Comments by "Patrick T" (@patrickt49) on "Chinese Youth Borrow Wildly to Trade Stocks, Get Trapped, Cry, While Banks Tremble" video.

  1. "The character of the people has been traditionally such that to thrust money into anybody's hands as an investment was always a gamble. Hence a Chinese with money might as well gamble it over the gaming table as any other way, and have at least the thrill of exciting play instead of the long gnawing anxiety following the equal, if not greater, risk of investing it." - "Ways that are dark: The Truth About China" by Ralph Townsend (Former US Consul who lived in 1930s China) Stock market at this point is just akin to gambling in a casino. No logic as usual.
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  2. A more "intelligent" person would have consulted with a licensed financial advisor. But there's no shortage of dumb people in China.
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  3. "They are famed for their prudence in money matters, yet their love of gambling amounts to such an insane passion that every year millions are ruined to become beggars or suicides." "Ways that are dark: The Truth About China" by Ralph Townsend (Former US Consul who lived in 1930s China)
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