I Guess Lardy Was Right.

I’m not an economist but I do understand that this week saw a plunge in stocks world wide, and of course there are those who would like to know why this occurred. Well and article posted on Bloomberg’s website, Asian Stocks Add to Global Rout After China’s Slump; BHP Drops, at least puts some of the blame on China. The article claims that China’s government has taken measures to stop illegal purchase of stocks, to stop banks from loaning money to those who wish to buy stocks, and has called for banks to call in outstanding loans. Lardy predicted a similar event to occur in the article that I commented on in my last blog. In his article his said that the Chinese government should have taken the above measures years ago or else a plunge in the market world market would happen. So I guess Lardy was right.

~ by palps88 on March 3, 2007.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: