By MN Gordon
Rags to Riches
Jack Ma is an amiable fellow. Back in 1994, while visiting the United States he decided to give that newfangled internet thing a whirl. At a moment of peak inspiration, he executed his first search engine request by typing in the word (Read More....)
. . . → Read More: Trump’s Plan to Close the Trade Deficit with China
by MN Gordon
There’s a good ole fashioned market panic taking place in the Far East. Buyers of Chinese stocks have become scarcer than hen’s teeth. Even the highly visible hand of the Chinese government can’t arrest the freefall.
On Monday, for example, the Shanghai Composite Index collapsed nearly 9 percent. This was in the face of bans on selling shares and direct stock purchases by Beijing. Shrewd individuals sold despite the government’s outright threats and demands not to.
No matter how you look at it, government efforts to prop up the market are futile. They won’t fix the fundamental imbalances. Market distortions and malinvestments from years of cheap credit have pushed the (Read More....)
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