I was just going to link to that Zerohedge article.
Takeaway from this, for the doomers out there, is that the CCP is not bailing them out, to send a message about what is basically a ponzi scheme. But they are also going to try to build a fence around the damage the default caused. Kinda like what we should have done in 2008. Be skeptical of those saying this will lead to another Great Recession/Depression, etc. etc. though it may not help things, the way they are going.
It's about time.
the sleeping dragon?
city gov's are like 10,000/1 over-leveraged... and its hidden, off the books!
the RE crash just might tear down the veil.
some bank said its something like 9 trillion.
Evergrande Has Finally Defaulted: Here's What Happens Next
I was just going to link to that Zerohedge article.
Takeaway from this, for the doomers out there, is that the CCP is not bailing them out, to send a message about what is basically a ponzi scheme. But they are also going to try to build a fence around the damage the default caused. Kinda like what we should have done in 2008. Be skeptical of those saying this will lead to another Great Recession/Depression, etc. etc. though it may not help things, the way they are going.
They’ll blame it all in blockchain watch