https://news.yahoo.com/nothing-left-live-evergrande-meeting-174442622.html
The situation on the ground contradicts the reassuring headlines in the US. Evergrande is about to topple and start a chain reaction around the world. Blackrock will be significantly affected.
Before I ever read a Q post, I had concluded it was Trump's protectionist trade policy toward China that triggered the bribed/controlled Democrats and MSM to spaz out and desperately try to impeach him. I now see there were other reasons, but the China policy is still a main one. Evergrande is proof.
Now those policies -- along with anemic supply chains and shutting down illegal income streams from human trafficking and other criminal enterprises -- have resulted in cashflow problems for China. Their aggressive hoarding of real estate and loans has left them asset heavy and cash poor. This is what happened to Lehman Brothers in 2008. If you can imagine cash as the oil in an engine, China's engine is dry and the pistons are locking up.
This, I theorize, was one of the purposes behind the ridiculous $3.5 trillion infrastructure bill. You have to think of infrastructure bills and "stimulus" bills these days as Democrat slush funds. The money is never accounted after it changes hands. As Trump called out before he left office, the covid stimulus sent billions overseas to China and Pakistan. It's likely the infrastructure bill was going to give China the cashflow to get their engine unlocked.
Then consider how an authoritarian regime relies on state corporatism for its economy. In this economic model, insolvency of your largest corporations can leave the state with cashflow problems as well. It'll be interesting to see how woke our corporations and sports will be at after that. Also, when a despotic state has little cash, they eventually will have trouble paying their military. When the military eventually does not get paid, they coup your despotic ass.
I have an unhealthy idea that evergrande was planned to fail (or plan b) to start the global crash on purpose as soon as their tyranny covid passport push started spluttering. In effect this will cover up their covid misdeeds around the world and while the world is distracted, they can start their digital curency and cashless society while destroying our present oil/gas economy.
If what I speculate is correct then gov of the world have an excuse to use their security forces to enforce their 'great reset' under cover of 'see, told ya, capitalism is bad, oil and gas is bad'.
Let's hope I'm wrong.
P.s love your idea that the dems 3.5 pork bill could be a way to keep China going
What is happening to the shipping industry right now is like a reverse blockade where nothing is moving into the U.S., and if all, or a majority, of the ships are carrying Chinese goods, the ramifications are massive in terms of exchange of goods/money. I would not be surprised if the total value of the blocked goods is a trillion dollars. The plot thickens...
Sounds a lot like what happened in Mr Robot with ecoin becoming a stronger value than the usd. Lots of stuff in that show are eerily close to reality when you've started paying attention.