4 ms·

Hacker news worthy?

• hodwik 11y ago
  China is 1.3 billion people, and you want to know if a 7% crash in their economy is 'worthy'? Are you hacker news worthy?
  • ausjke 11y ago
    by the way this is the second 7% crash in less than one week.
    • logicallee 11y ago
      >by the way this is the second 7% crash in less than one week. can you imagine how much worse that sentence would read if instead of 7% it read 15%? 20%? etc. The circuit breaker is literally writing your sentence for you. It's working right here, even where we're discussing it.
      • logicallee 11y ago
        This had a downvoter, but I'd like to point out that what I mean is that we don't know if this was a second "7% crash" - it could have been worse, we don't actually know. Because trading was halted at the 7% mark. So in this sense, we don't really know how bad the crash would have been. (Put another way, if the limit had been at 6.75%, then OP would have had to write "by the way this is the second 6.75% crash in less than one week".)
  • epoxyhockey 11y ago
    7% crash in their economy Correction: 7% crash in their stock market.
    • iofj 11y ago
      True: the 7% cash in their economy happened months ago, starting years ago, but really picking up steam last September. It didn't drop 7% though, neither the stock market nor the Chinese economy. Drop in Chinext since peak: (4037-2254)/4037 = 44% Drop in Chinese economy: nobody really knows, because the published numbers are so obviously fake that nobody in their right mind believes them. But, according to the numbers, it fell 15-20%. Example reference: http://www.wsj.com/articles/chinas-exports-imports-fall-again-1444704325 http://www.wsj.com/articles/chinas-exports-imports-fall-agai... One might keep in mind that a serious fall in US production has likewise happened, though one might say it's a smaller drop than China (and Europe) are experiencing.
    • 1stop 11y ago
      Which to clarify further, their stock market is like 15% of their economy. China is largely state owned... It's not the same as us markets crashing.
  • deleted 11y ago
    [deleted]
  • xyzzy4 11y ago
    The economy didn't crash 7%, just the valuation of public companies, which might have been overvalued in the first place. If China's GDP crashed 7%, then the stock market would probably crash 95-99%.
    • aerioux 11y ago
      the overall stock market crashing 95-99% is most definitely an exaggeration, but yes a perceptible fall would happen
      • xyzzy4 11y ago
        Not really. That's how much China's stock market would fall if China's nominal GDP dropped by that much. In the worst of the 2009 crisis, the US GDP only dropped by about 1% if I remember right.
        • aerioux 11y ago
          do you have data to back this up? I would argue an index dropping 99% would mean quite a bit more than a 7% drop- this sounds like the devaluation of the german currency more than a market drop.
• brandon272 11y ago
  From the HN Guidelines: > On-Topic: Anything that good hackers would find interesting. That includes more than hacking and startups. If you had to reduce it to a sentence, the answer might be: anything that gratifies one's intellectual curiosity. Seems worthy, in my opinion.