BANZAI7 NEWS--China’s stock markets saw another day of steep sell-offs on Wednesday, extending a two-week battering. The Shanghai composite index, China’s main market gauge, slipped into bear market territory, having lost about 20 percent of its value since Aug. 4.
Chinese officials are rumored to be examining state controlled real estate securitization as an alternative method of stimulating wealth. Premier Who? said: "Many are unaware that quantitative finance is really an ancient dialect of Chinese magicians. We have a wealth of empty office blocks, condos and shopping malls. Now we can manufacture paper profits better than the Americans."
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