The really worrying financial crisis is happening in China, not Greece

[rdunk]

If China's financial markets go into the toilet, just where will that leave the rest of the world?? Could this possible coming event in China be the catastrophic hit envisioned for September 2015, rather than an "asteroid"? Certainly at this point the reality of a China financial event is likely greater than an incoming asteroid, and the resulting "financial destruction" realized around the Earth could very well be a disastrous event, as it plays out.

The Telegraph

By Jeremy Warner12:25PM BST 08 Jul 2015

While all Western eyes remain firmly focused on Greece, a potentially much more significant financial crisis is developing on the other side of world. In some quarters, it's already being called China's 1929 – the year of the most infamous stock market crash in history and the start of the economic catastrophe of the Great Depression.

The parallels with 1929 are, on the face of it, uncanny. After more than a decade of frantic growth, extraordinary wealth creation and excess, both economies – America in 1929 and China today – are at roughly similar stages of economic development. Both these booms, moreover, are in part explained by extremely rapid credit growth. Indeed, China's credit boom dwarfs that of even the "roaring Twenties". Borrowed money, or margin investing, played a major role in both these outbreaks of speculative excess.

More: http://www.telegraph.co.uk/finance/china-business/11725236/The-really-worrying-financial-crisis-is-happening-in-China-not-Greece.html

[astr0144]

Yes the Chinese Stock Market has certainly had a fair decline since the recent Mid June high of about 5200.

You can compare the Chinese Stock Index Market over the last ten years..

Surprisingly the Highs of about 6200 made back in Oct 2007 still hold when we had that huge World wide crash...

What we see in the Chinese stock Market was what I expected in the USA stock Market... ie the 2007 highs to hold and the market to have had an attempted rally that made a 2nd main LOWER high..and then declined back down again..maybe to even lower than the lows made in March 2009 for the Dow.

The Chinese Market made a low towards the end of 2008.

It fell to about a 50% retracement of about 3200 between the 5200 June 2015 high and the approx 1600 .....2008 low..sometimes markets bounce back a bit when this happens.

It could be very  concerning however if it breaks below the 2008 low.. that may become a 1929 scenerio..for China anyway...

Not sure How this will effect the World Wide Markets and the USA...maybe a knock on effect or will the USA become the strong World wide economy again ?


http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=CN%3ASHCOMP&insttype=&freq=2&show=&time=13





http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=CN%3ASHCOMP&insttype=&freq=2&show=&time=13