Zero Hedge: "Catastrophic" Property Sales Mean China's Worst Case Scenario Is Now In Play
No matter how the Evergrande drama plays out - whether it culminates with an uncontrolled, chaotic default and/or distressed asset sale liquidation, a controlled restructuring where bondholders get some compensation, or with Beijing blinking and bailing out the core pillar of China's housing market - remember that Evergrande is just a symptom of the trends that have whipsawed China's property market in the past year, which has seen significant contraction as a result of Beijing policies seeking to tighten financial conditions as part of Xi's new "common prosperity" drive which among other things, seeks to make housing much more affordable to everyone, not just the richest.
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WNU Editor: Everyone is now expecting the worst case scenario .... Evergrande creditors fear imminent default as concerns shake sector (FOX News/Reuters).
3 comments:
This is why it makes sense to have a strategic crowd control Weapon like Civic 19.
It is not, of course, an economic good news, but if it the price to make China down, I want to pay it.
We all knew about China's housing bubble
It was meant to crash 2020 but they got a nice little lift thanks to covid
Miraculously
2019 was full on panic in China losing the trade war against trump
In late summer 2019 it was so bad that Chinese I know expressed the desire to remove Xi. That's beyond illegal thought in China. It was that bad.
But then covid came along.
And both, the Chinese criminals and our criminals colluded in this, amplified the fear and worked together to lock us down
Remember. Locking down an entire city was never done before. That was China's idea and example and it was a financial and civil rights weapon meant to take our wealth, which they - the Chinese criminals and our criminals - then did. Together.
They work together at that level.
Corrupt treasonous swines on our side locked us down, took our wealth, and worse
And you still haven't figured it out, some of you. Thinking Biden and Democrats are legitimate. Lol
While they have their boot on your neck you wave their flag or campaign posters
Of course they don't respect you and think of you as cattle.
Because you clearly are.
You accepted it all.
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