China faces $800 billion in non-standard debt defaults; Banks struggle with liquidity.

Citizen Watch Report ^

[voicereason]

I read the the other day that the Chicoms have some 10 million mostly finished luxury homes that are ghost towns...

One big issue with China is that NO ONE can own land except the government. Even the high rises are on long-term leases, typically 20-70 years. A person or business can own the building on top of that land, but the land is government owned.

The one rule to follow with China is, "If the news is good, ratchet it down a notch or two. And if the news is bad, you can ratchet it up 3-4 notches."

If there is bad news coming out of China, you can bet the problem is much worse.

[dfwgator]

One big issue with China is that NO ONE can own land except the government.

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If you think here the government doesn’t own the land, try and not pay your property tax bill.