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

[Zbk3VmLfujjzjxBd43tL]

Xi the pooh have to find quickly a scapegoat before he become the sacrificial lamb himself.

The CCP bosses always find a way. Usually they blame a few lesser officials and corporate leaders for "corruption" and give them lengthy prison sentences.

 

[Ser Prize]

Affected positively, right?

Ok, that would be bad.

If only we could redirect them to California.

 

[Michael Janke]

Keep an ear out for stuff like this, too. When the bankers are bailing out of their cushy CEO/CFO positions for "personal reasons" or because "some (non-criminal) scrutiny has fallen on their market trades", then you know something's up.

are these people smart enough to dissapear to places with no extradition.
how much would you have to pay for a fake death and citizenship to one of these countries to hid your tracks?

 

[RainwaterDrop]

are these people smart enough to dissapear to places with no extradition.
how much would you have to pay for a fake death and citizenship to one of these countries to hid your tracks?

Either that or defecting. In China there are cases of people paying others to serve prison sentences for them, but this case would be too high profile, defecting and going undercover would be the only way out!

 

[Knight of the Rope]

Well, in the meantime since Evergrande somehow 'managed' to pay off part of their immediately-due debt by waiting until the last possible moment before defaulting (you know, as all of the solvent companies do with their payable debts), we've had another one bite the dust: Modern Land.

China's Modern Land defaults on bond payment; property shares drop

Modern Land defaulted on a bond payment, the latest Chinese property developer to do so, adding to worries about the wider impact of the debt crisis at behemoth China Evergrande Group , and weighing on shares in the sector.

www.reuters.com

(archive)

 

[Super-Chevy454]

Well, in the meantime since Evergrande somehow 'managed' to pay off part of their immediately-due debt by waiting until the last possible moment before defaulting (you know, as all of the solvent companies do with their payable debts), we've had another one bite the dust: Modern Land.

China's Modern Land defaults on bond payment; property shares drop

Modern Land defaulted on a bond payment, the latest Chinese property developer to do so, adding to worries about the wider impact of the debt crisis at behemoth China Evergrande Group , and weighing on shares in the sector.

www.reuters.com

(archive)

To parapharase Queen: "Another one bites the dust". Evergrande is saved at the cost of Modern Land.

 

[uncleShitHeel]

To parapharase Queen: "Another one bites the dust". Evergrande is saved at the cost of Modern Land.

I don't think it's saved just yet

 

[Super-Chevy454]

I don't think it's saved just yet

I agree, it's just another kicking the can down the road.

 

[Kramer on the phone]

Remember everyone, our good friend @mindlessobserver promised to eat a hard hat and post pictures of his asshole on the off chance he was wrong that the entire chinese economy collpases by October 28th. its currents roughly 9pm in shanghai right now. so we have about 3 hours before either shit hits the fan or @mindlessobserver gives us a food review of hardhats.

 

[Knight of the Rope]

Remember everyone, our good friend @mindlessobserver promised to eat a hard hat

You took it seriously when he tried to pull a @Techpriest? Nobody ever goes full @Techpriest, not even @Techpriest.

 

[Sped Xing]

If the Chinese economy doesn't collapse by tomorrow, I'll eat Italian Beef Stew with a toasted bun for dipping.

 

[Clockwork_PurBle]

What is the deal with the October 28th deadline? Did Mindless Observer just make it up?

 

[mindlessobserver]

What is the deal with the October 28th deadline? Did Mindless Observer just make it up?

That was when Evergrande was supposed to default. Instead they just stole the owners private money to make interest payments and kicked the can down the road for another month. Gotta love Commies. Who knows how long they can keep the music going now.

In another news, Alibaba lost 344 billion dollars.

Alibaba Has Lost $344 Billion in World's Biggest Wipeout

Few people could have predicted the downward spiral for Alibaba Group Holding, when founder Jack Ma delivered a blunt criticism of China’s financial system last October.

www.bloomberg.com

 

[Knight of the Rope]

Instead they just stole the owners private money to make interest payments and kicked the can down the road for another month.

Yeah, that was hilarious. You know you're in for bad times ahead when your (authoritarian, likes to publicly or privately execute people for shit like this) country is 'asking you' to pay back Evergrande's debts out of your own pocket.

Chinese authorities have told Evergrande's billionaire founder to use his own money to pay down the company's $300 billion debt, Bloomberg reports

Hui Ka Yan's net worth is about $7.6 billion, according to the Bloomberg Billionaires Index. Evergrande's debt is $300 billion.

www.businessinsider.com

 

[Garm]

Yeah, that was hilarious. You know you're in for bad times ahead when your (authoritarian, likes to publicly or privately execute people for shit like this) country is 'asking you' to pay back Evergrande's debts out of your own pocket.

Chinese authorities have told Evergrande's billionaire founder to use his own money to pay down the company's $300 billion debt, Bloomberg reports

Hui Ka Yan's net worth is about $7.6 billion, according to the Bloomberg Billionaires Index. Evergrande's debt is $300 billion.

www.businessinsider.com

Also told Evergrande to finish construction projects instead of paying creditors. I'm sure that is helping the situation a whole bunch.

 

[George Lucas]

That was when Evergrande was supposed to default. Instead they just stole the owners private money to make interest payments and kicked the can down the road for another month. Gotta love Commies. Who knows how long they can keep the music going now.

In another news, Alibaba lost 344 billion dollars.

Alibaba Has Lost $344 Billion in World's Biggest Wipeout

Few people could have predicted the downward spiral for Alibaba Group Holding, when founder Jack Ma delivered a blunt criticism of China’s financial system last October.

www.bloomberg.com

Shouldn’t ‘kicking the can down the road’ result in market forces gtfo’ing out of China, thus collapsing its economy?

Oh wait, China being a house of cards has always been priced-in. Who would’ve thought?

No wonder you doomposting faggots continue to get dumbshit ‘investments’ like gold.

 

[Michael Janke]

Shouldn’t ‘kicking the can down the road’ result in market forces gtfo’ing out of China, thus collapsing its economy?

Oh wait, China being a house of cards has always been priced-in. Who would’ve thought?

No wonder you doomposting faggots continue to get dumbshit ‘investments’ like gold.

would economic collapse actually make china less of a threat, or would the government use it as a way to consolidate even more power into itself?

 

[Garm]

would economic collapse actually make china less of a threat, or would the government use it as a way to consolidate even more power into itself?

I figure less of a threat as internal turmoil ravages the country. The real estate market in China was pretty much the only way the common people of China could get ahead. Now the entire thing is imploding in a manner I think the Chinese people didn't think was possible.

From the sound of it Evergrande basically took people's money and people will be lucky to get three walls and an outlet by the time this is finished.

I think people are going to be pissed.

 

[X Prime]

Aw man one Techpriest was bad enough.

 

[Sped Xing]

If the Chinese economy doesn't collapse by tomorrow, I'll eat Italian Beef Stew with a toasted bun for dipping.

I am a man of my delicious word.

Get on my level, skrubs.