#china 's #ccp have a *massive* #hidden #debt problem: https://www.zerohedge.com/economics/chin.. The central #government have pushed #localgovernment to take on #loans to pay for things since 2008, which will soon need to be repiad. The #interest on such a #loan will be insanely high, with them having to get another loan to just #repay the #interest .
According to the #imf , a third of the world is about to go into #recession *just keep #inflation under control:* https://www.zerohedge.com/markets/imf-he.. Things are about to get ultra shit, that doesn't even account for #interest on the #pandemic #loans , or #fractionalreserves invisible money.
It's not the #house #flippers that will get #screwed in the increasing #mortage #interest #rates - it will be the first time #home #buyers https://www.zerohedge.com/personal-finan.. Fun times.
Looks like #mortgages are at massive #risk in the #uk of either having insane levels of #interest or not being #issued at all: https://www.zerohedge.com/markets/uk-mor.. What this means is a massive #housing #property #market #crash as people cannot #purchase them outright.
Ouch, the #eu #ecb is running out of #options , despite increasing #interest #rates , they are still at -7.85% #interest after #inflation https://www.zerohedge.com/markets/peter-.. It means putting your #money into #euros means it vanishes as they #print #money to pay off #interest on #debt , which in turn creates lower #demand . Needless to say, #europe is *fucked.* There is no way out of this.
Okay, this is *very* interesting from #tldr #news https://youtube.com/watch?v=pQdea8tPm6k It seems as though the #us #dollar and #eu #euro are fluctuating based on #demand , and the #demand is being artificially created with increased #interest #rates . The #eu has the lowest, and therefore the lowest #demand . I still believe the #us will run out of steam on this one.
Seems like #russia are #narrowly #avoiding #default on #bond #interest giving them a small #market #surge https://www.zerohedge.com/geopolitical/r.. Unless they figure out some #peacedeal between #ukraine , expect that to go back down !
Apparently #turkey is in a lot of trouble, as their #interest #rates continue to increase: https://www.lotuseaters.com/turkish-curr..
The #chinese #property #market giant #evergrande is burning the remainder of its #liquid #assets just to pay off the #interest on their #debt https://www.zerohedge.com/markets/evergr.. I suspect that #china 's #ccp have them a tap on the shoulder to buy more #time whilst they try to address this mess. There is no way out of it. *Watch this space.*
As expected, #china 's #ccp have #paid the #interest for #evergrande to avoid a #default for now: https://www.zerohedge.com/markets/chinas.. It really looks like it is now a #race to see who suffers #economic #collapse first, the #us or #china - whoever goes last gets to blame the first.
Damn, looks like #boris could be looking to stiff me up on my old #student #loans by increasing the amount of time I have to pay them for *and* increasing the #interest rate: https://www.youtube.com/watch?v=sz6-ZRt8.. Apparently these changes very well could be applied retroactively, even more likely given the #uk #government is absolutely broke right now.