Sounds like a good name for unlimited refills at Starbucks.
So whats up with this sell off 9-20-2021
- Thread starter Rickshaw Man
- Start date
Sounds like a good name for unlimited refills at Starbucks.
That too but it's also because everybody thinks this potential Evergrande failure is the China's Lehman Brother and is going to trigger a 2008-financial crisis all over again for all around the world.
Like seriously China??!!! How much debt or stocks did we buy from these Chinese companies?? How many of us have ever heard of this Evergrande before today?? Like really??!! Think people, think!!! You still have brain cells left. How would a company that you've never heard of until today or still have not heard of trigger a financial crisis here?? I was a bit worried about the possible failure of another company Huarong Asset Management earlier because that company actually had foreign debts held in Europe and in the US (by the stupid Goldman Sachs) but that company got quietly bailed out by the CCP without us even hearing about it because the company is completely state-owned and state-run. https://www.forbes.com/sites/george...g-bailout-was-the-right-move/?sh=2e5b4dbb4fd6
This Evergrande apparently is privately owned, aka without seed money from the CCP so the CCP doesn't give a s***. It's been wanting to cool down the real estate market for years so I am sure it thinks this is the perfect opportunity. Again it's the little people in China that's going to suffer.
China may not bail out the company but they will have to bailout the banks. 300bn isn’t a trivial amount to lose, but it’s nothing like subprime.
Hah! Just wait until Powell's Q&A session on Wednesday when someone asks him "What can the Fed do to protect the US economy from fall out of an Evergrande default and collapse?"
When Powell says "There's nothing we can do", there will be more selling as everyone panics that the Fed for once cannot fight off this drop, thus the catalyst for the correction that everyone, weirdly, seems to want.
That too but it's also because everybody thinks this potential Evergrande failure is the China's Lehman Brother and is going to trigger a 2008-financial crisis all over again for all around the world.
I was a bit worried about the possible failure of another company Huarong Asset Management earlier because that company actually had foreign debts held in Europe and in the US (by the stupid Goldman Sachs) but that company got quietly bailed out by the CCP without us even hearing about it because the company is completely state-owned and state-run. https://www.forbes.com/sites/george...g-bailout-was-the-right-move/?sh=2e5b4dbb4fd6
This Evergrande apparently is privately owned, aka without seed money from the CCP so the CCP doesn't give a s***. It's been wanting to cool down the real estate market for years so I am sure it thinks this is the perfect opportunity. Again it's the little people in China that's going to suffer.
This will absolutely have global implications. Dumb phuck, the ticker is EGRNF (not that it matters; pub/private). $300B default. LEH was marginally smaller based upon Fed backstops (280).
LOL yeah it really does.
But different tastes over in Asia w.r.t. to what's cool sounding and not.
Well Powell for once is correct on this one. There is nothing that the Fed can do to resolve the stupidity of people who think the failure of a company that they've never heard of in a land that's on the other side of the earth is going to tank our economy.
That too but it's also because everybody thinks this potential Evergrande failure is the China's Lehman Brother and is going to trigger a 2008-financial crisis all over again for all around the world.
I was a bit worried about the possible failure of another company Huarong Asset Management earlier because that company actually had foreign debts held in Europe and in the US (by the stupid Goldman Sachs) but that company got quietly bailed out by the CCP without us even hearing about it because the company is completely state-owned and state-run. https://www.forbes.com/sites/george...g-bailout-was-the-right-move/?sh=2e5b4dbb4fd6
This Evergrande apparently is privately owned, aka without seed money from the CCP so the CCP doesn't give a s***. It's been wanting to cool down the real estate market for years so I am sure it thinks this is the perfect opportunity. Again it's the little people in China that's going to suffer.
It's not the news that triggered the market. It's the news media who started blowing up the best story to attribute to this move.
This Evergrande story has been developing for over a year. No deviations from its downward trajectory. Are there more bad things in store for China? Yep, on many other fronts.
You know this is how its going to be for TESLA. People are going to come out all surprised.
Last edited: