Investors in the stock of Glencore, the giant commodities mining and trading company, lost almost a third of their portfolios’ value on Monday.
With the entire planet over-leveraged with cheap debt, it won't take much to begin the deleveraging.
In the face of the dramatic collapse of its stock market in recent months, the communist dictatorship ruling mainland China responded as it does to most perceived problems: with outright tyranny and terror. From detaining and terrorizing stock traders to censoring and manipulating press coverage of the markets, Beijing is again revealing its true colors: red and redder. The consequences of the regime's response will likely be felt for years to come, with one expert comparing China's stock market today to a “roach motel.”