Jump to content
Join the Unexplained Mysteries community today! It's free and setting up an account only takes a moment.
- Sign In or Create Account -

China Hunga, Evergrande's high possibility on default


Great Old Man
 Share

Recommended Posts

https://www.hankyung.com/finance/article/202109242881i

 

 

Hungda(Evergrande) is believed to have come even closer to the default as it failed to pay interest on dollar bonds eventually. According to the bond contract, it is not considered that the official default was made within 30 days from the date of interest payment. Upon default, creditors can apply to the court for the commencement of Hungda's bankruptcy proceedings.

 

What is funny, is that Evergrande Payed China's bond.

 

  • Like 4
  • Thanks 1
Link to comment
Share on other sites

 

I think the world is on the brink of some serious economic disruptions.  The only unknown (to average people) is which event will be used to trigger the collapse.  Politicians over here are trying to push multiple TRILLIONS of dollars into an already overheating economy.  Historically, that has guaranteed the collapse of Fiat currencies.  

  • Like 7
Link to comment
Share on other sites

10 hours ago, and then said:

I think the world is on the brink of some serious economic disruptions.  The only unknown (to average people) is which event will be used to trigger the collapse.  Politicians over here are trying to push multiple TRILLIONS of dollars into an already overheating economy.  Historically, that has guaranteed the collapse of Fiat currencies.  

 

Indeed, Like Roman Empire collapse

  • Like 4
Link to comment
Share on other sites

This will be the beginning of the end for the rise of China. The entire country is supported by hot-air and hopeful wishes. 

Reading up on Evergrande, it only worked like a ponzi scheme. It required future property investors to fund current projects. Once the investor money fell off, the company was doomed. Its eating itself right now and will fail completely within months.

  • Like 4
Link to comment
Share on other sites

China asking state-backed firms to pick up Evergrande assets

Beijing is prodding government-owned firms and state-backed property developers such as China Vanke Co Ltd  to purchase some of embattled China Evergrande Group's assets.

Authorities are hoping that asset purchases will ward off or at least mitigate any social unrest that could occur if Evergrande were to suffer a messy collapse.

Potential buyers of Evergrande's core assets in Guangzhou have been "arranged" with "both political and commercial considerations" in mind.

https://www.reuters.com/world/china/china-asking-state-backed-firms-pick-up-evergrande-assets-sources-2021-09-28/

 

China's power crunch dwarfs Evergrande's troubles in investors' eyes.

China's power supply crunch, that has shut factories across the country, may pose a much bigger threat to the economy than the debt crisis at Evergrande Group, prompting investors to shun industries vulnerable to power shortages such as steelmaking and construction.

Goldman Sachs and Nomura have revised down projections for Chinese economic growth this year as a result. Shares in Chinese chemical producers, carmakers and shipping companies have tumbled, while renewable energy stocks have soared.

Investors believe the potential scale of the problems could dwarf the any fallout from liquidity troubles at property developer Evergrande, with liabilities of $305 billion

The electricity outages would break the supply-demand equilibrium, dealing a direct blow to consumption and the real economy.

"The fallout is more likely to be out of control.

https://www.reuters.com/world/china/chinas-power-crunch-dwarfs-evergrandes-troubles-investors-eyes-2021-09-28/

  • Like 5
Link to comment
Share on other sites

China: Widespread power outages hit households, businesses.

The Chinese government has imposed power curbs to deal with an imbalance in energy supply and demand. A broad range of manufacturing sectors have been affected by the cuts. China's power consumption is growing at almost double its usual rate.

Power rationing is currently taking place in at least nine provinces and regions.

Both households and business are facing electricity cuts, as factories in China's busiest manufacturing provinces have been ordered to suspend production for up to a week.

Some power providers have sent notices to heavy electricity users prompting them to either halt production during peak power periods that can run from 7AM and 11PM, or shut operations entirely for two to three days a week.

https://www.dw.com/en/china-widespread-power-outages-hit-households-businesses/a-59355022

  • Like 5
Link to comment
Share on other sites

13 hours ago, L.A.T.1961 said:

China: Widespread power outages hit households, businesses.

 

This, IMHO, is the biggest story right now that almost no one is talking about. Could be another 2008 collapse.

  • Like 4
  • Thanks 1
Link to comment
Share on other sites

8 hours ago, DieChecker said:

This, IMHO, is the biggest story right now that almost no one is talking about. Could be another 2008 collapse.

It's getting very little coverage in the mainstream press, only finance focused outlets.

If you don't happen to follow these, like the Chinese, you are in the dark.  :rolleyes:

Edited by L.A.T.1961
  • Haha 2
Link to comment
Share on other sites

1 hour ago, L.A.T.1961 said:

It's getting very little coverage in the mainstream press, only finance focused outlets.

If you don't happen to follow these, like the Chinese, you are in the dark.  :rolleyes:

Ha. In the dark.... I get it... :tu:

  • Haha 2
Link to comment
Share on other sites

As investors wait for an announcement about the future of struggling Chinese real estate giant Evergrande, two more property companies are causing concerns over their ability to repay debt.

BBC report at MSN

  • Like 3
Link to comment
Share on other sites

I saw this today and it made me believe that an already dire situation is about to become the trigger for our descent into a REAL dystopian nightmare.  The CCP is already using their own version of crypto-currency and many other countries are moving in that direction.  The Fed will have a digital dollar soon and at that point real freedom will be gone.  There will be NO privacy any longer.  Uncle Sam will know where we spend every penny and WHAT we've spent it on. 

BUT.. the absolute WORST part of this is the government's ability AND willingness to "program" the "acceptable uses" of that currency.  That's right, friends and neighbors... whether citizens are receiving a UBI, OR are traditionally employed, the government will have the ability to choose FOR YOU what you are allowed to use YOUR earnings for.  Think about the current situation in the U.S. where some banks refuse to loan money OR allow their credit lines to purchase products they "disapprove of".  I occasionally used PayPal as security measure until I found that they rejected my ability to purchase ammo or a firearm, online.  I immediately paid off the small balance I had and began using a similar company called Privacy.com.  You get the same level of online security without some Leftist ideologue getting in the way of your buying choices.

  • Like 1
Link to comment
Share on other sites

1 hour ago, and then said:

I saw this today and it made me believe that an already dire situation is about to become the trigger for our descent into a REAL dystopian nightmare.  The CCP is already using their own version of crypto-currency and many other countries are moving in that direction.  The Fed will have a digital dollar soon and at that point real freedom will be gone.  There will be NO privacy any longer.  Uncle Sam will know where we spend every penny and WHAT we've spent it on. 

BUT.. the absolute WORST part of this is the government's ability AND willingness to "program" the "acceptable uses" of that currency.  That's right, friends and neighbors... whether citizens are receiving a UBI, OR are traditionally employed, the government will have the ability to choose FOR YOU what you are allowed to use YOUR earnings for.  Think about the current situation in the U.S. where some banks refuse to loan money OR allow their credit lines to purchase products they "disapprove of".  I occasionally used PayPal as security measure until I found that they rejected my ability to purchase ammo or a firearm, online.  I immediately paid off the small balance I had and began using a similar company called Privacy.com.  You get the same level of online security without some Leftist ideologue getting in the way of your buying choices.

Hi And Then

Well I guess this make it an optimal situation for going to war with Taiwan huh.:lol:

  • Like 1
Link to comment
Share on other sites

 
On 10/12/2021 at 1:49 PM, jmccr8 said:

Hi And Then

Well I guess this make it an optimal situation for going to war with Taiwan huh.:lol:

 

Truly, highly possible scenario.

 

 

  • Confused 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.