Evergrande Financial Panic - Corona is not the only Contagion China is exporting

Indeed. A friend of mine lived in China for a year and noted all the corner that were cut in the building process. His bathroom vent was a straight round pipe that exited through a triangle shaped hole in the wall.

He also had a photo of a students computer that caught fire just by plugging it in. Or did I see that here? Either way, it sounded like Chinese cities were once bad storm from being swept from the face of the earth.
I've watched dozens and dozens of videos of chinks getting sucked into escalators, falling down elevator shafts, stairs randomly collapsing, people randomly bursting into flames. I'm convinced the leadership of the CCP are just huge fans of slapstick and love seeing what is basically R rated Three Stooges happen every day.
 
The problem in China is they don't actually act in Chinese interests either. The most hilarious thing about Chinese Communism is it has created the worlds most individually self interest focused least empathetic people in human history. They act exclusively in their own interests. To the detriment of everyone else if possible.
Absolutely. People don't understand just how self centered the average Chinese is, their culture is built around "fuck you, got mine", ironically because of their Marxism. Some of the stories you hear coming out of there are hilarious. This video is a couple of guys biking around rural China and showing how dilapidated everything is because the residents just will not actually shell out to repair their shit. One of the more telling stories (at 9:10 in the video) is how a light in the elevator for an apartment complex was broken, a repair job that would cost 5 bucks max and none of the residents would shell out the money to repair it, or even agree to split the cost which would amount to cents per tenent, so it was like that for seven years.

 
how does that happen?

You'd be shocked but there are a number of ways for cloth to self ignight, some Dyes if not treated correctly have a chemical reaction causing them to self ignight, Boiled linseed oil (both natual and chemically treated) will light themselfs on fire when they dry, hell some that won't self ignight are static sensitive and will catch fire quickly, product safety standards what are enforced in the west prevent this but in China where it's the wild west and safety standards are viewed as a stupid added cost it happens regularly.
 
You'd be shocked but there are a number of ways for cloth to self ignight, some Dyes if not treated correctly have a chemical reaction causing them to self ignight, Boiled linseed oil (both natual and chemically treated) will light themselfs on fire when they dry, hell some that won't self ignight are static sensitive and will catch fire quickly, product safety standards what are enforced in the west prevent this but in China where it's the wild west and safety standards are viewed as a stupid added cost it happens regularly.
Drying oils (boiled linseed, safflower, etc.) harden through an exothermic polymerization. If there isn't enough cooling or the reaction is accelerated then the oiled item (cloth and paper especially) can very easily auto-ignite.

I'm trying to think of specific dyes that would cause a similar reaction but I'm no expert on clothes dyeing.
I also wonder how much rayon is put into Chinese clothing, intentionally or through adulteration. It's often used as artificial silk and will catch fire readily.
 
Absolutely. People don't understand just how self centered the average Chinese is, their culture is built around "fuck you, got mine", ironically because of their Marxism. Some of the stories you hear coming out of there are hilarious. This video is a couple of guys biking around rural China and showing how dilapidated everything is because the residents just will not actually shell out to repair their shit. One of the more telling stories (at 9:10 in the video) is how a light in the elevator for an apartment complex was broken, a repair job that would cost 5 bucks max and none of the residents would shell out the money to repair it, or even agree to split the cost which would amount to cents per tenent, so it was like that for seven years.

A real and big contrast with some vlogs posted by a Youtuber nicknamed "The Electric Viking" talking of Chinese car builders and their EV cars.
 
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stock woes monday :story: :story:
 
Seems like Fantasia Holdings Group has the potential to be the next turd to hit the fan. Compared to Evergrande it is minor player, but suffers from very same issues.

https://news.bloomberglaw.com/bankr...s-skips-bond-payment-due-monday-on-2021-notes
https://www.fitchratings.com/resear...n-repayment-risk-weak-transparency-04-10-2021
https://www.reuters.com/companies/1777.HK

Then again it might be easier to list the Chinese real estate companies that have credit rating that doesn't start with C.

EDIT: One noteworthy thing about Fantasia is that in the listing I posted earlier it was among the firms that hadn't breached any of the three red lines set by the communist party, and it still went from B to CCC in one fell swoop when push came to shove.
 
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Seems like Fantasia Holdings Group has the potential to be the next turd to hit the fan. Compared to Evergrande it is minor player, but suffers from very same issues.

https://news.bloomberglaw.com/bankr...s-skips-bond-payment-due-monday-on-2021-notes
https://www.fitchratings.com/resear...n-repayment-risk-weak-transparency-04-10-2021
https://www.reuters.com/companies/1777.HK

Then again it might be easier to list the Chinese real estate companies that have credit rating that doesn't start with C.

EDIT: One noteworthy thing about Fantasia is that in the listing I posted earlier it was among the firms that hadn't breached any of the three red lines set by the communist party, and it still went from B to CCC in one fell swoop when push came to shove.
Supply chain shocks, debt market shocks, labor shortages, energy crunches, inflation, and a pesky coronavirus with enforced government shutdowns.

Those domino's falling are getting louder.
 
I've watched dozens and dozens of videos of chinks getting sucked into escalators, falling down elevator shafts, stairs randomly collapsing, people randomly bursting into flames. I'm convinced the leadership of the CCP are just huge fans of slapstick and love seeing what is basically R rated Three Stooges happen every day.
A 14 year old boy died after an office chair's gas mechanism exploded.
True story
 
A 14 year old boy died after an office chair's gas mechanism exploded.
True story
This is why I don't ever buy cheap office chairs. I've seen way too many photos of blood stained chairs with a hole in the seat. Yeah spending $700 on a chair sounds insane but would you prefer to buy Changs Offishur Office Chail™ shoot a metal piston up your ass?
 
A 14 year old boy died after an office chair's gas mechanism exploded.
True story
#doubt
The alleged explosion came from the gas cylinder that was in the base of the chair, the part that allowed the user to adjust the seat up and down. The canister gets compressed when you sit on it, but can it actually create enough energy to make the seat cushion explode like that and kill a man? I doubt it, but this is what people are reporting.
 
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The Second Domino would appear to be falling.
Another large Chinese Real Estate Developer just missed their Bond Payments. Oh and for funsies, Evergrande is apparently seeking to sell a portion of their real estate management portfolio and controlling interest in the company for $6 billion. (They owe at least $300 billion). Oddly there don't seem to be any takers?
 
The Second Domino would appear to be falling.
Another large Chinese Real Estate Developer just missed their Bond Payments. Oh and for funsies, Evergrande is apparently seeking to sell a portion of their real estate management portfolio and controlling interest in the company for $6 billion. (They owe at least $300 billion). Oddly there don't seem to be any takers?
I suspects then the takers waits then Evergrande will drop the price and buy the portion in question more cheaply. :thinking:
 
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