Peter, this is downright exciting, and “insurmountable problem” sums it up! Here we are watching in real time as the world’s second-largest economy accelerates its complete unraveling. You can just imagine the scrambling behind the scenes in China, as local officials and bankers try to prevent from being blamed as the scapegoat, and financially ruined in the process. Suppose you are a banker, being pressured by all-powerful Authorities to bail out billions of dollars of really bad loans. If you do so, your bank will take a huge loss and YOU will get the blame - ruined! If you refuse to lead your bank into financial destruction, the Authorities will literally take you to prison, and vilify you - ruined! The upper classes of China are probably scheming ways to get their families and wealth out of the country as fast as they can. (This is what happened in Venezuela, by the way, as the country accelerated to economic ruin - those who could, got out!)
Another thing that astounds me is that the average American has no idea this unraveling is happening. The MSM is busy giving Americans fluff news about which pop star is dating which athlete - while epic, historic changes are happening in countries like China and Argentina. I am indebted to you, Peter, for succinctly giving us all the hard data and details which make us actually informed and able to truly understand. Once again, thank you!
Off topic: another kangaroo-court anti-Navarro ruling - he has to report to jail in just a few days!
https://www.theepochtimes.com/us/appeals-court-denies-peter-navarros-bid-to-delay-jail-term-5607524?utm_source=ref_share&utm_campaign=copy
Peter, this is downright exciting, and “insurmountable problem” sums it up! Here we are watching in real time as the world’s second-largest economy accelerates its complete unraveling. You can just imagine the scrambling behind the scenes in China, as local officials and bankers try to prevent from being blamed as the scapegoat, and financially ruined in the process. Suppose you are a banker, being pressured by all-powerful Authorities to bail out billions of dollars of really bad loans. If you do so, your bank will take a huge loss and YOU will get the blame - ruined! If you refuse to lead your bank into financial destruction, the Authorities will literally take you to prison, and vilify you - ruined! The upper classes of China are probably scheming ways to get their families and wealth out of the country as fast as they can. (This is what happened in Venezuela, by the way, as the country accelerated to economic ruin - those who could, got out!)
Another thing that astounds me is that the average American has no idea this unraveling is happening. The MSM is busy giving Americans fluff news about which pop star is dating which athlete - while epic, historic changes are happening in countries like China and Argentina. I am indebted to you, Peter, for succinctly giving us all the hard data and details which make us actually informed and able to truly understand. Once again, thank you!
China needs to consult the 'experts' in the Biden Administration.
How are all those prepayments looking? China will be at war with itself.