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Black Monday: Wall Street closes with worst losses in 4 years

Het is nogal rumoerig op de financiële markten. Vrijwel alle aandelen dalen in prijs. Het begon in China, dus krijgt China de schuld, maar in feite is het hele financiële systeem gammel. Na de “huizencrisis” van 2007/2008 hebben de centrale banken grote hoeveelheden geld in de economie gepompt, maar als dat geld niet wordt geïnvesteerd in een verbeterde productie, dan levert dit op den duur niets op. Het geld ging naar de beurzen, waar de aandelen in prijs bleven stijgen, alleen China kende nog economische groei! Maar ook daar ging veel te veel geld naar de beurzen, tot die luchtbel barstte. De daarop volgende devaluatie van de yuan deed de rest: BOEM!!! Alle beurzen implodeerden.

China’s economy is getting very dangerous, will affect the US – Thom Hartmann

The REAL Reason China’s Economy Is Crashing

In 2010, the increase in private debt in China was equivalent to 35% of GDP. That dwarfs the rate of growth of credit in both Japan and the USA prior to their crises: Japan topped out at just over 25% per year, and the USA reached a “mere” 15% of GDP per year

As I have argued for a decade now, crises begin when the rate of growth of credit slows down in heavily indebted countries. China was not heavily indebted in 2008, which is why it could take the credit growth path out of the Global Financial Crisis. But now it is more heavily indebted than America was when its crisis began—even relying on official statistics which undoubtedly understate the real situation—and the momentum of debt may well carry it past the peak level reached by Japan after its Bubble Economy collapsed in the early 1990s.

So China is having its first fully-fledged capitalist crisis. To date its response to it has been to try to sustain the unsustainable: to transfer the bubble from housing to the stockmarket, and to keep the stockmarket rising like some production target for wheat from the bad old days before the fall of the Gang of Four. It can’t be done. At some point, the Chinese government is going to have to make the transition from generating a credit bubble to trying to contain its aftermath.

Stock Selloff: Panic Time or a Blip on the Radar?

By Mike Whitney

Ostensibly, last week’s selloff was triggered by China’s unexpected decision to devalue its currency, the juan. The announcement confirmed that the world’s second biggest economy is rapidly cooling off increasing the likelihood of a global slowdown. Over the last decade, China has accounted “for a third of the expansion in the global economy,… almost double the contribution of the US and more than triple the impacts of Europe and Japan.” Fears of a slowdown were greatly intensified on Friday when a survey showed that manufacturing in China shrank at the fastest pace since the recession in 2009. That’s all it took to put the global markets into a nosedive.

My own feeling is that China is not the real issue. Yes, it is the catalyst for the selloff, but the real problem is in the credit markets where the spreads on high yield bonds continue to widen relative to US Treasuries.

Whether the troubles started with China or the credit markets, probably doesn’t matter. What matters is that the system about to be put-to-the-test once again because the appropriate safeguards haven’t been put in place, because bubbles are unwinding, and because the policymakers who were supposed to monitor and regulate the system decided that they were more interested in shifting wealth to their voracious colleagues on Wall Street than building a strong foundation for a healthy economy. That’s why a simple correction could turn into something much worse.

De oorzaak van de crisis ligt in de schulden-economie! In China hebben veel mensen geld geleend om aandelen te kopen. Zolang de rente laag is en de aandelen stijgen, is dat een leuke manier om “slapend rijk te worden”. Maar als de aandelen dalen en de waarde lager dreigt te worden dan de schuld, verkopen deze mensen snel hun aandelen. Het gevolg is dat de waarde nog verder daalt. In de 17e eeuw deed men dit reeds met tulpenbollen!

What is causing China’s economic slowdown? duurt 25 minuten.

Gepubliceerd op 24 aug. 2015

Chinese markets plunged on Monday in the biggest loss since the financial crash of 2007. There is growing concern among investors that the world’s second-biggest economy is declining more than previously thought. The government has injected $100 billion into banks to help spur the economy. Earlier, China’s central bank devalued the yuan in a move seen as a bid to help exports. But what is causing this decline? And what are the ramifications for the global economy?
Presenter: Mike Hanna
Guests:
Fraser Howie – Co-author of ‘Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise.’
Alberto Gallo – Head of Macro Credit Research at the Royal Bank of Scotland.
Peter Schiff – CEO and Chief Global Strategist of Euro Pacific Capital.

Het zijn echter niet alleen de schulden waaraan de economie ten gronde gaat. De gapende kloof tussen arm en rijk is een andere factor. In een gezonde economie levert iedereen een bijdrage! In onze economie kan China weliswaar veel en goedkoop produceren, maar tegelijkertijd verdwenen de banen in de VS en Europa, de westerse welvaart verdween, dus de afzetmarkt valt weg! Zoals gewoonlijk legt professor Richard Wolff het heel duidelijk uit.

Full Show 8/24/15: Market Meltdown duurt 57 minuten. In deze video zitten drie kleine pauzes met reclame voor andere RT programma’s: van minuut 12.50 tot minuut 15, van minuut 27.50 tot minuut 30 en van minuut 42.32 tot minuut 44.40.

Gepubliceerd op 24 aug. 2015

Tonight on The Big Picture, Thom takes a look at the U.S. and global markets and discusses the state of both economies.

Dr. Richard Wolff, Professor of Economics Emeritus at the University of Massachusetts Amherst and author of “Democracy at Work: A Cure for Capitalism joins Thom to talk about Monday’s historic lows in the financial markets. Richard Wolff breaks down China’s economy and if the devaluation of the yuan is the root to this market meltdown. Then Thom and Richard take a look at the U.S. economy and review wage growth, inequality, and pensions.

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33 Reacties op “Van de Chinese beurscrash naar Zwarte Maandag”

  • Ben:

    Zoals eerder geschreven: allemaal windhandel en dus geen echte economie.

    Groeten, Ben

    • Boudine:

      Maar, Ben, het heeft helaas wel heel veel invloed op de echte economie!

    • Ben:

      Hi Boudine,

      Kapitalisme is diefstal en de beurs is een van de manieren waarop deze diefstal gepleegd wordt. Het lijkt mij sterk dat de beurs de plek is waar het meeste gestolen wordt. Daar heeft men maar beperkte controle en zo dom zijn de kapitalisten niet. En dus is ook de invloed op de echte economie er wel degelijk maar beperkt. Het is vooral een hype voor politiek doeleinden.

      Groeten, Ben

      • Boudine:

        Nou, dan is de diefstal nu geglobaliseerd! Arme Chinezen die hun geleende geld belegden in tulpenbollen oftewel aandelen. Het blijkt gebakken lucht. Tulpenbollen zijn niet eetbaar.

  • Boudine:

    Smoke and Mirrors of Corporate Buybacks Behind the Market Crash

    The Real News met professor Hudson duurt 11 minuten en laat zich niet embedden.

    Gepubliceerd op 25 aug. 2015

    Michael Hudson, the author of Killing the Host: How Financial Parasites and Debt Destroy Global Economy, says the stock market crash on Monday has very little to do with China and all to do with shortermism and buybacks of corporations inflating their own stocks.

  • yvonne:

    Ad Broere over nieuwe beurscrash | Earth Matters TV, zijn boek: Geld komt uit het niets, heb ik jaren geleden gelezen, een eye-opener! Werd getipt over dit gesprek door lieve speurvriendin…..

    https://www.youtube.com/watch?t=322&v=NXNCgp1mEdo

    Ad Broere over nieuwe beurscrash | Earth Matters TV duurt 16 minuten.

    • Boudine:

      Dank je wel, Yvonne. Want iedereen doet maar alsof er niets aan de hand is. Halleluja! Niets aan den Handa! Maar binnen dit economische systeem is er volgens mij echt iets aan de hand.

  • Boudine:

    Global Crash: What They’re NOT Telling You duurt 16 minuten.

  • Boudine:

    China’s Central Bank Injects $23.4 Billion as Yuan Intervention Drains Funds:
    China’s central bank injected the most funds via open-market operations in six months and cut lenders’ reserve ratios, adding cash as it buys yuan to prop up the exchange rate and tries to arrest a stock-market slide.

    US stocks reverse in final hour; Dow falls 205 points
    The move erased some of the stock market’s heavy losses from a day earlier when concerns over a slowdown in China’s economy rattled global markets and knocked down the Dow Jones industrial average more than 588 points.

    Chinese Central Banker Blames Fed For Market Rout:
    While the western mainstream media meme is that “this is all China’s fault” – despite the fact that the real break happened after the FOMC Minutes last week – Xinhua reports that China central bank blames wide-spread expectations of a Fed rate hike in September for the global market rout… demanding The Fed “remain patient.”

    US oil finishes below $40 for first time since 2009:
    US benchmark West Texas Intermediate (WTI) for October delivery dropped $2.21 to $38.24 a barrel on the New York Mercantile Exchange, its first below-$40 close since February 2009.

  • Nexus:

    De echte economie zijn wij! Als wij morgen met zijn allen stoppen met werken, kopen, reizen, etc. knallen alle beurzen wereldwijd uit hun voegen. De echte economie laat zich manipuleren door een kunstmatige economie. Terwijl de echte economie de enige echte macht is en bezit!

    Al deze spelletjes zijn een regelrechte oorlog tegen de mensheid door de elite van deze wereld. Er is maar één manier om hier uit te komen en dat is dat iedereen gaat beseffen hoe het werkelijk in elkaar steekt, wie oorlogen financieren en waarom, enkel winstbejag en macht. Burgerlijke ongehoorzaamheid is het antwoord op alle ellende. Weigeren nog langer zaken uit te voeren die tegen ons gevoel ingaan. De groep onwetenden daalt gestaag, de groep wetenden stijgt gestaag, er zal ergens een mijlpaal bereikt worden en dan wordt bovenstaande wens misschien werkelijkheid.

    Tot die tijd is het informeren van iedereen die dit wilt belangrijk en daarom zijn websites zoals Boublog zo belangrijk! Uiteindelijk hebben alle alternatieve websites samen één gezamenlijk doel! Wat mensen vroeger vanuit schuilkelders deden, doen wij nu vanachter de computers.

  • yvonne:

    Helemaal mee eens Nexus, koppen bij elkaar, en geen, wie heeft gelijk-spelletjes! Tijd voor spelletjes is voorbij……..

    http://delangemars.nl/2015/08/25/alternatieve-media-komen-met-live-uitzending-op-prinsjesdag-2015/

    Op initiatief van WeAreChangeRotterdam zenden de alternatieve media dit jaar een live-verslag uit van Prinsjesdag op 15 september vanaf 12.00 uur.

    Zij stellen: “Wij zijn het oeverloze gewauwel van de NOS en de commerciële roeptoeters tijdens de jaarlijkse live verslaggeving van Prinsjesdag meer dan zat. We zien niet uit naar de zalvende commentaren op het optreden van de Oranjekliek. Ook niet naar de opiniemakers die de Miljoenennota2016 hoe dan ook weer positief gaan spinnen.
    En daarom doen we het dit jaar gewoon zelf!”

    “Met kritische vragen, boeiende gasten en scherpe interviews live vanuit ‘hartje Den Haag’. Op 15 september valt er dus wat te kiezen! Volg dus onze live verslaggeving “noNOnSense Prinsjesdag” via de YouTube stream.”

    • Boudine:

      Dank je wel, voor het compliment, Nexus. En Yvonne ik zet alvast weer mijn “rode baret” op, hetgeen volgens mevroiw Laster een teken bleek van lidmaatschap van een vrijmetselaarsorde. Ach, het is maar een alpinopet, ooit gekocht in het Loire-gebied op een marktje, voor destijds 10FF en wat centimes terug. Maar die pet is zo lekker!!! Alle Franse boeren hebben zo’n pet. 🙂
      Leve de luxe hoedjes modeshow die ons in september weer wacht en hoed u voor de alpinopet, want die petten eisen de macht! 🙂

      (misschien moet ik deze reactie wat beter documenteren, met de protesten van de Franse boeren!)

      • Boudine:

        Nou, daar issie dan:
        1000 tractors in Paris: Irate farmers drive in center of French capital

        Gepubliceerd op 3 sep. 2015

        Over 1,000 tractors driven by protesting farmers descended on Paris on Thursday, blocking motorways as they crept toward the French capital. The protest was organized by the National Federation of Agricultural Holders’ Union (FNSEA), who are rallying against the falling prices for agricultural products and the EU’s response to the crisis. Some tractors have writing daubed upon them, including ‘France do not abandon your peasants” and “stop pissing off farmers.’

  • Boudine:

    Gerald Celente – Trends In The News – “Another Day, Another Diving Market” – (8/24/15)

  • Nexus:

    @ Yvonne,

    Ik heb al een suggestie geplaatst op de aankondiging van Wearechange en het alternatieve TV programma. Ik heb ze voorgesteld eerst even duidelijkheid van zaken te geven over de koningshuizen in Europa. Dat het vrijwel allemaal Duitsers zijn van de tak Saxen Coburg, de Britten hebben zelfs in WO1 hun naam gewijzigd van Saxen Coburg in Windsors om geen argwaan te wekken bij hun bevolking. De Belgen komen ook van die tak. Zet daarnaast de invloeden die de Duitsers hebben gehad op Argentinië ( junta ) de VS,(operatie paperclip )en de drang om de Russen te overmeesteren en zet dan eens af tegen de realiteit waarin wij vandaag de dag leven. Kortom, een geweldig moment voor de alternatieve media om eens heel duidelijk te maken wie die mensen zijn die op de tronen zitten in Europa en de rest van de wereld.

    Ik hoop dat ze er iets mee doen.

  • Boudine:

    How To Stop the Coming Economic Crash

  • Boudine:

    Washington’s Financial / Currency War on China: Eclipsing of US Dollar by Yuan
    Mahdi Darius NAZEMROAYA | 30.08.2015 |

    The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and opening regional distribution banks for their own national currency. This will give them easier access to capital markets and insulate them from financial manipulation by Washington and Wall Street.

    Fearing the eclipsing of the US dollar and the Bretton Woods system by a rival financial architecture the US response has been an attempt to damage the Chinese markets and increase the value of China’s currency. China has responded through regulations in the market and then quantitative easing of its currency to maintain the low prices of Chinese manufactured goods and exports.

    Using speculation as a psychological weapon and market manipulation, the US launched a financial strike against the Chinese. This was done through an attempt to sink or crash the Chinese stock market and hurt investor confidence in the Chinese economy and its stocks. Beijing, however, reacted quickly by imposing controls on investment withdrawals. This prevented the snowballing of stock selloffs and defused the US financial bomb.

    As the price of renminbi began to rise Beijing began quantitative easing to devalue its national currency as a means of continuing export trade. The US Congress and White House began to loudly object. The accused the Chinese of financial manipulation and demanded that Beijing do nothing to readjust the value of the renminbi. What the folks in the Washington Beltway wanted was for the Chinese to let the value of the renminbi to rise as a means of disrupting China’s economy and market.

  • Boudine:

    Beijing Bingo

    By Eric Margolis

    August 30, 2015 “Information Clearing House” – My father, a New York financier, used to call dubious stocks or bonds, “Chinese paper.” Last week, we saw a blizzard of Chinese paper, both in China and around the world.

    As manager of a sizeable investment portfolio (an unwelcome second job from my main work, journalism), I watched last week’s near death experience on world markets with a mixture of cynicism and alarm.First of all, remember when Americans – and particularly Republicans – demonized Mao’s China and endlessly warned about the perils of Communism?

    Well, the Chinese seemed to have listened. China ditched Communism and embraced runaway capitalism – or at least a hybrid of 1900 raw capitalism and state socialism. But Chairman Mao was proven right. He warned his people against the evils of “casino capitalism” and money lending.

    Welcome To The Trade Deal Wars

    By Pepe Escobar

    August 30, 2015 “Information Clearing House” – “Asia Times” – BANGKOK — China continues to grow at a not too shabby 7%. And yet, because of the yuan devaluation and the sharp drop in the stock market, in most Western capitals the narrative switched to Armageddon descended over an economic model that generated, over the years, six-fold growth in Chinese GDP.

    Few are aware that Beijing, simultaneously, is engaged in a thrice titanic task; to shift its growth vector from exports and massive investment to services; to tackle the negative and/or self-satisfied role of state-owned enterprises; and to deflate at least three bubbles — debt, real estate speculation and the stock market — in the context of a virtual global economic stagnation.

    All this while there is virtually no Western coverage of the China-led Eurasian trade integration push, which will help to eventually consolidate the Middle Kingdom as the largest economy in the world.

    And that brings us to a crucial subplot in the Big Picture: Southeast Asia.

    Counting the Cost – Black Monday: The great fall of China duurt 25 minuten.

  • Boudine:

    Why China May Cause the Next Crash duurt 11 minuten.

  • Boudine:

    Return to Crisis: Things Keep Getting Worse

    by Mike Whitney

    While the slowdown in China may be the spark for recent volatility, it certainly isn’t the cause. There’s a growing consensus that the real problem originated in 2008 when the Fed refused to write-down the debts from the insolvent banking system thus creating the conditions for another calamitous financial crisis sometime in the future. And while the Fed’s zero rates and titanic doses of liquidity might have helped to ease the symptoms by flooding the system with cash, the underlying issues remain the same. Thus, as the medication has worn off, the virus has reappeared stronger than ever revealing the ineffectiveness of the Fed’s remedies and the urgent need for alternate therapies.

    Stocks are massively overpriced due to the setting of interest rates below the rate of inflation which creates a subsidy for speculators. The policy has had the precise effect that the Fed intended, it has generated a humongous asset bubble in stocks and bonds transferring trillions of dollars to Wall Street banks and financial institutions. According to Yale economist Robert Shiller, the only time stocks have been this “high or higher were in 1929, 2000, and 2007—all moments before market crashes.”

    While it’s always possible that the markets could stabilize or stocks could rebound sharply, it’s more likely that we have reached a tipping point where the excesses are about to be wrung from the system through an excruciating downturn followed by an inevitable currency crisis. We expect the six year-long fake recovery to end much like it did in 1929, where one demoralizing selloff followed the other, and where the crashing of stock prices fueled the publics distrust of the central bank, the government and all of the nations main institutions.

    Stocks Tumble on Weak Chinese Data

    Recession confirmed as Canada’s GDP shrank in 2nd quarter

    Global Trade In Freefall: South Korea Exports Crash Most Since 2009

    Putin Says Dump Dollar

    By RT‎

    September 01, 2015 “Information Clearing House” – “RT” – Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.

    This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.

    “This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.

    The bill would also help to facilitate trade in the region and help to achieve macro-economic stability.

    ==============================================================

    ‘China V-Day parade sending multiple messages to Asia and West’ – Pepe Escobar duurt 9 minuten.

  • Boudine:

    De Chinese beurscrash heeft wel degelijk invloed op de echte economie. Deze was al tanende, maar de Chinese overheid probeerde de beurs juist overeind te houden. Het resultaat was een grote luchtbel! Toen die barstte, verloren er een hoop mensen veel geld!

    Author: F. William Engdahl
    The Great Stock Crash–Chinese Leaders Ignore Lessons of Wall Street at a Peril

    Gumin is the Chinese word for investor. The recent Chinese stock market bubble had been fueled by a government that lured some 90 million ordinary Chinese, most with little or no experience in the risks of stock buying, encouraging them to pour their private savings into Chinese stocks. Ordinary gumin, including low-income workers, street hawkers, farmers, and housewives are estimated to have each lost an estimated 420,000 yuan each as of July 4 according to Guangzhou Daily, a tremendous amount as measured against their total wealth. There is a growing social backlash of suicides and violence. In one reported case in Nanchang a man killed his wife because she had run up stocks-related debts of 1.8 million yuan.

    First appeared: http://journal-neo.org/2015/09/05/the-great-stock-crash-chinese-leaders-ignore-lessons-of-wall-street-at-a-peril-2/

  • Boudine:

    China: Reformers and Compradors

    By James Petras

    September 11, 2015 “Information Clearing House” – China’s wealthiest classes have secured their recent fortunes through various means, both legal and illegal: These include (1) the privatization of public enterprises; (2) the savage exploitation of cheap labor after destroying workers rights , protections and social welfare legislation; (3) large-scale, long-term corruption of government officials; (4) the often violent state-sponsored land-grabs from towns, villages and farmers and the land transfer to private investors; (5) real estate speculation; (6) changes in state regulatory policies leading to oligopolistic control of markets; (7) large-scale tax evasion, money laundering and offshore transfers of profits and (8) state policies dictating low wage and salaries and repressing workers collective action.

    The Communist leadership’s pursuit of an ‘export-oriented’ growth model, based on reducing labor costs to secure competitive advantages in world markets, coincided with the emergence of aggressive Chinese capitalists intent on increasing their profits and concentrating private wealth.

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