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Chinese Market Blame Game

Many readers don’t have the time or interest to delve into the financial details of markets. The media made much hay of the February 27th market collapse and the fact that the Chinese market triggered it. This of course, is pure nonsense, and a good example of how all media, including the financial media, tend to pin the blame on the issue that is in closest cognitive proximity.

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Chinese Irrational Exuberance

China recently stepped up efforts to reign in market exuberance. It is illegal for Chinese to buy stocks on margin, though this rule is largely ignored. Beijing has been stepping up enforcement as well as parading negative investors on state run TV.

I guess this is their version of the Fed Chairman addressing congress.
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