Comments by "Louis Giokas" (@louisgiokas2206) on "Chinese Are Crying, Where Has All My Money Gone?" video.

What's all this talk about "class" in China? I thought Marxism was supposed to bring about the "classless" society. Of course, the reality is that Marxism-Leninism is just an ideological veneer for oligarch. which morphs into aristocracy, by the way. Just look at all the talk about second generation and third generation reds and princelings. Look at Cuba. Who took over when Fidel died? In Russia, in the nomenklatura and siloviki we also see positions going to the children of the current generation.
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Any investment, outside of simple savings, may result in loss of principal. Period. This disclaimer is on all equity products sold in the US. One invests in such "products" (securities) for a higher return. Higher return is only possible by taking on risk. Outside of US Government Treasuries, even bonds carry risk. That is why they are rated, so that people have an understanding of the risk they are taking on when seeking a higher return. This brings out the lack of sophistication of the Chinese investor. Of course, China being a communist country it is understandable. This is what happened to Russia after the collapse of the Soviet Union. The workers were given shares in the companies they worked at. They had no idea of what shares were. So, "unscrupulous" people swooped in and offered them what turned out to be ridiculously low prices for their shares. To the uneducated "worker" this was real money vs. this stock thing, so they took it. Of course, those "unscrupulous" people were generally the ones who were better educated and understood asset values.
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