Great post FTG and yes lots of people were watching that triangle pattern...
The russian economy will be doing great with their Oil and Gas sales to Europe now.
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Driver shortages pre-date Brexit but have worsened since. All the same I'm glad to see them stop exploiting those poor Eastern European workers. Hopefully those left behind get treated better: https://www.bbc.com/news/56846637
The whole thing is rediculous, across the EU there is a worker shortage due to ageing populations. Every country should be fighting tooth and nail to get workers to move there, integrate, find employment, settle down and start a family.
https://www.reuters.com/world/china/...es-2021-09-28/
As expected, Evergrande being bailed out Air NZ style.
More akin to Bear Stearns except they are only taking a slice so far.
The Chinese government have intervened now via a local government bank for a $1.5bn slice of Evergrande assets as well. However as part of the agreement have been directed to use all funds to complete the 1.6m pre-sold properties under construction and pay suppliers but not repay bondholders, accounts are being actively monitored to ensure this happens. It's appears to me it's being wound down and bondholders are going to end up fighting over the burned out shell of a company.
Attention is now moving to other highly leveraged Chinese developers.
sept lived up to its reputation as the worst mth of the year for stock returns now lets see how oct goes the month with the most market crashes in history :scared: probably just a coincidence its oct
U.S. stocks pulled back on Thursday as Wall Street wrapped up its worst month of the year on a sour note
https://www.cnbc.com/2021/09/29/stoc...-newshtml.html
looks like a bidding war coming on due to energy crunch developing , will drive prices much higher
China Orders Top Energy Firms to Secure Supplies at All Costs
https://www.bloomberg.com/news/artic...d=premium-asia
Nuclear energy should be part of the mix, Germany made an unwise move trying to scrap it.
Plus $1T worldwide should be put into fusion given its potential benefits
If only they hadn't bullied and threatened the world's second biggest exporter of coal with nuclear attack huh?
If anyone is interested in how China really works at the top levels and how dynastic the Communist Party has become with its red princelings, I recommend reading Red Roulette by Desmond Shum or watching an interview with him like this one or if you prefer extra drama, the 60 minutes Australia interview.
I guess its all about risks, and investors should understand this concept.
Ask the people who used to live next to Chernobyl, Fukushima or Three Mile Island whether it was a great idea to build a nuclear reactor close to their home ... well, this is the ones who are still alive.
Accidents do happen and risks and reactors do blow up - and in the case of a nuclear reactor the outcome of it blowing up is pretty unsatisfactory for anybody living close by (note: in the case of Chernobyl "close" was some thousand km for people living in the wrong direction - under the wind and having rain after the accident).