Pakistani investors riot over falling share prices

[Munger]

Pakistani investors and traders ransacked stock exchanges in Karachi, Lahore and Islamabad today, reacting furiously to a share-price rout that has decimated the life savings of many.

Police and paramilitary officers were drafted in to protect the Karachi Stock Exchange after a thousand-strong mob stoned the building, smashed windows and chanted anti-government slogans. In the eastern city of Lahore, investors burnt tyres and blockaded the local bourse.

The violence followed a 35 per cent fall in the value of the benchmark Karachi Index in the past three months on the back of concerns over the stability of Pakistan's fragile coalition government, rocketing inflation levels, and the weakness of the rupee.

Don't they have a central bank willing to prop up stock prices with new money?

http://business.timesonline.co.uk/to...cle4351333.ece

[Jim Nickerson]

Re: Pakistani investors riot over falling share prices

Don't they have a central bank willing to prop up stock prices with new money?

http://business.timesonline.co.uk/to...cle4351333.ece

Pakistan is down 35.06%
Shanghai/China down 50%
India down 37%
Greece down 37%
Ireland down 53%
Portugal down 38.75%
Sweden down 35.86%
Turkey down 35.66%

What is the problem in these other countries such that there is no storming of the market?

[metalman]

Re: Pakistani investors riot over falling share prices

Pakistan is down 35.06%
Shanghai/China down 50%
India down 37%
Greece down 37%
Ireland down 53%
Portugal down 38.75%
Sweden down 35.86%
Turkey down 35.66%

What is the problem in these other countries such that there is no storming of the market?

there, rioting is a way of life.

if the usa had millions of unemployed young people with nothing better to do than express their anger and frustration this way, we'd have riots, too.

and we will...

Few jobs for teens
POOR ECONOMY FORCING ADULTS TO TAKE SUMMER WORK THAT TRADITIONALLY WENT TO YOUNG PEOPLE

Another Spin: Unemployment affects teens, too
The news from our government is bad; unemployment is up and teenage unemployment is up even higher. While adult joblessness is 4.9 nationwide, it’s a whopping 18.7 percent for teens throughout the nation.

USA TODAY Full-Page Ad Highlights Unemployment Crisis Among Minority Teens
African-American Teen Unemployment at 32.3 Percent Is Six Times the National Average; Teen Summer Job Climate Worst Since World War II

and so on.

[jtabeb]

Re: Pakistani investors riot over falling share prices

there, rioting is a way of life.

if the usa had millions of unemployed young people with nothing better to do than express their anger and frustration this way, we'd have riots, too.

and we will...

Few jobs for teens
POOR ECONOMY FORCING ADULTS TO TAKE SUMMER WORK THAT TRADITIONALLY WENT TO YOUNG PEOPLE

Another Spin: Unemployment affects teens, too
The news from our government is bad; unemployment is up and teenage unemployment is up even higher. While adult joblessness is 4.9 nationwide, it’s a whopping 18.7 percent for teens throughout the nation.

USA TODAY Full-Page Ad Highlights Unemployment Crisis Among Minority Teens
African-American Teen Unemployment at 32.3 Percent Is Six Times the National Average; Teen Summer Job Climate Worst Since World War II

and so on.

Yeah, ever live in the middle east? Gee, hard to figure-out why it is such a fertile terrorist breeding ground, what with 60% unemployment an all. Duh?

[BlackVoid]

Re: Pakistani investors riot over falling share prices

Its largely a result of population dynamics. In the last few decades the Middle East had a population explosion. This results in social instability in itself. Add Peak Oil, a credit crisis and resulting economic depression and what you get is a Molotov cocktail.

[jtabeb]

Re: Pakistani investors riot over falling share prices

Its largely a result of population dynamics.

Dude, go study geo-politics in the middle-east and also economic policy then we'll talk, okay?

[Guest]

Re: Pakistani investors riot over falling share prices

Blackvoid - don't be offended by Jtabeb's form of address. He's a fighter plane pilot. These guys are notorious for being hot-tempered and very alpha-type personalities. Anyway Jtabeb seems a smart guy and posts lots of fun stuff, so we can overlook the occasional heavily patronizing overtone?

Jtabeb - I've found Blackvoid contributes some very carefully considered comments here. He doesn't post often, but to my recollection he has rarely posted anything silly, so maybe your usual "exhuberant spirit" is replying a little too harshly? Always much appreciate all of your commentary otherwise guy, so please don't get pissed off with me for pointing this out.

[c1ue]

Re: Pakistani investors riot over falling share prices

Its largely a result of population dynamics. In the last few decades the Middle East had a population explosion. This results in social instability in itself. Add Peak Oil, a credit crisis and resulting economic depression and what you get is a Molotov cocktail.

I wonder if the Middle East population explosion can be traced to the 70's oil embargo.

Before the US went off the gold standard, I had always thought that the middle east was doing ok, but nothing great.

Perhaps the whole dollar devaluation deal is the Middle East's equivalent of WW I & II for the US: 3 decades of prosperity plus a baby boom. That'd put them in the '60s now.