People don't understand what this all means because they don't understand how crucial this over development and speculation was key to their currency manipulation.
They were building cities the size of Indianapolis once a month... giant ghost towns of cheaply made dangerous buildings that nobody lives in just so they could cook the books on growth, housing, labor, everything...
The big trick to the china play is artificially inflating all sectors while artificially deflating your currency making your country ripe for foreign investments, especially in the manufacturing sectors.
This all started to pay off for them years ago when all the big pharma pill factories moved in for the cheap labor... many industries suffered because most of the labor pool shifted to the pharmaceutical industry in areas of the country that were usually more related to fireworks and cheap novelty manufacturing.
The labor had already been trained on handling of raw chemicals and the proper methods of screening and mixing compositions... it was perfect for big pharma to swoop in and start making stupid money on the backs of the poorly paid laborers.
Anyway the collapse of one of the legs of the tripod of the china currency manipulation is going to crush the whole system... it's all exposed now and the cities they built just a few short years ago are already starting to fall apart due to nobody living there, no maintenance at all on cheap and poorly made hollow walled stage props cities.
People were sounding the alarm on this years and years ago when it all started, but nobody cared because nobody saw the big picture.
I disagree. Plenty of people saw the big picture. People have been warning that China is a paper tiger but instead of challenging the tiger we kept letting it grow until it became a paper forest that we all reside in.
Lots of people this century, pretty much since 2000, have been discussing heavily that all of China's magical rapid growth was bullshit and exists only on paper.
What did our leaders do? Play into the China illusion because they saw a great opportunity to make unfathomable riches. They weren't backed by anything, but so long as the illusion held the riches would continue.
And now? The whole stupid world's governments bent to China and agreed that it will be the great mother and leader. Only that shitty country is already collapsing under its own weight and will be hobbled within 20 years by population alone. Their entire economy is propped up on its lies. Problem with lies is, they can't hold, especially not up against reality.
Fucking awful that the leaders decided to follow China, of all countries, into 21st Century economics and politics.
But no, plenty of people saw this coming and have been talking about it for decades. But since the truth upsets their lies, the truth wasn't given a platform and anyone who spoke it was labeled a xenophobe/racist/conspiracy theorist.
Good. I hope this and everything else connected to shitty stupid asshole China collapses and they die of fucking plague. How fucking gullible are Western leaders?
i 100% agree with you, i'm simply saying that only those of us who were paying attention saw it and spoke up about it...
3% of the world noticed it and sounded the alarm, 1% kept us all quiet and forged ahead while the other 96% gleefully plodded and trudged along consuming mass produced chinese crap that was built on stolen IP.
the writing was on the wall for anyone willing to listen... but most people were too distracted with their pumpkin spiced anal lube and singing contests that they didn't pay attention...
this was all avoidable but most people are profoundly retarded and complacent.
I am stupid on this specific topic, but I always wondered how China was experiencing such growth when the government manipulated the currency like it did.
Their currency meant nothing but what someone said it meant that day. Complete bullshit air.
because it worked just like a bernie madoff scheme...
the people who got their investments in early just cross their fingers hoping to get their money out by cashing on the next rubes to take the bait...
you invest a ton of US dollars into china building projects, that money buys you a metric fuckton of capitol in chinese currency because their currency was artificially devalued...
this prompted more and more investments from others investing in the sector, and your hope was that at the end of the day you could sell off your investments at the peak and make a bunch of money on the backend.
this has been the grift all along, fake bullshit being sold to speculators who in turn hyped and bolstered said fake bullshit enough that more people would invest.
bernie madoff got famous because a bunch of famous people invested and told all their friends.
china is pulling the same scam on an international currency and world economy scale.
Yes. People called me xenophobic for not buying Chinese shit... "Everything is made there".
My Dad used to say The only power we have is where we spend our $$.
I think the supply chain collapse and the new era of "nothing to shop for" that's pretty much upon us, will hurt these people more than learning about the satanic corruption that's everywhere.
They're not gullible. They're opportunists. They weren't looking out for our country but their own bank accounts. Hopefully they'll never get to enjoy what's in those accounts.
What’s scary is how far the tyranny has got in China.
They even inflate numbers on movie viewings by buying literal tickets to pump the numbers. They treat EVERYTHING as a Ponzi scheme. Even stealing their neighbors dog to eat.
They were not gullible. They knew. China is deep state...and worked for a time on behalf of the cabal but would have shafted them in the end too. I can remember UK government going on about following bchina and the silk road. All leaders are in place because they are cabal or blackmailed into obeying or they would be replaced. China says they were the first race and are superior to all others and their plan was to exterminate ball other races and have the planet to themselves. Read the speeches of their leaders....they didn't hide it
Consider that the USSR had communist plants in our governments decades before China became the major communist power and started the exact same tactic in the 90s, likely recruiting the lost sleepers.
Our leaders aren't gullible, they are and always have been commie cabalist plants. You only need to control 15% to control the herd, and now it's the chimps and the ladders, people fear China because they were taught to and not for any reason.
China is weaker than the USSR. They don't even guard their own shipping FFS, they're pathetic.
Aye, and here's the rub: their commie agents in media, Hollywood, gov't all pushed the "powerful dragon" narrative for 20 years in service of the illusion.
But China's a fucking joke. An unimaginative, physically weak people that would be squashed like bugs in open combat. It will be a polluted smouldering lump of garbage in 20 years after the population crash and subsequent political and economic chaos.
Then it's 20th Century, Part II as the slowly pull themselves back together and start rebuilding to try another takeover in the 22nd century.
Lie flat, everyone. Let this ridiculous machine destroy itself. Think in terms of decades. In 10 years we'll all be laughing about how we once thought China was going to take over the world.
https://youtu.be/UPwtUTrwKRI "They were building cities the size of Indianapolis once a month... giant ghost towns of cheaply made dangerous buildings that nobody lives in just so they could cook the books on growth, housing, labor, everything..."
The scale of it is truly massive the fallout from this will be huge!
people have no idea how many ghost cities they built... it's insane.
the reason they were able to build so much so fast was to build paper thin walls with no insulation, no finishing, tiles falling off of walls less than a year after they were placed because the buildings are racking so badly...
these buildings are death traps, but china doesn't care... they aren't built to house people, they are built to manipulate the world economy
you're putting people to work, even if they aren't being paid much and aren't really doing anything real it's still a job you can put on paper.
you're showing growth of giant mega cities all over the country, giving the false impression that this secretive authoritarian country is foreign ahead to the next century and keep in mind they weren't really going after the US with these projects, it was more of a dog and pony show to bolster their belt and road imitative showing chinas willingness to undertake massive infrastructure projects
building housing shows "strength" in their government to lead and provide for it's citizens, even if it's all faker than pornstar titties it's still something they can show their people and the world that their way works and they are able to provide for their people
it worked as a massive real estate hedge for worldwide investments... money came pouring in because the speculation was that you could buy there buildings on the cheap chinese currency then bank when the currency took off. so it allowed the CCP to shovel up cash, much more than they were putting out. money came in from all over the world into this fake nonsense... like a giant ponzi scheme.
it allowed china to go develop undeveloped parts of the country, forcing farmers off their land and into these cities... to bring more people into their control and influence. to be dependent on the CCP.
lastly (there are others) it gave manufacturing more room to spread out, by telling these big multinational companies "no problem, come invest here, build your factories here, we've got massive cites that we are going to fill with a workforce ready to go.
bottom line is what the world thinks goes on with china and what actually does are two very different things, the CCP makes sure of that. they will lie and cheat and steal all they want, there is no international body that has the balls to stop them... trump was the only one with the balls to do so and look what they did in response... they unleased a bioweapon to help get him out of office.
china is an undeniable threat, one that we allowed to happen, the ghost cities were just one piece to this puzzle but a very important one... it's like someone is standing on a rowboat in the middle of the ocean and started shooting a shotgun into the floor...
better get billy mays with some fix a flat patches cause this is some serious shit for them, they are now on a sinking ship and they are going to make some desperate moves to change the narrative...
Adding a bullet point, China has huge domestic demand for real estate investment properties based on price appreciation rather than rental income and the idea that physical real estate will have long term intrinsic value. I think a lot of the units have been sold to middle class Chinese, hence it had to exist but nobody planned to live there
i'm just a stoner telling you shit i've picked up dorking out on the china situation., i'm just trying to pass on what i know in an ELI5 way that a stoner like me can relate to...
Its how they lured in more and more investors, ponzi scheme. People would not invest in something they couldn't see. Build entire cities, investors will come.
An urban explorer group "The Proper People" visited China in 2019 and have a dozen or so videos of YouTube visiting the abandoned and never finished buildings. I remember in some seeing cracks in the walls big enough to see right into the next room.
exactly... the buildings are fucking dogshit. the few that actually did get constructed properly, were either never finished or finished so cheaply/poorly that they all fell apart in a few years.
just like in other ventures if the shop next to yours is selling the same type of product you are, for less money... it doesn't matter if the quality is shit... stupid people only look at the price.
so it wasn't profitable to build things right when there are 12 other developers offering you "the same thing" for less money.
just like in industries where certain laws can be bent if the customers want that... the companies that do follow the rules can't compete because they aren't willing to risk breaking the law to bring in something that is beyond regulation limits.
the fireworks industry is a prime example of this.
take basic firecrackers for example (same thing applies to most categories of consumer product) the regulations on firecrackers in the US is silly... those "m-80's" you see most stores carry... nothing more than a regular sized 50 mcg of flash cracker inside a larger tube... however there are some people who import real m-80's with 4, 5, 6 full grams of flash... and those guys get all the sales if they manage to sneak them into the country.
the people following the law, following the regs... those are the companies that get screwed with because they are playing the compliance game. so the BATFE and CPSC target them for inspections and product sampling, even though they know the product is compliant (or at least trying to be) and they seemingly do nothing to stop the flow of illegal and dangerous items because those companies aren't registered with the self policing agencies like the APA.
but china... those fuckers in china will make you anything you ask them to, just pay them the money and they'll ship it... the rest is on your neck if you get caught.
big companies are too scared to roll those dice, small guys can afford to take the risk they have a lot less to lose.
i wouldn't be shocked at all to learn that the same thing was happening in the construction trades over there... you need something built that isn't even close to "code"... no fucking problem... someone is willing to do whatever you are willing to pay them to do... less quality means less money means more profit for someone.
as far as I know China has been at this for over 20 years now. Why would it collapse now? what has changed that would make it serious now? I mean I've heard of empty cities in Chine in early 2000s for the first time. in 2010 i've heard people been slowly moving in to these empty cities.
Evergrande was at the center of this ponzi scheme, they cant pay their bonds that are due, the investors see they are broke and have quit investing. No money to feed the scheme and it goes belly up.
because now this latest round of defaults has caused the whole armor plated monster to roll over and expose it's soft white underbelly...
people all over the world lost BILLIONS on this one conglomerated deal, and all these other real estate schemes are suffering from the same cancer...
shit buildings sold on speculation of growth that isn't ever going to happen... nobody is going to move into these cities, half of them are so fucked and falling apart that the CCP is ordering entire cites worth of dilapidated high rises to be blown the fuck up.
IMO these are both part of the broader war against the cabal. collapsing china's economy will also decimate the rest of the world and give a great opportunity for gold to destroy the fed
Lol I don’t think any of us here are, but I use this with normies. “You know, having our products made in countries with no climate emission standards and shipping their goods here by gas guzzling toxic ships seems like a terrible idea”.
Yep, favorite point to use, even though it may be out of date now, was that it takes roughly ten years for EVs to become more CO2 efficient than ICEs. What's the expected life span of the batteries in EVs? They claim about ten years.
Just drove by a Costco absolutely CRAZY it was even busier than a normal Saturday, I would say the news narrative about shortages is kicking in big time, the lines to get gas there were a block long people will go nuts just watch.
He didn't even touch on the follow-on effects, which will be even MORE massive.
An incredible proportion of the Chinese economy and employment has been to take this once-unstoppable flows of capital and build, build, build WAY past the point when the real demand was exhausted, but the financial demand for investment properties remained fevered due to lack of alternatives. This resulted in beyond-insane overbuild - this video mentioned 90 million unoccupied residential units!
So no only will the highly-leveraged investments of most (unconnected, and thus unable to get their assets out of China) Chinese be largely wiped out, but the unemployment is going to be MASSIVE. The CCP has ZERO chance of surviving this.
I would have initially presumed that Calpers and Calstrs would have eschewed chasing returns in the sketchy, unaudited Chinese market, but it turns out my presumption would have been wrong.
Hell, Calpers even turned over management of their whole damn fund to a Chinese national. 😲
They can get wrecked.
For a large fund such as CalPERS, which has more than $400 billion under its management, the choice to invest in Chinese companies is directly related to its managers, Xie said. Meng Yu, the fund’s former chief investment officer, is of Chinese descent and once said his “roots are in China.” Prior to joining CalPERS in January 2019, Meng served as deputy chief investment officer at China’s State Administration of Foreign Exchange, which manages more than $3 trillion in foreign exchange reserves.
I remember it being about a 6 months for the actual collapse to hit the US market, right before the 2008 elections, and at my work we kept talking about how the economy was a zombie until it would hit us in Q2 of 2009. Then it hit, and the actual effects of downsizing/layoffs/no jobs hit in Fall 2009.
Honestly 08s impact felt like it was overnight. At least when it came to people panicking. I was too young to really be invested in the stock market at the time, but that felt like we were going through another 9/11. That was a traumatic time. As a new Yorker I felt like 08 honestly was almost as bad as 9/11.
Ahh, nothing a nice tidy lil' WW3 couldn't distract the sheeples attention away from. Or an in-house prefab lil' CW2 right here in the good ol' land of chinese milk n' honey!
Or BOTH. I can't wait to see what happens next! They cannot keep this up much longer.
Our own country will go through just as large of a real estate bubble that's been brewing for 60 years. People don't seem to understand millenials aren't having children or large families, and the U.S is one of the least densely populated nations on earth. The only reason we are seeing such a crunch is because we've hardly built any new real estate in the last 10 years and millenials and gen z are finally getting 2% interest loans and are stupid enough to buy into a 30 year mortgage, and just like having amnesia, completely forgetting what happened in 2008.
Don't get me wrong, many areas, despite being over inflated, still offer fair prices on housing, but everywhere else is a total bubble and it WILL permanently pop in the next 10 years as it did in Japan, which oddly enough use to be the hottest real estate market in the 80s and 90s due to having so little space.
What do you see the repercussions being in the US real estate market at the macro and micro level? I’m in a hot area at the moment, but comparative to other areas of the USA prices are still attractive. People are flooding into my area because of the low taxes and prices. Sadly mostly are blue-haired liberals moving into my specific area although my state (NC) is mostly red. I’m currently shopping for a second home (I rent the other home) and I’m considering waiting 6-12 months to see if things cool down in my area. Right now it’s a sellers market with nearly all single family homes selling for over asking with multiple offers.
Curious on everyone’s thoughts on the real-estate held in the US, by China. Personally, I do believe there will be a fire sale on those properties and investments. I also believe that our stock market is also going to be negatively affected by the sale of China’s investments in the maker’s. Thought’s??
Curious as well. I’m considering if I should buy a second home or land. Or maybe wait another 6-12 months and see what happens. The real estate market I’m in is pretty hot right now; homes selling over asking with multiple offers. It’s a sellers wet dream right now in my area.
I guess depending on where you are. East coast getting a lot of corporations buying houses up to rent. Almost like what the government wants to do with the new reset. My concern is When the housing market, or should I say building market in Chine goes to shit these investors holding interest in US real-estate and their interest in the stock market is going to be affected. They will have to get their money from someplace!
We're discussing china's RE fiasco being the first domino but people have to see that the US/world also invested heavily in these papers? It won't be just china.
People don't understand what this all means because they don't understand how crucial this over development and speculation was key to their currency manipulation.
They were building cities the size of Indianapolis once a month... giant ghost towns of cheaply made dangerous buildings that nobody lives in just so they could cook the books on growth, housing, labor, everything...
The big trick to the china play is artificially inflating all sectors while artificially deflating your currency making your country ripe for foreign investments, especially in the manufacturing sectors.
This all started to pay off for them years ago when all the big pharma pill factories moved in for the cheap labor... many industries suffered because most of the labor pool shifted to the pharmaceutical industry in areas of the country that were usually more related to fireworks and cheap novelty manufacturing.
The labor had already been trained on handling of raw chemicals and the proper methods of screening and mixing compositions... it was perfect for big pharma to swoop in and start making stupid money on the backs of the poorly paid laborers.
Anyway the collapse of one of the legs of the tripod of the china currency manipulation is going to crush the whole system... it's all exposed now and the cities they built just a few short years ago are already starting to fall apart due to nobody living there, no maintenance at all on cheap and poorly made hollow walled stage props cities.
People were sounding the alarm on this years and years ago when it all started, but nobody cared because nobody saw the big picture.
I disagree. Plenty of people saw the big picture. People have been warning that China is a paper tiger but instead of challenging the tiger we kept letting it grow until it became a paper forest that we all reside in.
Lots of people this century, pretty much since 2000, have been discussing heavily that all of China's magical rapid growth was bullshit and exists only on paper.
What did our leaders do? Play into the China illusion because they saw a great opportunity to make unfathomable riches. They weren't backed by anything, but so long as the illusion held the riches would continue.
And now? The whole stupid world's governments bent to China and agreed that it will be the great mother and leader. Only that shitty country is already collapsing under its own weight and will be hobbled within 20 years by population alone. Their entire economy is propped up on its lies. Problem with lies is, they can't hold, especially not up against reality.
Fucking awful that the leaders decided to follow China, of all countries, into 21st Century economics and politics.
But no, plenty of people saw this coming and have been talking about it for decades. But since the truth upsets their lies, the truth wasn't given a platform and anyone who spoke it was labeled a xenophobe/racist/conspiracy theorist.
Good. I hope this and everything else connected to shitty stupid asshole China collapses and they die of fucking plague. How fucking gullible are Western leaders?
i 100% agree with you, i'm simply saying that only those of us who were paying attention saw it and spoke up about it...
3% of the world noticed it and sounded the alarm, 1% kept us all quiet and forged ahead while the other 96% gleefully plodded and trudged along consuming mass produced chinese crap that was built on stolen IP.
the writing was on the wall for anyone willing to listen... but most people were too distracted with their pumpkin spiced anal lube and singing contests that they didn't pay attention...
this was all avoidable but most people are profoundly retarded and complacent.
You. I like you.
lol... right on... i like you too patriot.
this website is the fucking best eh?
😁❤🇺🇸🐸👌
Name checks out 😂
I am stupid on this specific topic, but I always wondered how China was experiencing such growth when the government manipulated the currency like it did.
Their currency meant nothing but what someone said it meant that day. Complete bullshit air.
Why would anyone fall for that kind of shit?
because it worked just like a bernie madoff scheme...
the people who got their investments in early just cross their fingers hoping to get their money out by cashing on the next rubes to take the bait...
you invest a ton of US dollars into china building projects, that money buys you a metric fuckton of capitol in chinese currency because their currency was artificially devalued...
this prompted more and more investments from others investing in the sector, and your hope was that at the end of the day you could sell off your investments at the peak and make a bunch of money on the backend.
this has been the grift all along, fake bullshit being sold to speculators who in turn hyped and bolstered said fake bullshit enough that more people would invest.
bernie madoff got famous because a bunch of famous people invested and told all their friends.
china is pulling the same scam on an international currency and world economy scale.
and it's worked great... until now.
Retarded and complacent. 👍👍
Yes. People called me xenophobic for not buying Chinese shit... "Everything is made there".
My Dad used to say The only power we have is where we spend our $$.
I think the supply chain collapse and the new era of "nothing to shop for" that's pretty much upon us, will hurt these people more than learning about the satanic corruption that's everywhere.
They're not gullible. They're opportunists. They weren't looking out for our country but their own bank accounts. Hopefully they'll never get to enjoy what's in those accounts.
Elites are Gona elite.
What’s scary is how far the tyranny has got in China.
They even inflate numbers on movie viewings by buying literal tickets to pump the numbers. They treat EVERYTHING as a Ponzi scheme. Even stealing their neighbors dog to eat.
They were not gullible. They knew. China is deep state...and worked for a time on behalf of the cabal but would have shafted them in the end too. I can remember UK government going on about following bchina and the silk road. All leaders are in place because they are cabal or blackmailed into obeying or they would be replaced. China says they were the first race and are superior to all others and their plan was to exterminate ball other races and have the planet to themselves. Read the speeches of their leaders....they didn't hide it
This. ^
They are the opposite of gullible- gullible needs innocence and that they have none.
Consider that the USSR had communist plants in our governments decades before China became the major communist power and started the exact same tactic in the 90s, likely recruiting the lost sleepers.
Our leaders aren't gullible, they are and always have been commie cabalist plants. You only need to control 15% to control the herd, and now it's the chimps and the ladders, people fear China because they were taught to and not for any reason.
China is weaker than the USSR. They don't even guard their own shipping FFS, they're pathetic.
Aye, and here's the rub: their commie agents in media, Hollywood, gov't all pushed the "powerful dragon" narrative for 20 years in service of the illusion.
But China's a fucking joke. An unimaginative, physically weak people that would be squashed like bugs in open combat. It will be a polluted smouldering lump of garbage in 20 years after the population crash and subsequent political and economic chaos.
Then it's 20th Century, Part II as the slowly pull themselves back together and start rebuilding to try another takeover in the 22nd century.
Lie flat, everyone. Let this ridiculous machine destroy itself. Think in terms of decades. In 10 years we'll all be laughing about how we once thought China was going to take over the world.
https://youtu.be/UPwtUTrwKRI "They were building cities the size of Indianapolis once a month... giant ghost towns of cheaply made dangerous buildings that nobody lives in just so they could cook the books on growth, housing, labor, everything..."
The scale of it is truly massive the fallout from this will be huge!
people have no idea how many ghost cities they built... it's insane.
the reason they were able to build so much so fast was to build paper thin walls with no insulation, no finishing, tiles falling off of walls less than a year after they were placed because the buildings are racking so badly...
these buildings are death traps, but china doesn't care... they aren't built to house people, they are built to manipulate the world economy
because it's a multi-layered effect...
you're putting people to work, even if they aren't being paid much and aren't really doing anything real it's still a job you can put on paper.
you're showing growth of giant mega cities all over the country, giving the false impression that this secretive authoritarian country is foreign ahead to the next century and keep in mind they weren't really going after the US with these projects, it was more of a dog and pony show to bolster their belt and road imitative showing chinas willingness to undertake massive infrastructure projects
building housing shows "strength" in their government to lead and provide for it's citizens, even if it's all faker than pornstar titties it's still something they can show their people and the world that their way works and they are able to provide for their people
it worked as a massive real estate hedge for worldwide investments... money came pouring in because the speculation was that you could buy there buildings on the cheap chinese currency then bank when the currency took off. so it allowed the CCP to shovel up cash, much more than they were putting out. money came in from all over the world into this fake nonsense... like a giant ponzi scheme.
it allowed china to go develop undeveloped parts of the country, forcing farmers off their land and into these cities... to bring more people into their control and influence. to be dependent on the CCP.
lastly (there are others) it gave manufacturing more room to spread out, by telling these big multinational companies "no problem, come invest here, build your factories here, we've got massive cites that we are going to fill with a workforce ready to go.
bottom line is what the world thinks goes on with china and what actually does are two very different things, the CCP makes sure of that. they will lie and cheat and steal all they want, there is no international body that has the balls to stop them... trump was the only one with the balls to do so and look what they did in response... they unleased a bioweapon to help get him out of office.
china is an undeniable threat, one that we allowed to happen, the ghost cities were just one piece to this puzzle but a very important one... it's like someone is standing on a rowboat in the middle of the ocean and started shooting a shotgun into the floor...
better get billy mays with some fix a flat patches cause this is some serious shit for them, they are now on a sinking ship and they are going to make some desperate moves to change the narrative...
taiwan is now 100% in the crosshairs.
Adding a bullet point, China has huge domestic demand for real estate investment properties based on price appreciation rather than rental income and the idea that physical real estate will have long term intrinsic value. I think a lot of the units have been sold to middle class Chinese, hence it had to exist but nobody planned to live there
an excellent addition to that list i cobbled together... there are many reasons why they did this, honestly we are just giving the most obvious ones.
Wish I could upvote 5 times, very succinct and spot on
Thanks for this very good explanation
np
i'm just a stoner telling you shit i've picked up dorking out on the china situation., i'm just trying to pass on what i know in an ELI5 way that a stoner like me can relate to...
just glad it translates.
Its how they lured in more and more investors, ponzi scheme. People would not invest in something they couldn't see. Build entire cities, investors will come.
run satellite coverage of country and if on paper it said there 100 new cities, but lanscape shows 0 new city areas ...
An urban explorer group "The Proper People" visited China in 2019 and have a dozen or so videos of YouTube visiting the abandoned and never finished buildings. I remember in some seeing cracks in the walls big enough to see right into the next room.
exactly... the buildings are fucking dogshit. the few that actually did get constructed properly, were either never finished or finished so cheaply/poorly that they all fell apart in a few years.
just like in other ventures if the shop next to yours is selling the same type of product you are, for less money... it doesn't matter if the quality is shit... stupid people only look at the price.
so it wasn't profitable to build things right when there are 12 other developers offering you "the same thing" for less money.
just like in industries where certain laws can be bent if the customers want that... the companies that do follow the rules can't compete because they aren't willing to risk breaking the law to bring in something that is beyond regulation limits.
the fireworks industry is a prime example of this.
take basic firecrackers for example (same thing applies to most categories of consumer product) the regulations on firecrackers in the US is silly... those "m-80's" you see most stores carry... nothing more than a regular sized 50 mcg of flash cracker inside a larger tube... however there are some people who import real m-80's with 4, 5, 6 full grams of flash... and those guys get all the sales if they manage to sneak them into the country.
the people following the law, following the regs... those are the companies that get screwed with because they are playing the compliance game. so the BATFE and CPSC target them for inspections and product sampling, even though they know the product is compliant (or at least trying to be) and they seemingly do nothing to stop the flow of illegal and dangerous items because those companies aren't registered with the self policing agencies like the APA.
but china... those fuckers in china will make you anything you ask them to, just pay them the money and they'll ship it... the rest is on your neck if you get caught.
big companies are too scared to roll those dice, small guys can afford to take the risk they have a lot less to lose.
i wouldn't be shocked at all to learn that the same thing was happening in the construction trades over there... you need something built that isn't even close to "code"... no fucking problem... someone is willing to do whatever you are willing to pay them to do... less quality means less money means more profit for someone.
They just toppled hundreds of them.
as far as I know China has been at this for over 20 years now. Why would it collapse now? what has changed that would make it serious now? I mean I've heard of empty cities in Chine in early 2000s for the first time. in 2010 i've heard people been slowly moving in to these empty cities.
All Ponzi schemes collapse. Maybe not this year but soon.
Hell there's an interview of Mel Gibson on Australian TV from the late 80s where he was warning people about China.
Evergrande was at the center of this ponzi scheme, they cant pay their bonds that are due, the investors see they are broke and have quit investing. No money to feed the scheme and it goes belly up.
because now this latest round of defaults has caused the whole armor plated monster to roll over and expose it's soft white underbelly...
people all over the world lost BILLIONS on this one conglomerated deal, and all these other real estate schemes are suffering from the same cancer...
shit buildings sold on speculation of growth that isn't ever going to happen... nobody is going to move into these cities, half of them are so fucked and falling apart that the CCP is ordering entire cites worth of dilapidated high rises to be blown the fuck up.
turn out the lights, the parties over.
China going to wish they stuck with fireworks and finger traps.
I've been saying that for years. The cargo ships unable to unload are also making a dent in their economy.
IMO these are both part of the broader war against the cabal. collapsing china's economy will also decimate the rest of the world and give a great opportunity for gold to destroy the fed
And, it is also showing America we need to manufacture here.
Edit: plus if you are a climate change fag, how is transporting by ship a good idea anyway?
I am not a climate change fag so plugging in my car doesn't seem like a good idea either :)
Lol I don’t think any of us here are, but I use this with normies. “You know, having our products made in countries with no climate emission standards and shipping their goods here by gas guzzling toxic ships seems like a terrible idea”.
And the strip mining for the lithium and slave labor for cobalt etc does not seem very eco either.
And then the end of lifecycle ewaste problem is not eco either
Eavesdropping on this conversation in a bar, this is the point I would’ve bought you all a round.
Yep, favorite point to use, even though it may be out of date now, was that it takes roughly ten years for EVs to become more CO2 efficient than ICEs. What's the expected life span of the batteries in EVs? They claim about ten years.
I want to change my car. What kind should you recommend right now? I need to get rid of the one I have for lack of parts.
Crown vic
I honestly don't believe that the chlimate change fags spend a lot of time in the rarified world of logical thinking and cause and effect.
Yep, just watch the mental gymnastics if you ask why Obama's mansion is merely feet from the seashore if the sea level is rising.
Just drove by a Costco absolutely CRAZY it was even busier than a normal Saturday, I would say the news narrative about shortages is kicking in big time, the lines to get gas there were a block long people will go nuts just watch.
Self sufficiency should always be the goal.
Yes, bring own the CCP as well.
He didn't even touch on the follow-on effects, which will be even MORE massive.
An incredible proportion of the Chinese economy and employment has been to take this once-unstoppable flows of capital and build, build, build WAY past the point when the real demand was exhausted, but the financial demand for investment properties remained fevered due to lack of alternatives. This resulted in beyond-insane overbuild - this video mentioned 90 million unoccupied residential units!
So no only will the highly-leveraged investments of most (unconnected, and thus unable to get their assets out of China) Chinese be largely wiped out, but the unemployment is going to be MASSIVE. The CCP has ZERO chance of surviving this.
Sort of reminds me of the student loans in the US. Extension of credit to ‘overbuild’ students with useless degrees.
Not to mention all the public retirement money (like California Teacher's Pensions) that will go down with it.
I would have initially presumed that Calpers and Calstrs would have eschewed chasing returns in the sketchy, unaudited Chinese market, but it turns out my presumption would have been wrong.
Hell, Calpers even turned over management of their whole damn fund to a Chinese national. 😲
They can get wrecked.
https://m.theepochtimes.com/california-pension-fund-increased-investment-in-chinese-a-shares-amid-sec-investigation_4026233.html
http://www.capoliticalreview.com/capoliticalnewsandviews/calstrs-massive-investments-in-china-but-disinvests-from-american-companies/
Holy balls. This is going to be one hell of a movie.
Hurray! The teachers teaching all that communist rubbish totally deserve this
The is America's end game, bankrupt the CCP, obstacles like, MSM, corporate wokeness, maybe even Rinos and DS get deflated!
CCP did it to themselves.
Gets me every time.
Agreed. The American economy can survive without China, USMCA helped along with that. The opposite cannot be said of the Chinese economy.
Will this impact the stock market?
...follow gold
Sorry to sound soulless, but... How does one make money off of this?
I already have a good stash of physical silver
This couldn't happen to a better bunch of comey bastards
When things went bust in 2008 how long did it take for the average person to feel the heat? Days? Weeks? Months?
I'm sure this will trigger a world event. I want to get an idea of how quickly things would escalate before every liberal is calling for Biden's head.
I remember it being about a 6 months for the actual collapse to hit the US market, right before the 2008 elections, and at my work we kept talking about how the economy was a zombie until it would hit us in Q2 of 2009. Then it hit, and the actual effects of downsizing/layoffs/no jobs hit in Fall 2009.
Honestly 08s impact felt like it was overnight. At least when it came to people panicking. I was too young to really be invested in the stock market at the time, but that felt like we were going through another 9/11. That was a traumatic time. As a new Yorker I felt like 08 honestly was almost as bad as 9/11.
If China's economy collapses, I suppose their economic imperialism plan goes up in smoke too.
Yes probably, the leadership will lose the Mandate of Heaven and their people will have a revolution
Ahh, nothing a nice tidy lil' WW3 couldn't distract the sheeples attention away from. Or an in-house prefab lil' CW2 right here in the good ol' land of chinese milk n' honey!
Or BOTH. I can't wait to see what happens next! They cannot keep this up much longer.
https://greatawakening.win/p/13zgNkL8Vw/epic-vid-on-evergrande-and-how-b/c/
Our own country will go through just as large of a real estate bubble that's been brewing for 60 years. People don't seem to understand millenials aren't having children or large families, and the U.S is one of the least densely populated nations on earth. The only reason we are seeing such a crunch is because we've hardly built any new real estate in the last 10 years and millenials and gen z are finally getting 2% interest loans and are stupid enough to buy into a 30 year mortgage, and just like having amnesia, completely forgetting what happened in 2008.
Don't get me wrong, many areas, despite being over inflated, still offer fair prices on housing, but everywhere else is a total bubble and it WILL permanently pop in the next 10 years as it did in Japan, which oddly enough use to be the hottest real estate market in the 80s and 90s due to having so little space.
What do you see the repercussions being in the US real estate market at the macro and micro level? I’m in a hot area at the moment, but comparative to other areas of the USA prices are still attractive. People are flooding into my area because of the low taxes and prices. Sadly mostly are blue-haired liberals moving into my specific area although my state (NC) is mostly red. I’m currently shopping for a second home (I rent the other home) and I’m considering waiting 6-12 months to see if things cool down in my area. Right now it’s a sellers market with nearly all single family homes selling for over asking with multiple offers.
Curious on everyone’s thoughts on the real-estate held in the US, by China. Personally, I do believe there will be a fire sale on those properties and investments. I also believe that our stock market is also going to be negatively affected by the sale of China’s investments in the maker’s. Thought’s??
Curious as well. I’m considering if I should buy a second home or land. Or maybe wait another 6-12 months and see what happens. The real estate market I’m in is pretty hot right now; homes selling over asking with multiple offers. It’s a sellers wet dream right now in my area.
I guess depending on where you are. East coast getting a lot of corporations buying houses up to rent. Almost like what the government wants to do with the new reset. My concern is When the housing market, or should I say building market in Chine goes to shit these investors holding interest in US real-estate and their interest in the stock market is going to be affected. They will have to get their money from someplace!
So your saying buy and hold GME. Got it.
We're discussing china's RE fiasco being the first domino but people have to see that the US/world also invested heavily in these papers? It won't be just china.
u/#cashmoney
So is this a good thing or a bad thing for us?
Grade-A FUD
If I have 50 GME with Fidelity, how to I DR ? Thanks Fren!!
Is the process any different if you already have a CS account?
Can someone do the same with RH?
And how to pull crypto out of RH to personal wallet?
Many people report troubles going directly from RH>>CS, so they're going to Fidelity first.
RH >> Fidelity >> CS
Thanks, Fren!
I'll look into how to do that.
Gotta make sure my tendies are real!
I feel like I should do this too
Thanks!!
research pros/cons of DRS before you decide how many of your shares you want to transfer
Thanks will do!
Thank you fren!!
Okay, direct register GME shares check, what is FTW?
alright!
drs?