Oh dear, new #chinese #property #market #bonds are #crashing - this time #fantasia and #modernland https://www.zerohedge.com/markets/its-di.. As #zerohedge points out, it looks like #contagion ... At this point I don't think #bejing can even #bailout these #debt ridden #companies ... They are really stuck between a rock and a hard place.
Not that the #world #intellectual #property #organization ( #wipo ) means anything, but maybe #china are right to block #wikimedia from joining: https://wikimediafoundation.org/news/202.. #china 's #ccp blocked it based on the grounds of #taiwan - but #wikipedia in general has been #infested by a #us #leftwing #volunteer group. Unfortunately it is difficult to separate #information from #politics ...
Ouch, so it appears that #china 's #property #market is set to #collapse - which given it represents 1/3 of the entirety of #china 's #gdp (probably more given how #assets are tied into one another), it could see a #economic #crash of #biblical proportions: https://www.zerohedge.com/markets/catast.. Keep an eye on the #shanghai #stock #exchange with me over the next few weeks...
The story of #evergrande and the #chinese #stock #market is not quite over just yet, it appears that there is still a *very* real possibility of #contagion https://www.zerohedge.com/markets/defaul.. This time it's #property #developer #fantasia - this time with #liabilities of close to $13 #billion on the books.
Wow, #germans in #berlin are looking to #seize the #property from #landlords and #nationalise it: https://www.youtube.com/watch?v=NjyyAPJh.. Apparently they might also be looking to do it without adequate #compensation ! Crazy! I guess #communist #ideology never really did die there. A German I used to live with for example touted support for #antifa - even going as far to say that it was okay that they use #violence to achieve their goal... I predict some crazy times ahead.
Looks like #china is not the only #realestate sitting in a #property #market #bubble - just checkout what is going on in the #us https://www.zerohedge.com/markets/burned.. $400k for a #burned out #house that will likely need to be torn down... There is no way on this planet that it's still structurally sound and the #land is not worth that much. It's entirely the sign of a massive #bubble existing - looking forward to the next #economic #collapse !
Another #chinese #property #developer appears to be going under, this time by the name of #sunac https://www.zerohedge.com/markets/we-fac.. This very much looks like the early stage of #contagion ... The #shanghai #stock #exchange crashed again over the #weekend in #reaction - I really suspect this #crypto #ban is to stop people getting their #investments out of the #chinese #economy !
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 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!
#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!