China says collapsing real estate giant EVERGRANDE overstated revenue by 78 billion.
(www.breitbart.com)
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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.