Looks like #foreign #investors ran out of the #evergrande problem a year before the actual collapse: https://www.zerohedge.com/markets/credit.. If #creditsuisse did correctly predict the collapse, that's impressive. Worth keeping an eye on!
Currently watching the #adv #podcast on the #evergrande situation: https://www.youtube.com/watch?v=5Pq88p89.. They appear to believe that it's *impossible* for the #chinese #economy to collapse, but I really suspect this is #titanic thinking. An economy is not just valued by their own #valuation - but also externally perceived value. They are predicting a secret #bailout by the #ccp - but we'll see. This only buys time. Their #bond #debt is only increasing.
It appears #china 's #ccp has taken over #evergrande 's #bank #accounts and is prioritising the completion of #assets rather than paying #creditors https://www.zerohedge.com/markets/china-.. Here's the thing, as they pawn off #assets to pay #investors - it #devalues the entire #property #market ...
A bunch of #china #economy stories this morning. The #ccp have #banned all #crypto #currency #trade in the wake of this #evergrande #default https://www.zerohedge.com/markets/future.. I suspect this is to stop #investors getting their money out of China as nerves build over a crumbling economy. This has hit the #us and #eu #futures as a result. I for one am watching the #stockexchange 's closely!
Today's #shanghai #stockexchange seems to also be doing well... It's weird, a bunch of #foreign #investors are in the lurch and are set to lose #billions of #dollars - #evergrande is #defaulting on their #debt - many other major companies in #china are on their last legs and their #economy is #rebounding ? Very weird. In any case I expected a #tumble even if only due to #speculation of #contagion - maybe #china 's #ccp is whispering some sweet words into the right ears?
A note on why #china 's #ccp can't #bailout #evergrande without appearing #weak on their commitment to go hard on internal #debt https://carnegieendowment.org/chinafinan.. #bejing is really in a corner with this one.
#evergrande is a #carcrash happening in #slow #motion https://www.zerohedge.com/markets/it-all.. #johnrubio is #predicting an imminent #collapse - from something we cannot recover from. This is why we need more #global #decentralization - even at the cost of #efficiency and #profits ...
@barray on Fri Sep 24 00:26:55 UTC 2021 said: &eThe #evergrande story just keeps going - apparently they are about the #default on $18 #billion in #foreign #debt https://www.zerohedge.com/markets/evergr.. Apparently they will enter into a 30 day grace period and then shit gets real. Apparently the #chinese #government has been warning #locals to #prepare for #evergrande 's collapse.This #evergrande story just keeps blowing up - apparently the #founders of #evergrande #property apparently also setup #evergrandeauto - a company that has processed #billions of #dollars without ever selling a single #car https://www.zerohedge.com/markets/evergr.. They had done a bunch of #investor rounds as a way of generating #income and #inflating #stocks - very weird.
This #evergrande story just keeps blowing up - apparently the #founders of #evergrande #property apparently also setup #evergrandeauto - a company that has processed #billions of #dollars without ever selling a single #car https://www.zerohedge.com/markets/evergr.. They had done a bunch of #investor rounds as a way of generating #income and #inflating #stocks - very weird.
@barray on Wed Sep 22 10:21:11 UTC 2021 said: &eWatch the #shanghai #stockexchange again today, wasn't as good as yesterday but still closed out on a high... It's looking more like they have somehow managed to push back the #evergrande #doomsday event for a while longer. I have no idea which #foreign #investors are still getting tricked into the #chinese #stock #market though... It's very clearly in trouble and everybody knows it.Closely watching the #shanghai #stockexchange - it's really not clear if #china will pull through this or not. They had a small #rebound today, but their #debt #crisis is not getting any better any time soon. There are still *massive* #debt problems that need to be addressed, almost the entire thing is rotten and I suspect they will use the healthy #companies good money to #bailout the shit companies, making a total #economic #collapse even worse. 2023 will be a shit show at this rate...
Talk about being 10 years too early! https://www.institutionalinvestor.com/ar.. It appears #andrewleft called out #china 's #evergrande way before anybody else, and get got #banned from #trading in #hongkong for it! Apparently this is what got him banned: https://www.slideshare.net/dingli8888/ci.. More here: https://news.ycombinator.com/item?id=286..
@barray on Mon Sep 20 19:00:21 UTC 2021 said: &e#china 's #economic #crash may have started: https://www.zerohedge.com/markets/asias-.. #evergrande , #sinicholdings , #pingan and others are all crasing - it looks like that despite holding zero stocks in Evergrande they are all exposed...Apparently 222% of #china 's #gdp #debt is from the #private non- #finacial sector... https://www.economist.com/leaders/2021/0.. No wonder #xijinping #ryan is taking over #companies - they are absolutely fucked. Looks like the #huarong #bank are also in the shit for a similar amount, making up 4% of the total #debt and #economy ... I suspect companies like #alibaba will be made to buy out these failing businesses...
@barray on Mon Sep 20 17:48:58 UTC 2021 said: &eThe problem with #china 's #evergrande #property #company is even worse that I thought: https://www.zerohedge.com/markets/goldma.. #chinese #debt is at 335% of #gdp - which will surely be worse once #covid is accounted for and #production continues to be stunted by the global #chipshortage ... Evergrande is also 2% of their entire #economy and a major internal #investment opportunity, as well as offering over 100k people #employment ! This is very big.#china is in a lot of trouble over this #evergrande #property #investment https://www.reuters.com/world/china/chin.. There is no good way out of this for the #chinese - no amount of bullshitting will cover $305 billion in #liabilities - a mix between local Chinese investment and #foreign ... Perhaps they will #nationalise , but #investors will get screwed and foreign investors will get cold feet. If they buy the #debt they bleed their #economy anyway!
@barray on Mon Sep 20 17:48:58 UTC 2021 said: &eAnd the #chinese #company #evergrande could have massive implications for the #crypto #market too, with #tether possibly left holding the bag: https://www.msn.com/en-us/money/companie.. The #cryptocurreny market crashing would also have a major impact on #western markets too - remember that many #banks and #diversified their #assets to include #coins ... Add #covid #economic #recovery ... This is looking like a perfect storm.#china is in a lot of trouble over this #evergrande #property #investment https://www.reuters.com/world/china/chin.. There is no good way out of this for the #chinese - no amount of bullshitting will cover $305 billion in #liabilities - a mix between local Chinese investment and #foreign ... Perhaps they will #nationalise , but #investors will get screwed and foreign investors will get cold feet. If they buy the #debt they bleed their #economy anyway!
#china is in a lot of trouble over this #evergrande #property #investment https://www.reuters.com/world/china/chin.. There is no good way out of this for the #chinese - no amount of bullshitting will cover $305 billion in #liabilities - a mix between local Chinese investment and #foreign ... Perhaps they will #nationalise , but #investors will get screwed and foreign investors will get cold feet. If they buy the #debt they bleed their #economy anyway!