{"id":9668,"date":"2015-07-03T08:26:41","date_gmt":"2015-07-03T13:26:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9668"},"modified":"2015-07-03T08:26:41","modified_gmt":"2015-07-03T13:26:41","slug":"guess-what-happened-the-last-time-the-chinese-stock-market-crashed-like-this","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9668","title":{"rendered":"Guess What Happened The Last Time The Chinese Stock Market Crashed Like This?"},"content":{"rendered":"<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/guess-what-happened-the-last-time-the-chinese-stock-market-crashed-like-this\" target=\"_blank\">Guess What Happened The Last Time The Chinese Stock Market Crashed Like This?<\/a><\/h3>\n<p><a href=\"http:\/\/www.prophecyclubresources.com\/MICHAEL-SNYDER-GIFT-OFFER\/productinfo\/MS-BUNDLE\/\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-8915\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2015\/07\/Question-Button-Public-Domain-460x353.jpg\" alt=\"Question Button - Public Domain\" width=\"460\" height=\"353\" \/><\/a>The second largest stock market in the entire world is collapsing right in front of our eyes.\u00a0 Since hitting a peak in June, the most important Chinese stock market index has plummeted by well over 20 percent, and more than 3 trillion dollars of \u201cpaper wealth\u201d has been wiped out.\u00a0 Of course the Shanghai Composite Index is still way above the level it was sitting at exactly one year ago, but what is so disturbing about this current crash is that it is so similar to what we witnessed just prior to the great financial crisis of 2008 in the United States.\u00a0 From October 2006 to October 2007, the Shanghai Composite Index more than tripled in value.\u00a0 It was the greatest stock market surge in Chinese history.\u00a0 But after hitting a peak, it began to fall dramatically.\u00a0 From October 2007 to October 2008, the Shanghai Composite Index absolutely crashed.\u00a0 In the end, more than two-thirds of all wealth in the market was completely wiped out.\u00a0 You can see all of this on a chart that you can find\u00a0<a title=\"right here\" href=\"http:\/\/finance.yahoo.com\/echarts?s=000001.SS+Interactive#{%22range%22:%22max%22,%22allowChartStacking%22:true}\" target=\"_blank\">right here<\/a>.\u00a0 What makes this so important to U.S. investors is the fact that Chinese stocks started crashing well before U.S. stocks started crashing during the last financial crisis, and now it is happening again.\u00a0 Is this yet another sign that a U.S. stock market crash\u00a0<a title=\"is imminent\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-economic-collapse-blog-has-issued-a-red-alert-for-the-last-six-months-of-2015\">is imminent<\/a>?<\/p>\n<p>Over the past several months, I have been trying to hammer home the comparisons between what we are experiencing right now and the lead up to the U.S. financial crisis in the second half of 2008.\u00a0 Today, I want to share with you an excerpt from a\u00a0<a title=\"New York Times article\" href=\"http:\/\/www.nytimes.com\/2008\/04\/02\/business\/worldbusiness\/02yuan.html?pagewanted=all\" target=\"_blank\">New York Times article<\/a>\u00a0that was published in April 2008.\u00a0 At that time, the Chinese stock market crash was already well underway, but U.S. stocks were still in great shape\u2026<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guess What Happened The Last Time The Chinese Stock Market Crashed Like This? The second largest stock market in the entire world is collapsing right in front of our eyes.\u00a0 Since hitting a peak in June, the most important Chinese stock market index has plummeted by well over 20 percent, and more than 3 trillion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,6940,6529,6941,6530,6061,6588,6065,6699,3389,4315,1138,2731,6942,753,6943,6944,6945,6540,868],"class_list":["post-9668","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-china-stock-market","tag-chinese","tag-chinese-stock-market","tag-chinese-stocks","tag-financial","tag-financial-crash","tag-investors","tag-paper-wealth","tag-shanghai","tag-shanghai-composite-index","tag-stock-market","tag-stock-market-crash","tag-stock-market-surge","tag-stocks","tag-stocks-crashing","tag-u-s-investors","tag-u-s-stock-market-crash","tag-u-s-stocks","tag-wealth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9668"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9668\/revisions"}],"predecessor-version":[{"id":9669,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9668\/revisions\/9669"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}