Commissar SFLUFAN Posted September 21, 2021 Share Posted September 21, 2021 The global economy could feel the effects of China's Evergrande crisis. Here's what investors should know WWW.CNBC.COM Strategists do not now expect financial contagion from the crisis at a large Chinese property developer, but they do say there could be economic impact. Quote A liquidity crisis at a large Chinese property developer has shaken global markets, and strategists say it could send ripples across the global economy. But they also say the issue will likely be contained by the Chinese government before it wreaks damage in the banking system, and it is not expected to lead to a broader global financial contagion. The critical question for investors is how and when do leaders in Beijing handle the situation and whether they launch a restructuring of China Evergrande Group, as many market pros expect. Evergrande Gave Workers a Choice: Lend Us Cash or Lose Your Bonus - The New York Times WWW.NYTIMES.COM The Chinese property giant owes $300 billion and is on the hook for as many as 1.6 million apartments. It may owe tens of thousands of its employees money, too. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 21, 2021 Author Share Posted September 21, 2021 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 21, 2021 Author Share Posted September 21, 2021 You know who would NEVER have allowed this to happen?!?! 1 Quote Link to comment Share on other sites More sharing options...
Jason Posted September 21, 2021 Share Posted September 21, 2021 It tanked both the stock market and crypto. 1 Quote Link to comment Share on other sites More sharing options...
Littleronin Posted September 21, 2021 Share Posted September 21, 2021 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 21, 2021 Author Share Posted September 21, 2021 China will probably nationalize the company, execute its management/executives, and send a bill for the bullet to their families. 2 Quote Link to comment Share on other sites More sharing options...
Ghost_MH Posted September 21, 2021 Share Posted September 21, 2021 4 minutes ago, Commissar SFLUFAN said: China will probably nationalize the company, execute its management/executives, and send a bill for the bullet to their families. And here in the States, we'd give them a cash payment, allow management/executives to receive their full bonuses, and send the bill to tax payers. I'm not saying we need to execute bankrupt executives, but we do have prime real estate in tropical Cuba. Quote Link to comment Share on other sites More sharing options...
Ricofoley Posted September 21, 2021 Share Posted September 21, 2021 Somewhat ominous stat here Quote Link to comment Share on other sites More sharing options...
Brian Posted September 21, 2021 Share Posted September 21, 2021 Winnie will protect us Quote Link to comment Share on other sites More sharing options...
mclumber1 Posted September 21, 2021 Share Posted September 21, 2021 56 minutes ago, Commissar SFLUFAN said: You know who would NEVER have allowed this to happen?!?! There is no housing crisis if you kill a large percentage of your population through sheer idiocy! Quote Link to comment Share on other sites More sharing options...
Zaku3 Posted September 21, 2021 Share Posted September 21, 2021 1 hour ago, Commissar SFLUFAN said: You know who would NEVER have allowed this to happen?!?! As a socialist China confuses me. I want to write them off as a quasi-state/market captialist society. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 21, 2021 Author Share Posted September 21, 2021 3 minutes ago, Zaku3 said: As a socialist China confuses me. I want to write them off as a quasi-state/market captialist society. There is nothing to be confused about: the PRC is a "state capitalist" society. Quote Link to comment Share on other sites More sharing options...
mclumber1 Posted September 21, 2021 Share Posted September 21, 2021 The PRC is just another example of why communism, even in the perverted Chinese form, is a failure. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted September 21, 2021 Share Posted September 21, 2021 54 minutes ago, Commissar SFLUFAN said: There is nothing to be confused about: the PRC is a "state capitalist" society. I believe you once said that the prc is the perfect fascist state ever conceived and I always think of that Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 21, 2021 Author Share Posted September 21, 2021 10 minutes ago, b_m_b_m_b_m said: I believe you once said that the prc is the perfect fascist state ever conceived and I always think of that And I absolutely stand by that description! Quote Link to comment Share on other sites More sharing options...
Signifyin(g)Monkey Posted September 21, 2021 Share Posted September 21, 2021 Honestly, there’s a good chance this doesn’t end up being much more than a hiccup for the Chinese. The setup there is very different and the state is already heavily involved in companies like this. They will probably undertake some reform program to straighten out its books and use government money to forgive/cancel/make whole any debts that might cause a ‘crisis’. The key difference is that a massive proportion of the real estate market in China is de facto owned by the state, and the big property holdings that are private are managed partially by the party via party members who ‘monitor’ the property-holding entity’s activities. This was not the case in Japan and the US when they had their real estate bubble, and everything was privately owned. This setup has its own set of problems, (what happens when the bureaucrats in charge are incompetent?) but it does reduce the danger of ‘contagion’ from a bankruptcy like this leading to a debt crisis. We definitely shouldn’t view an event like this through the lens of Western finance; it would be a very distortionary lens. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted September 21, 2021 Share Posted September 21, 2021 10 hours ago, Ghost_MH said: I'm not saying we need to execute bankrupt executives I am. Quote Link to comment Share on other sites More sharing options...
brucoe Posted September 21, 2021 Share Posted September 21, 2021 They could easily solve this problem by just opening up an Only Fans account..... 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted September 24, 2021 Author Share Posted September 24, 2021 As expected, they missed the payment and have now entered a 30-day grace period. ‘Eerie silence’ as Evergrande misses payment deadline | China | The Guardian WWW.THEGUARDIAN.COM As debt-laden Chinese property giant enters 30-day grace period, officials look to limit unrest and job losses Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted September 24, 2021 Share Posted September 24, 2021 Is it run by Trump Org? Quote Link to comment Share on other sites More sharing options...
CayceG Posted September 24, 2021 Share Posted September 24, 2021 I'm hoping this doesn't affect the US markets, because I'm about to refinance my house. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted September 24, 2021 Share Posted September 24, 2021 48 minutes ago, CayceG said: I'm hoping this doesn't affect the US markets, because I'm about to refinance my house. Lock in that rate, I just bought at 2.85% 30yr fixed, no points @Ominous Quote Link to comment Share on other sites More sharing options...
CayceG Posted September 24, 2021 Share Posted September 24, 2021 54 minutes ago, SuperSpreader said: Lock in that rate, I just bought at 2.85% 30yr fixed, no points @Ominous I've been quoted low 2's for a 15 yr on my remaining principal. Might get on that next week. Paying my house off by age 50 would be pretty rad. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted September 24, 2021 Share Posted September 24, 2021 I got my FHA loan refinanced at 2.5 1 Quote Link to comment Share on other sites More sharing options...
Guest Posted September 24, 2021 Share Posted September 24, 2021 Anything in the 2s considering historical inflation is close a 0% real interest rate, so go with God my children. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted September 24, 2021 Share Posted September 24, 2021 My mortgage is 1.4%, bitcheeeeeessss Quote Link to comment Share on other sites More sharing options...
CayceG Posted September 24, 2021 Share Posted September 24, 2021 12 minutes ago, CitizenVectron said: My mortgage is 1.4%, bitcheeeeeessss That's Canada percentages. That's like 2.5% in real percentages. 3 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted September 24, 2021 Share Posted September 24, 2021 Refinanced recently. 2.6%. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted September 24, 2021 Share Posted September 24, 2021 2 hours ago, sblfilms said: Anything in the 2s considering historical inflation is close a 0% real interest rate, so go with God my children. Why do you think I don't fear inflation, but welcome it?! Quote Link to comment Share on other sites More sharing options...
Anathema- Posted September 24, 2021 Share Posted September 24, 2021 I got 3% which I'm pretty satisfied with, considering my credit history (okay but not great). Quote Link to comment Share on other sites More sharing options...
Ominous Posted September 24, 2021 Share Posted September 24, 2021 7 hours ago, SuperSpreader said: Lock in that rate, I just bought at 2.85% 30yr fixed, no points @Ominous We saw an increase yesterday. I did 30 year 2.5 no costs last year. Quote Link to comment Share on other sites More sharing options...
Ominous Posted September 24, 2021 Share Posted September 24, 2021 6 hours ago, CayceG said: I've been quoted low 2's for a 15 yr on my remaining principal. Might get on that next week. Paying my house off by age 50 would be pretty rad. Do the 30, pay more when you can. Quote Link to comment Share on other sites More sharing options...
SimpleG Posted September 24, 2021 Share Posted September 24, 2021 2 minutes ago, Ominous said: Do the 30, pay more when you can. Why ? And I am asking sincerely cause I don't know and I know you know this shit well. Quote Link to comment Share on other sites More sharing options...
mclumber1 Posted September 24, 2021 Share Posted September 24, 2021 I'm at 2.99%. I was recently offered a lower rate from my lender, but the closing costs would mean I wouldn't recoup until at least 2 years from the time I refinance. Since we don't know if we will be in this particular home in 2 years, we are not sure if it was really worth doing it. Quote Link to comment Share on other sites More sharing options...
CayceG Posted September 25, 2021 Share Posted September 25, 2021 57 minutes ago, Ominous said: Do the 30, pay more when you can. I'm interested in why here. I'm not going anywhere any time soon, and I figure the 15 year at the lower rate is going to let me pay off sooner and save more. Quote Link to comment Share on other sites More sharing options...
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