Such is life when the market decides your dictator is an idiot.
It is farewell to capital:
And asset prices. Houses:
Stocks:
Housing stocks:
Not even credit can save it:
Taiwan invasion, anyone?
Goodbye, farewell and all that:
Moody’s Investors Service cut its outlook for Chinese sovereign bonds to negative, underscoring deepening global concerns about the level of debt in the world’s second-largest economy.
Moody’s lowered its outlook to negative from stable while retaining a long-term rating of A1 on the nation’s sovereign bonds, according to a statement. China’s usage of fiscal stimulus to support local governments and its spiraling property downturn is posing risks to the nation’s economy, the grader said.
One should always consider buying humiliation.
But not this time!
