The World Is Backwards & We Are The Losers: China Introduces Short Selling & Margin
Posted by Timothy Sykes on Mon 6th of Oct, 2008 10:13:52 AM
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When I saw this Marketwatch news article about China just now introducing Short Selling amd margin borrowing, I couldn’t help but feel that there is some justice in the world.
No matter their country’s many many many many issues, injustices, anti-freedom laws and regulations, this move is a big/well deserved smack across the greedy/ignorant faces of investors/traders/regulators of the US markets as our leverage-and-coke-loving-short-selling-scapegoating joke of an inudstry has been outclassed by one of the lowesst, if not the single lowest, society on earth.
Our “modern society” prides ourselves on freedom, industry, hard work, and innovation while China is known for their lack of religious and capitalist freedom, having to shut down factories during the Olympics so international visitors wouldn’t know how polluted their air is and human rights abuses galore, policies so ridiculous and backwards tha they’ve been known to make citizens set themselves on fire in protest…and yet with this one simple step of embracing market mechanisms that increase market acitivity/liquidity/efficiency, China, has jumped waaaaaaaaaaaaaaay ahead of the US in terms of thinking rationally, at least in finance.
This is a sad day for all Americans. Our government/industry regulators should be ashamed. Hell, we citizens should be ashamed.
For we allow people with power to institute socialist rules, scapegoating short sellers as the cause of the falling markets when in fact the entire Short Selling niche is one of the tiniest, if not the tiniest, strategy in use by today’s traders/investors aka we didn’t cause the crash, we just profited from it.
(Investigation into manipulative Short Selling practices? LOLOLOLOL Please, this is a witch hunt comparable to looking for Communists in Holylwood. Hint: the best way to combat Short Selling is to have healthy balance sheets/well run companies–then you can easily squeeze the greedy bastards!)
Maybe the $50k/year SEC drones should spend their time researching what Short Selling actually is and how it’s probly more helpful than harmful to markets. One of you rich reader peeps should be nice and send em a copy of my brand new ShortStocking DVD for Christmas (I’m not that rich or nice).
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Total: $98,094 (681%)
