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The really worrying financial crisis is happening in China, not Greece
The Telegraph ^ | 07/08/15 | The Telegraph

Posted on 07/08/2015 5:31:17 AM PDT by Enlightened1

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1 posted on 07/08/2015 5:31:17 AM PDT by Enlightened1
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To: Enlightened1

Bttt


2 posted on 07/08/2015 5:35:05 AM PDT by Chgogal (Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
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To: Enlightened1

China sits on the granddaddy of all real estate bubbles. The communist controlled central bank directed the squandering of $2 trillion of capital into the building of needless “ghost cities” that sit empty, decaying and no return on investment. Their real estate is artificially and unrealistically valued. Their loans and banking are based on artificially high real estate values. A small decline in real economic output and the whole system tumbles. Remember 2008. The US as a political result got Obama. The world should really shudder for what will happen in China.


3 posted on 07/08/2015 5:42:19 AM PDT by allendale
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To: Enlightened1

I don’t have much to back this up, however word on the beaten path is many Chinese outside of the great firewall are hiding their wealth in LTC and BTC. Since last week, LTC has doubled in price and volumes of trades/purchases are fairly high. LTC is somewhat a gamble however BTC has been pretty flat for two weeks so it would be a good method of moving wealth quietly.
I am not advocating buying into crypto at all. I have some crypto that I can live with or without and plan on seeing where it is in five years as a personal experiment is all. Other’s day trade crypto or move their money around the globe without being tracked.


4 posted on 07/08/2015 5:42:57 AM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: allendale

You’re exactly correct.

I’ve seen these ghost cities and malls with my own eyes.

I also saw, just a few short months ago, 30 year old engineers giggling and laughing and looking at their phones in the middle of a business meeting. I learned afterward, they were tracking their stocks... all day, every day. EVERYONE with two nickels to rub together, was investing it into the stock market. They all saw it as a quick way to “easy money”. I shuddered when I remembered the way I invested in the early 80’s.

China is new to this “freedom gig”. They’re excesses put our previous meager efforts to shame. This is going to be one large group of VERY unhappy people when it collapses... and, that sure looks to be what it happening.


5 posted on 07/08/2015 5:52:40 AM PDT by SomeCallMeTim ( The best minds are not in government. If any were, business would hire them!)
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To: Enlightened1
The really worrying financial crisis is happening in China, not Greece

Yeah, I'm REALLY worried about what happens to China.

Not.

6 posted on 07/08/2015 5:53:44 AM PDT by Jim Noble (Pay no attention to that man behind the curtain.)
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To: allendale
Your post #3 is correct, but, only $2 Trillion? Aren't we talking about dozens of ghost cities with apartments, roads, schools, sewer and water systems? Scores of empty shopping centers. Underused transportation systems.

Isn't $2 Trillion an extremely conservative estimate?

7 posted on 07/08/2015 5:55:49 AM PDT by Former Proud Canadian (Save Western Civilization. Embrace the new Crusades.)
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To: allendale

Well said!

That’s what I have been hearing too.


8 posted on 07/08/2015 5:58:19 AM PDT by Enlightened1
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To: Jim Noble

If China goes down, then it will affect all markets and possibly lead to World War.

Hopefully, it will never come to that.


9 posted on 07/08/2015 5:59:46 AM PDT by Enlightened1
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To: Enlightened1
Hopefully, it will never come to that.

Well, thankfully we're continuing to draw down our military - so there's that. /sarc

10 posted on 07/08/2015 6:02:31 AM PDT by mykroar ("Never believe anything until it has been officially denied." - Otto von Bismarck)
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To: Enlightened1

Communist Stock Market is an oxymoron.


11 posted on 07/08/2015 6:03:54 AM PDT by Buckeye McFrog
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To: mykroar; All

CHINA melting down towards the biggest stock market crash since the Great Depression and will drag us all down with it.


12 posted on 07/08/2015 6:04:02 AM PDT by Enlightened1
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To: SomeCallMeTim

The waste of commodities and resources alone to build these cities is staggering.


13 posted on 07/08/2015 6:07:14 AM PDT by headstamp 2
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To: Enlightened1
CHINA melting down towards the biggest stock market crash since the Great Depression and will drag us all down with it.

How/why is that? I would think China melting down would boost our economy.

14 posted on 07/08/2015 6:11:10 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: Jim Noble

You should be. Greece is a farce, with no recourse other than to drink more ouzo and snivel a little more. The only long-standing grudge they have is against Turkey and they have not really cared about that one for 40 years.

China OTH manufactures a lot of the consumer goods we buy weekly, holds hundreds of billions of Treasury Bonds which they could unload quickly if they need liquidity (which they will soon), and has a large population of single men that are of military age. Their hardware is not comparable to ours, but at a certain point, quantity acquires a quality all its own.

And let’s not forget the grudges... Japan, Taiwan, us, Russia, Vietnam, India; all are looked upon with varying degrees of hostility, dislike, and contempt by China.

So what does a country with a chip on its shoulder, a lot of young unmarried men, and a lot of hardware do when those young men don’t have jobs, Jim?


15 posted on 07/08/2015 6:11:11 AM PDT by L,TOWM (Is it still too soon to start shooting? [No social transformation without representation])
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To: L,TOWM
So what does a country with a chip on its shoulder, a lot of young unmarried men, and a lot of hardware do when those young men don’t have jobs, Jim?

So, we should continue our insane, self-destructive engagement with China to prevent something worse?

Screw 'em.

16 posted on 07/08/2015 6:14:37 AM PDT by Jim Noble (Pay no attention to that man behind the curtain.)
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To: L,TOWM

China collapse equal boon to our economy.


17 posted on 07/08/2015 6:14:47 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: allendale

I though they were building the cities before forcing a lot of illegal migrants to the cities into the new cities, instead of those on the coast.


18 posted on 07/08/2015 6:16:43 AM PDT by tbw2
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To: Enlightened1

Yeah, yeah, China’s economy might collapse with worldwide effects, but what’s really important right now - for the American media and American public - is creating more transgender restrooms in this country and banning the Confederate flag.


19 posted on 07/08/2015 6:17:00 AM PDT by Steve_Seattle
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To: L,TOWM

Yes, and China has been very agressive toward neighbouring states over the last 2 years. One can see things building up.

There is also the mystery of the disappearance of that Malaysian plane, which was en route to Peking. There is some story to that, which we are not being told. Probably we might die of fright if we heard it.


20 posted on 07/08/2015 6:17:25 AM PDT by BlackVeil ('The past is never dead. It's not even past.' William Faulkner)
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