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Started By
Message
China just opened the floodgates on debt in January
Posted on 2/16/19 at 1:58 am
Posted on 2/16/19 at 1:58 am
From the South China Morning Post:
Total social financing was 676 billion USD, which means they opened the floodgates on "shadow banking" as well.
This was the last bullet in their gun, and the IMF warned them not to pull the trigger, in addition major financial houses have already down graded them because of current debt and now this, they are done, put a fork in them.
quote:
China’s loans hit all-time high as banks open floodgates in January to help slowing economy
New yuan loans reached 3.23 trillion yuan (US$476.97 billion), almost triple the amount from December
Flood of money could offer a lifeline to many indebted Chinese firms with total debt in China now close to 300 per cent of its gross domestic product
Total social financing was 676 billion USD, which means they opened the floodgates on "shadow banking" as well.
This was the last bullet in their gun, and the IMF warned them not to pull the trigger, in addition major financial houses have already down graded them because of current debt and now this, they are done, put a fork in them.
9
Posted on 2/16/19 at 3:55 am to trinidadtiger
Another feather in Trump's hat!
MAGA
MAGA Posted on 2/16/19 at 4:21 am to trinidadtiger
There was another interesting article about chinese employment. Baidu (their Google) search for jobs. March of 2015 was the highest point ever with an index of 46 until now. Nov it was 26, Dec 47, and Jan 101.
Their official unemployment was 4.9% for decades (yeah right) until recently it went to 5.3%. They dont even use their own statistical data, they now do a survey, and its only urban areas. They consider all rural citizens employed, thats right, they are all employed, nice way to fudge the numbers.
They are having huge employment numbers, couple that with the fact they are heading into deflation, not a good combination at all.
Their official unemployment was 4.9% for decades (yeah right) until recently it went to 5.3%. They dont even use their own statistical data, they now do a survey, and its only urban areas. They consider all rural citizens employed, thats right, they are all employed, nice way to fudge the numbers.
They are having huge employment numbers, couple that with the fact they are heading into deflation, not a good combination at all.
Posted on 2/16/19 at 5:34 am to trinidadtiger
China is a paper tiger. Communism never wins in the long run.
Posted on 2/16/19 at 6:17 am to trinidadtiger
What Trump's trade policy has done to China is a damning indictment of every President since Nixon. It is unbelievable how much we kowtowed to them with 0 pushback. I shudder to think how much money they've spent buying off both sides.
Posted on 2/16/19 at 6:49 am to Muthsera
quote:
What Trump's trade policy has done to China is a damning indictment of every President since Nixon. It is unbelievable how much we kowtowed to them with 0 pushback. I shudder to think how much money they've spent buying off both sides.
This is so true. And what really really irks me is you take millions in bribes AND GIVE AWAY BILLIONS IN FAVORS, cause you dont give a shat it wasnt yours anyway.
It is disgusting how easily Trump has turned this on them, just think how easy it would have been 10 or 20 years ago, before they stole trillions in IP?
Posted on 2/16/19 at 7:27 am to trinidadtiger
Put another way, in one month they loaned out as much as did in total with Obama's fabled TARP program (700 give or take a few stolen billion).
The credit situation in China is terrifying. If Trump wanted to go for the kill the could crater their economy. And then China would implode from the inside as the hungry masses went back to what people in China have been doing for millennia.
The credit situation in China is terrifying. If Trump wanted to go for the kill the could crater their economy. And then China would implode from the inside as the hungry masses went back to what people in China have been doing for millennia.
Posted on 2/16/19 at 7:49 am to UnitedFruitCompany
China steals from everyone.
Posted on 2/16/19 at 7:51 am to UnitedFruitCompany
quote:
Put another way, in one month they loaned out as much as did in total with Obama's fabled TARP program (700 give or take a few stolen billion). The credit situation in China is terrifying. If Trump wanted to go for the kill the could crater their economy. And then China would implode from the inside as the hungry masses went back to what people in China have been doing for millennia.
Yep. We're in a 'them or us' scenario. China has formerly ruled the economic world with their masses of relatively intelligent workers, and their rip off of our IP which is the base of their employment.
Posted on 2/16/19 at 7:54 am to LSUbest
quote:
Another feather in Trump's hat
Crazy concept of a private sector businessman knowing how to run our country like a business.
Posted on 2/16/19 at 8:22 am to trinidadtiger
quote:
Flood of money could offer a lifeline to many indebted Chinese firms with total debt in China now close to 300 per cent of its gross domestic product
So...the banks giving out loans is a lifeline to companies already struggling with debt?
Posted on 2/16/19 at 8:50 am to Eli Goldfinger
quote:
So...the banks giving out loans is a lifeline to companies already struggling with debt?
A large portion is refinancing, or just kicking the can down the road.
There has been a large increase in defaults this past year. There are also thousands of zombie state run companies. Inefficient companies that only exist because the govt pours money into them. But its a huge double edged sword, as they have tried to close them and save money, lots of unemployment....and a lot of disgruntled citizens.
The citizenry is not Mao pacifists, they have tasted capitalism, and they like it, now to struggle, well it aint gonna be pretty.
Option B for Xi is to start a war, ala Russia, to take the heat off domestic issues.
Posted on 2/16/19 at 9:02 am to trinidadtiger
(no message)
This post was edited on 1/19/21 at 6:21 pm
Posted on 2/16/19 at 9:15 am to tide06
Gonna be a lot of dead Chinese as they execute them for not paying their debts.
Posted on 2/16/19 at 9:23 am to Muthsera
quote:
What Trump's trade policy has done to China is a damning indictment of every President since Nixon.
You realize the chinese economy has been in shambles for a decade right?
Posted on 2/16/19 at 9:26 am to bmy
Is this the new talking point to avoid giving trump any credit?
This post was edited on 2/16/19 at 9:32 am
Posted on 2/16/19 at 9:39 am to BBONDS25
(no message)
This post was edited on 1/19/21 at 6:21 pm
Posted on 2/16/19 at 9:50 am to bmy
quote:
You realize the chinese economy has been in shambles for a decade right?
Countless IB posts and you never once mentioned this. Hmmmmmmmmmm.
I would say I'm surprised, but the anti-Trump narrative was going to be pushed by you no matter what.
Posted on 2/16/19 at 10:02 am to bmy
quote:
You realize the chinese economy has been in shambles for a decade right?
World’s 2nd most important economy != Shambles
You folks have no shame?
Posted on 2/16/19 at 10:10 am to Eli Goldfinger
quote:
World’s 2nd most important economy != Shambles
You folks have no shame?
2nd most important != healthy
With little to no effort you should be able to find decade old articles about the looming collapse of their unsustainable economy
This post was edited on 2/16/19 at 10:26 am
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