Following my usual editorial policy (who sniggered?) that one picture is worth a thousand words from me, here is a chart from The Telegraph which should take your mind off all those silly hissy-fits being thrown about all over Europe:
Please note the time scale at the top - just three weeks! Now we can sit back and watch yet another authoritarian, command and control regime which played with free market ideas without ever really understanding how they work. Just like Berlin-Brussels, really!
However, to be fair to the Chinese authorities, all is not entirely lost, it just depends when, as a Chinese peasant or factory worker, you decided to gamble your savings on what looked like "a stairway to paradise":
If it was before April this year you may still be on a profit but I bet you're a worried man! But not as worried as the apparatchiks in the CPC (Communist Party of China) who by now may realise, as Mr. Peter Spence reports, that "There are now more stock market investors in China than members of the country's Communist party, according to Bloomberg - 90m versus 87.7m." 'Clikey'!
Anyway, the CPC in something of a panic over their late discovery that, unlike State statistics, what goes up in free markets usually comes down again, are now desperately trying to 'do a Canute'. According to 'Tyler Durden' at Zero Hedge, having used various financial policy shifts to no avail they have now reverted to type and in order to stop the selling that has depressed prices they have banned selling by all pension funds!
What's the Chinese for 'free market operations'? Probably, whatever I say it is, according to the First Secretary of the CPC!