Fears Chinese real estate giant Evergrande
will MISS key deadline for $83million
interest payment amid warnings
default on its $300billion
debts could spiral into global
financial chaos
Daily Mail (UK),
by
Ross Ibbetson
Original Article
Posted By: Ribicon,
9/23/2021 1:18:29 PM
Chinese real estate behemoth Evergrande is facing a crucial deadline to pay an $83.5 million interest payment due today amid fears that it could default on its $300 billion debt and plunge the world into financial chaos. Shares in the property firm have lurched wildly this week and trading floors in London and New York have been plagued by jitters over a 'Lehman Brothers-style' meltdown.
Shredded nerves have today ignited blazing sales in a $428 billion section of the Asian debt market, proving that the crisis at Evergrande has spread to other assets.(Snip)Nevertheless, traders in London and New York were filled with more optimism today
Well if it's reported in the media... it must be a lie.
9 people like this.
Interesting observation from Tucker last night. Xi - who has told Evergrande that they're on their own - has more respect for the free market in the real estate industry than Governor Brylcreem, who just signed bills that will allow developers to ignore zoning laws and build multi-story apartment buildings in single-home neighborhoods.
8 people like this.
Reply 3 - Posted by:
stablemoney 9/23/2021 1:32:18 PM (No. 924053)
It's a huge deal. China will print the money to bail them out, but the house of cards is falling to the ground. There is no economic value in building empty apartments that their citizens have no money to pay for. Apartments are priced at 46 times Chinese salaries. That is a house of cards, and the entire Chinese economy is sitting on the top of it. What is propping up the Chinese economy is American capitalism. Secrets stolen from America. American corporations investing in China to make stuff and export to America. The Chinese economy is scrap. But the Chinese are very dangerous. There are a lot of them. They are very smart. And they have figured out that their out is to take over America, not by the military, but by moving here, cyberwar, buying it up, taking over the government by electing Biden and conspiring with the Democrats.
17 people like this.
Reply 4 - Posted by:
LC Chihuahua 9/23/2021 1:34:17 PM (No. 924057)
No worries. Biden will print off a few trillion dollars to bail them out.
4 people like this.
Reply 5 - Posted by:
Quigley 9/23/2021 1:43:37 PM (No. 924064)
With 10% “for the big [poopy diaper] guy”, #4.
But I assume this is a certain amount of fear porn. An $83.5 MILLION payment brings down the world economy? That said, I don’t understand why the world economy is still afloat. And China no doubt has deep fissures.
But schmoe continues his eugenics program and imports slaves- as the dims have always done- so what could go weong?
6 people like this.
Reply 6 - Posted by:
DVC 9/23/2021 1:47:50 PM (No. 924068)
It will be interesting to see how the ChiCom Party thugs react to this. I suspect that "face" saving will be the most important thing....pretending that nothing bad could ever happen under the Commies.
I was planning on discussing this with my financial advisors today. It will be interesting to see what they think.
2 people like this.
Reply 7 - Posted by:
Sanchin 9/23/2021 1:52:35 PM (No. 924072)
So we are supposed to believe that a majority of asset managers have the majority of their portfolios heavily weighted with Evergande ( A Chinese Real Estate Company) and a $300 Billion dollar default will crash global markets? Definition of scapegoat- a person (or thing) who is blamed for the wrongdoings, mistakes, or faults of others, especially for reasons of expediency. Buckle up!
5 people like this.
Reply 8 - Posted by:
Birddog 9/23/2021 2:06:22 PM (No. 924081)
Gee..thousands of empty buildings, overbuilt housing, not enough renters? Send them ALL of our homeless and illegal immigrants, that will solve their problem(and ours). After all, under their system EVERYONE is entitled to a home,. food, support...they REALLY care about the "Little people"
8 people like this.
Reply 9 - Posted by:
Birddog 9/23/2021 2:09:53 PM (No. 924088)
https://www.taiwannews.com.tw/en/news/4279022
1 person likes this.
Reply 10 - Posted by:
GoodDeal 9/23/2021 3:03:27 PM (No. 924127)
No worries, too big to fail. Joe Bailout to the rescue.
1 person likes this.
Reply 11 - Posted by:
DVC 9/23/2021 3:50:13 PM (No. 924161)
In the videos linked by #9, one of these tall buildings has about five floors blown out from the bottom, but settles down still standing as all the others collase sideways.
That standing building without any connection to the foundation will be a lot of fun to deal with. ChiCom's can't even blow up buildings properly.
3 people like this.
Reply 12 - Posted by:
Birddog 9/23/2021 4:11:16 PM (No. 924176)
Gee#11...they can get their new friends the Taliban to show them how to take it down, it'll only cost them a Plane.
2 people like this.
Reply 13 - Posted by:
Ashley Brenton 9/23/2021 4:26:28 PM (No. 924193)
How dumb do you have to be to invest in Chinese stocks?
1 person likes this.
Lethally incompetent Red China, which inflicted the virus on the world, is an international menace in more ways than one.
0 people like this.
Reply 15 - Posted by:
DVC 9/23/2021 9:15:43 PM (No. 924476)
#13, lots of dimwitted US investing professionals have been suckered by high rates of return on crappy ChiCom stocks and bonds.
2 people like this.
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Why worry? The US taxpayer stands ready to offset any losses incurred by Big Bank and Big Investment because if we don't, they'll make less money. I mean, the economy will collapse.