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.
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.
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.
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.