One of the “rules” of investing is don’t try to stop a falling market by trying to stand in its way. It’s the fast path to poverty.
Yesterday, China decided to follow the prosperity through spending model of Obama/Geithner and announced a large spending program to boost its economy causing the world markets to go up around 3%
Apparently, they have realized the folly of their ways and said “no more”. Today the free fall continues – down 3.5% before noon, and heading straight down.
Tags: china