Not racist black…really bad market day. It isn’t as if there was no fair warning either.
But Beijing appears to have decided that it is too expensive to prop up the equity market, especially as it is now intervening separately on a massive scale to stop its currency from devaluing further.
Let’s cut the crap here folks — what has actually powered the rise since 2009? Was it really an improving economy? If it was, why is The Fed still at zero interest rates eight years after 2007 — and six years after the 2009 bottom?
Barter anyone? Looks like Greece is already well on its way to that system.