Hello everyone.
Just a very quick post on the collapse in the Chinese stock market, and how it's being (mis)reported by mainstream media in China and in the West.
I'll assume all readers know that the Chinese stock market bubble has burst, and that the bursting is ongoing, with many stocks limit down today.
Reports in the media have all been saying the same things, which can be summarised as follows:
1. The Chinese government are doing all they can to stop the collapse.
2.The People's Bank of China is supporting the market, buying shares, helping brokers, and will do anything to keep it all propped up.
3. Interest rates are being slashed again to try to keep the bubble afloat.
4. Eventually, the Chinese will socialise the stock market and maybe the housing market.
