while our own still has not recovered from the 2008 collapse. Europe is being raped by Muslims and the price of oil has thrown another log on the bonfire that is the Middle East.
And nearly half the Democrats think 90 percent-taxer Bernie Sanders is the answer..