Posted on 05/24/2023 9:10:14 PM PDT by george76
Bfl
It’s a house of cards and when it falls It’s gonna be ugly.
CC
U.S. Banks are sitting on $1.7 trillion in unrealized losses at the end of 2022. The losses were nearly equal to banks’ total equity of $2.1 trillion
https://freerepublic.com/focus/f-news/4140984/posts
https://izismile.com/2009/06/29/apartment_building_fell_down_in_china_12_pics.html
hollow pilings/foundation
It’s interesting. I keep an eye on local sales near me in San Francisco, and some of you familiar with all the recent horror stories about the city might wonder what sort of buyer is still coming in and dropping $1.5 million and up on a middle-class home in S.F.. Well, the answer, in many cases, is the PRC buyer. When I see the buyer listed as “Zi Zhang Yu” or something like that, you know it’s PRC, as the local Americanized Chinese might have a name like “Charles Wong.”
Communist China builds the best quality projects like these examples... https://digg.com/video/heres-a-disturbing-supercut-of-poorly-constructed-buildings-in-china-falling-apart
Or this fine example. More video of it above: https://www.dailymail.co.uk/news/article-3566301/Pictured-Shocking-moment-outer-layer-Chinese-high-rise-building-peels-away-COLLAPSES-wind-picks-up.html
SSDD
Been hearing this since Obama was pResident.
And we will not be insulated from the fallout. The entire global economy will tank.
Maybe Black Rock can bail them out.
American companies got lured in by the shiny object of a 1.2 billion person market, but it was a mirage. The CCP just used that lure to draw in the greedy and stupid and steal their proprietary technology, and those companies that were allowed meaningful access to the Chinese market soon discovered that access came with a million strings attached. Now we’ll find out how large their market truly is as the CCP Potemkin village falls apart.
We gifted China with five decades of tech, and trading
practices.
Then it took off from there.
Kruschev, or whoever first said it had it exactly right. They
just had the wrong nation.
We sold China the rope to hang us.
Frankly, we still haven’t learned a damned thing.
I’ve seen plenty of those videos on You Tube.
The Chinese call it ‘’tofu dreg’’.
[The entire global economy will tank.]
I expect a repeat of 2008.
Which I was warning about before it happened. To deaf ears. And it turned out worse than I imagined.
Only this time it will be worse.
And yet there are still people who think that “Obama saved the economy” - I expect the next collapse to happen under Joe Biden.
China’s boom was caused by a partial return to the free market, where millions of Chinese were encouraged to use their intelligence, imagination, and drive to expand the productivity of Chinese society, in exchange for being allowed to make money.
But the Chinese middle class are now discovering that their investments have been skimmed by the Party oligarchs. This is a formula for insurrection.
Are those new buildings next to it? They look unoccupied
There’s a lot of unoccupied buildings in China, where real estate was bought for investment purposes rather than to live in it.
But many of these buildings are shoddily constructed.
As history has proven - with the soviets, cubans, Venezuela, and now the biden administration - commies don't know how to stand back and let the economy flourish.
I’d be more worried about US public pension funds.
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