Unfortunate choice of words

I hope they mean they captured the whole guy, still breathing:
The head of a Chinese exchange that trades minor metals was captured by angry investors in a dawn raid and turned over to Shanghai police, as the investors attempted to force the authorities to investigate why their funds have been frozen.
The Dow has already bounced back up 500 points, by the way, but things are still looking a bit hectic here and there around the world.  West Texas Intermediate oil slipped below $38/barrel.


Grim said...

I've never seen brawls like I saw in China. Knock-down, drag-out fistfights between huge groups of people would erupt over who got a taxi that showed up. The head of this guy may or may not be attached, but if he was brought in by an angry mob I'll bet it's bruised and concussed. :)

Ymar Sakar said...

Peak oil. The Chinese should have known better and put their precious metals in Zurich, where US or Chinese superpowers can't get to em as easily.

China's still coming back from the Cultural Revolution and the violence of personal duels, so it's closer to Grim's ideal than current day Southern Democrat fighting boys are.

E Hines said...

The head of the exchange--a position--not the head of a guy--an adulticized body part....

The market's behavior is just the usual panic from another country's economic doldrum, compounded by an overblown view of that country's economy's impact on ours and Europe's, potentiated by the market (ours) being long into a strong bull (the market, not our underlying economy). In the end, it's just a normal 10%-ish drop, compressed into a few days instead of a few weeks.

And folks keep ignoring that the PRC's high GDP growth rate is coming against a very low baseline--an economy that couldn't even feed its own people.

Really, nothing more to see than usual.

The risk is about a generation in the future, when its slow-growing demographic crisis starts to dig in.

Eric Hines

Grim said...

"... the Cultural Revolution and the violence of personal duels, so it's closer to Grim's ideal..."

Ah, yes. Nowhere will you find greater longing for China's Cultural Revolution than right here. If only we had some Red Guards to enforce Donald Trump's latest dictates upon the running dogs.