Evergrande Just Took A Huge Blow, Court Orders Liquidation. This Could Be A Big Financial Domino.
(media.greatawakening.win)
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I'm not a finance person by any stretch of the word but this seems like a big step towards collapse. Knowing how important the real estate market is to the Chinese economy, and what a paper tiger it is, this has potential to send huge ripples (or waves) throughout the Asian markets.
Time will tell, but it sure seems like an important step.
Well, a lot of people have characterized China's real estate market as a giant ponzi scheme built as a house of cards... what could possibly go wrong?
There are many economic forces working to collapse the house of cards, but there are also many forces inside China working to prop it up for a bit longer. That is one of the reasons why it is so difficult to date-fag when it will all come crashing down.
The real question is: how much will the implosion of China's economy affect the rest of the world, which is already very weak economically - just look at all the fake economic data being spewed by pResident Buy-din trying to fool people into thinking everything is fine and wonderful, etc.
They are all about to get the mother of all bitch-slaps from reality. Interesting times...
I suspect the Hong Kong judge will die of “natural causes” and the verdict will be appealed to the “proper” mainland court who will reverse the prior decision and kick the debt can down the road just like our Congress does.