Flash crash on Wall Street. What is ahead for the NYC RE market? (sale, co-ops)

[Yousseff]

Originally Posted by Forest_Hills_Daddy

China and Russia have been planning to do this for a while. That plan is now in flames.

China has been planning for years now for a global financial reset, followed by new monetary paradigm. At a macroscopic level, things at least appear to be going according to their expectations.

[leoliu]

Originally Posted by Yousseff

China has been planning for years now for a global financial reset, followed by new monetary paradigm. At a macroscopic level, things at least appear to be going according to their expectations.

They two can do whatever they agree to with each, but that may not have any impact on the existing global system anyway. When the Chinese economy goes under, two losers will not make a winner no matter how hard they try.

[Yousseff]

Originally Posted by leoliu

They two can do whatever they agree to with each, but that may not have any impact on the existing global system anyway. When the Chinese economy goes under, two losers will not make a winner no matter how hard they try.

I think the events of the past two weeks have exposed severe systemic vulnerabilities in the global financial system so any conjecture of this kind already falls into problems. In the short term, no-one will be a winner in the context of a global reset. It's what happens after that is the point of interest.

[Above Average Bear]

Originally Posted by 85dumbo

It will only make the NYC RE market more attractive to rich foreigners who need to park their money into something safe.

This ^^^

[Forest_Hills_Daddy]

Originally Posted by Yousseff

China has been planning for years now for a global financial reset, followed by new monetary paradigm. At a macroscopic level, things at least appear to be going according to their expectations.

They still cannot establish a global reserve currency.

[Yousseff]

Originally Posted by Forest_Hills_Daddy

They still cannot establish a global reserve currency.

I think a change in monetary paradigm is ultimately inevitable. What form it will take, though, will be interesting to speculate on.

[Forest_Hills_Daddy]

Originally Posted by Yousseff

I think a change in monetary paradigm is ultimately inevitable. What form it will take, though, will be interesting to speculate on.

Or we could all be dead by the time they set up a global reserve currency, at which point it is essentially irrelevant.

[Yousseff]

Originally Posted by Forest_Hills_Daddy

Or we could all be dead by the time they set up a global reserve currency, at which point it is essentially irrelevant.

Predicting these things with any accuracy is close to impossible. I suspect it will be within my lifetime at least, but it's speculative.

[mathjak107]

this volatility will be with us for a while . while the fact we are down 1600 points the last 4 weeks has hurt it is mostly the gains that evaporated that the markets gave us in the first place .

i figure we are down about 100k from july but we are down to a level i still wouldn't be at if i wasn't a market investor , it just goes with the territory .

it is like when i dealt with electrical contractors it was all on open account . you never knew the profitability on the account until the day came they stuck you . many do eventually but it is all part of the territory .

this being our first month in retirement drops can be hurtful if they do not recover quickly in the beginning so we may delay purchasing the co-op we were thinking of until we fully recover . looks like today may be a huge up day from the looks of the futures .

[brianNYC92]

China just cut its interest rate by 0.5%. The futures is now trading at 500+ points, as if the massive drop didn't happen yesterday. Whoever bought in yesterday have made a ship load of money.