09 July 2015

Quote of the day (2)

From here:
This is what you are not allowed to say in China: the stock market is an equity disaster and the authorities have failed to rescue the market. The phrases “equity disaster” and “rescue the market”, you see, have been banned from market reports.
For official consumption, the Chinese Communist party is merely adopting sensible measures to address a temporary outbreak of irrationality among investors; calm will return any day now.
Yeah, right. Big shareholders have been banned from selling for six months, and trading in almost half the stocks on the Shanghai and Shenzhen stock exchangeshas been suspended, an attempt to air-brush the fact that the real prices would be substantially lower.
"Temporary irrationality"?  Inscrutable ...

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