Sidetalk

It is coming to light that China has spent a boatload of money on creating and maintaining a model socialist community.  So much money in fact that it will take 200 years for the village to pay back its debts.  But this model socialist community is not what we might expect - there’s a reason it’s called the “Billionaire Red Village. (more…)

“Some investors might think they have had a rough ride on the stock market over the past seven or eight months. But the recent share price gyrations pale into insignificance when compared with the biggest stock market falls of all time.

10) Wall Street 1901-03 -46%
The market was spooked by the assassination of President McKinley in 1901, coupled with a severe drought later the same year. (more…)

And then nothing bad will happen? From Naked Capitalism, the Tinkerbell market explanation:

” I am frequently mystified at what goes on in the markets. I am even more mystified when people who ought to know better make pronouncements that appear to be profoundly counter-factual. Even if they are talking their own book, the high odds of being revealed as (bald-faced liars) proven wrong ought to make them worry about damaging their credibility. (more…)