China says collapsing real estate giant EVERGRANDE overstated revenue by 78 billion.
(www.breitbart.com)
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If only they paid their loans and all interest on time this would not be an issue ... Oh wait: Are they listed in NY? Someone should let Letitia James know ...
Exactly
My exact thought when I read the title of this post....
Worldwide boom
Any thoughts on this compamy finally falling? This will surely be a large scale Boom when it goes.
I’ve been worried about being on top of this. I’m within months of the finish line. But over all, let’s get this nightmare rolling. I’m ready . F it.
Wheels are coming off in DC so I predict many tragedies in the news. Can’t let the people see behind the curtain.
Well expressed fren
There was a post about Evergrande going bankrupt seven or eight months ago. I was trying to find a video I'd watched about it a few weeks ago and found that post. Seems like a good refresher.
It’s gotten to the point that they can’t hide it anymore, which is concerning. The pace of bankruptcies and bank failures is going to pick up through the spring. The response will be to print more money to keep these big companies and the market (in general) standing. This will trigger massive inflation which will increase interest and add more stress to the system. The death spiral of the financial system will then accelerate even more. Their number one goal will be to keep the wheels on until after the November presidential election. I don’t think that they can do it. I expect their backup strategy will be to try to start WW3 to distract and blame for the collapse.
They have been going bankrupt for several years now, China keeps putting it off.
Lots of us banks and hedge funds will lose collateral.
Here is a link to the house of cards DD, for those who haven't read it.
https://fliphtml5.com/bookcase/kosyg
I think I will read it again.
So a single domino could fall now
I'm amazed they still have it propped up.
Moon soon.
Now do the rest of the banks.
It's a hidden boom. I once read that a lot of investors are heavy invested in Evergrande, 401s, hedgies etc. They hide the collapse, it seems, but it's inevitable.
Real estate is where many Chinese put their life savings. It was perceived as being not just a safe investment for a historically growing population, but it was also tangible, which is important for those in a communist system that are used to overt shenanigans and market manipulation. Unfortunately this market was rife with fraud and manipulation too.
Stock is down almost 21%
Well that’s what happens if the business model is based off honeypot plot and blackmailing.
Yes looking at Epstein too.
And they're complaining about TRUMP? lol idiots
Did Evergrande build all those ghost cities with slipshod workmanship and materials? This will settle down in a couple of year and China will be in a new world of hurt because of their declining replacement population. They won't be needing all those cities.
Look in Ukraine.