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Last post 22 months ago by RayR. 6 replies replies.
ChinA CCP IS failing duE tO realEstatE bubbLe crash...
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Mr. Jones Offline
#1 Posted: Thu, Aug 11 2022, 9:10 AM EST
Joined: 06-12-2005
Posts: 19,419
8 trillion in bad loans are on the books..

EVERGRANDE REALITY COMPANY is the main culprit...all of China's 401k retirement plans are 70%++ invested in realEstatE...

Problem is...local municipalities get 50%of their income in taxes from realEstatE leases....
Sooooo...
EVERGRANDE would get the people's retirement investment $$$ then pay the local muni's for the leases...then instead of starting to build the bldgs with those $$$...they don't..and use that money to buy more leases...on and on and on...
Sooooo..
Chiree peeps are paying mortgages on bldgs that aren't even built or completed...hence the are paying big money for no tangible asset...

Now, they are rioting and refusing to pay mortgages...hence the banks are failing like dominoes...it is EIGHT TIMES BIGGER IN FAILURE DOLLARS THAN THE U.S. 2008 HOUSING BUBBLE RECESSION FAILURE...
ANDDDD...

THE C.C.P. IS LOSING CONTROL...
NOW they are considering paying these big Ponzi scheme loser companies one trillion and make them actually build the buildings they contracted to do already but didn't...for fear they will loose total control of the country...

If they don't lend that $1 trillion...
All hell will break loose...
RayR Offline
#2 Posted: Thu, Aug 11 2022, 10:15 AM EST
Joined: 07-20-2020
Posts: 8,881
It sounds like they are planning to dig themselves out of the hole they dug by digging deeper with BUILDING BETTER BACK.
clintCigar Offline
#3 Posted: Thu, Aug 11 2022, 12:22 PM EST
Joined: 05-14-2019
Posts: 4,682
One China principle at its finest
clintCigar Offline
#4 Posted: Thu, Aug 11 2022, 12:26 PM EST
Joined: 05-14-2019
Posts: 4,682
https://www.reuters.com/business/snowballing-crisis-evergrande-worlds-most-indebted-developer-2022-07-29
bgz Offline
#5 Posted: Thu, Aug 11 2022, 7:22 PM EST
Joined: 07-29-2014
Posts: 13,023
Well, we know Clint isn't RayRay, he posted a link to a credible news source.
RayR Offline
#6 Posted: Fri, Aug 12 2022, 11:17 AM EST
Joined: 07-20-2020
Posts: 8,881
bgz wrote:
Well, we know Clint isn't RayRay, he posted a link to a credible news source.


It's a good thing Clint posted part of the article for you and not just the URL since you don't follow links.
So you agree now that the lefty Chicoms are evil scammers just like the lefty American Progressives?
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