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The Great Fall of China Hundreds of Billions Wiped Off World Markets Today! (Video)
24 Aug 15
The selloff in Chinese stock markets have finally spooked Western investors. The Dow Jones closed below 16,000 after we recorded this, but there is more — freight rates for shipping containers between Asia and the West are now well below cost. That means demand for basic raw materials — bulk grain, iron ore, coal, etc. — is very low, an indicator that the global economy is slowing down.
Also: ISIS destroys temple of Baal-Shamin and a website promises eternal life online.
China’s ‘Black Monday’ sends markets reeling across the globe
Hundreds of billions wiped off world’s financial markets today, as Chinese rout sends shares tumbling in Europe, Asia and the US
Closing summary: China sends world market into a spin
China has been a major contributor to economic growth and low global inflation for more than two decades.
But tonight, investors around the globe are catching their breath after one of the worst day’s trading in many years. They’re now pondering whether today marks the start of a new and alarming phase of the crisis which began some eight years ago.
Mohamed El-Erian, former CEO of Pimco, believes today’s rout has sunk any prospect of US interest rates being raised next month. But he doesn’t believe we’re heading into a major crisis.
El-Erian told Bloomberg TV tonight:
“I’m not a buyer that this is the crisis of all crises.
Yes, this is a very unpleasant repricing, very unpleasant. And it’s going to go quite deep, but it’s not going to derail the economy in a major way.”
#blackmonday #prophecy #falseprophets
central banks just want to make one big reset most countries probably know this sand have not informed the public.Once we go digital the bloddlines and puppets stay in power forever.Prepare and remember the mark and do not take it.
The whole System is a bad joke.
They are creating Billions out of Nothing, now Billions out of Nothing disapears!
So what happend? Nothing!!!!!
It was only a 3 point fall, so quit the fear porn mongering. The great depression started with a massive 11 point fall. Of course it could and probably will have a knock on effect on the rest of the world, especially America. It’s a bit like the OPEC countries sticking their finger up at America by refusing to slow down on production so America can hype up the price artificially.. Interesting times, because in the long run China has the stronger economy, because their currency is backed by gold, v’s America’s debt based economy which is backed by nothing but brag and bluff.
Why are you only reporting the effect on China, not eg, Australia who lost close to a trillion?