Author Topic: Is there a Global Crisis on its way?  (Read 3870 times)

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Offline morekaos

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Re: Is there a Global Crisis on its way?
« Reply #15 on: October 19, 2021, 11:22:22 AM »
They're having their own S&L Crisis...that was fun here for those of you who were in the game in the mid 90's.

Offline nosuchreality

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Re: Is there a Global Crisis on its way?
« Reply #16 on: October 19, 2021, 12:52:39 PM »
They're having their own S&L Crisis...that was fun here for those of you who were in the game in the mid 90's.

That was started in the 80s, deregulation, junk bonds and LBOs. 

Mr. M is doing fine, lots of wage slaves, not so much.


Offline morekaos

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Re: Is there a Global Crisis on its way?
« Reply #17 on: October 19, 2021, 03:39:03 PM »
I loved that period of time. Earned my first bundle after the crash of ‘87. Bought my first yacht in 1990. Bought my first house in 1997. Right at the bottom.

Offline USCTrojanCPA

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Re: Is there a Global Crisis on its way?
« Reply #18 on: October 19, 2021, 06:13:28 PM »
Meh, if we can patch up Long Term Capital, Goldman, BofA, Wells, Merrill, United, GM,  China can patch up theirs too.

It’s a giant house of cards of paper money of Wimpy hamburger IOUs for Next Tuesday.

As long as the wage slaves keep grinding it out every day for a shiny new cell phone, a fast food lunch and a place to sleep, it’ll march.

Seems like the noise is a lot of wage slaves are checking out.

Just like the FED can keep kicking the can down the road forever so can the Chinese gov't, nothing to see here.
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Offline eyephone

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Re: Is there a Global Crisis on its way?
« Reply #19 on: October 20, 2021, 11:25:56 AM »
Meh, if we can patch up Long Term Capital, Goldman, BofA, Wells, Merrill, United, GM,  China can patch up theirs too.

It’s a giant house of cards of paper money of Wimpy hamburger IOUs for Next Tuesday.

As long as the wage slaves keep grinding it out every day for a shiny new cell phone, a fast food lunch and a place to sleep, it’ll march.

Seems like the noise is a lot of wage slaves are checking out.

Just like the FED can keep kicking the can down the road forever so can the Chinese gov't, nothing to see here.

Nothing to see?
Almost the same response from a famous analyst when a caller asked about bear stearns liquidity.

Offline Liar Loan

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Re: Is there a Global Crisis on its way?
« Reply #20 on: October 20, 2021, 12:30:27 PM »
Meh, if we can patch up Long Term Capital, Goldman, BofA, Wells, Merrill, United, GM,  China can patch up theirs too.

It’s a giant house of cards of paper money of Wimpy hamburger IOUs for Next Tuesday.

As long as the wage slaves keep grinding it out every day for a shiny new cell phone, a fast food lunch and a place to sleep, it’ll march.

Seems like the noise is a lot of wage slaves are checking out.

Just like the FED can keep kicking the can down the road forever so can the Chinese gov't, nothing to see here.

Forever is a very long time. 

A new report today shows Chinese home prices are declining in what for them, is the hottest home buying season.  When 25% of GDP is tied to that one industry, it could be a sign of worse things to come.

Offline USCTrojanCPA

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Re: Is there a Global Crisis on its way?
« Reply #21 on: October 20, 2021, 01:39:01 PM »
Meh, if we can patch up Long Term Capital, Goldman, BofA, Wells, Merrill, United, GM,  China can patch up theirs too.

It’s a giant house of cards of paper money of Wimpy hamburger IOUs for Next Tuesday.

As long as the wage slaves keep grinding it out every day for a shiny new cell phone, a fast food lunch and a place to sleep, it’ll march.

Seems like the noise is a lot of wage slaves are checking out.

Just like the FED can keep kicking the can down the road forever so can the Chinese gov't, nothing to see here.

Forever is a very long time. 

A new report today shows Chinese home prices are declining in what for them, is the hottest home buying season.  When 25% of GDP is tied to that one industry, it could be a sign of worse things to come.

Ok, let me rephrase....the FED and the Chinese gov't can kick the can down the road longer than any one of us will be alive. 
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Offline morekaos

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Re: Is there a Global Crisis on its way?
« Reply #22 on: October 20, 2021, 08:16:36 PM »
Well, do they have enough fingers to stick in the dyke?

Evergrande is ‘just the beginning’: Professor says more firms must exit China’s property sector


China’s real estate sector has to be “substantially smaller” to keep the overall economy healthy and stable, said Li Gan, economics professor at Texas A&M University.
“We have too big of a risk in the sector. We built too much housing, so the stabilization first has to come [from] trimming the sector,” said Gan.
Gan estimated that about 20% of China’s housing stock is left vacant, yet developers continue to build millions of new units each year.

https://www.cnbc.com/2021/10/21/china-economy-property-sector-must-shrink-to-be-stable-says-prof.html?


China Evergrande shares briefly plunge more than 10%, after $2.6 billion asset sale falls through


Offline zubs

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Re: Is there a Global Crisis on its way?
« Reply #23 on: October 21, 2021, 10:39:42 AM »
Everytime you think shits about to get real, something like this happens:
https://www.yahoo.com/finance/news/china-evergrande-shares-set-slide-012744967.html

A bond extension when they were suppose to go into default OCT 23.

The can will be kicked forever much like USA.


So when we play with stocks or real estate, we are just betting on government interventions. 

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Offline sleepy5136

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Re: Is there a Global Crisis on its way?
« Reply #24 on: October 24, 2021, 11:35:48 PM »
HSBC had earnings and killed it. No direct impact from evergrande. So BlackRock and HSBC being the international banks both mentioned little to no exposure.

https://twitter.com/emilycnbc/status/1452496257071550471?s=21

Offline morekaos

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Re: Is there a Global Crisis on its way?
« Reply #25 on: October 26, 2021, 09:46:37 AM »
Well thats one way to plug the dyke that we don't really have here...force the guy to cover his bets... ;D ;D >:D

China urges Evergrande founder to pay debt with personal wealth — sources


BEIJING (Oct 26): Chinese authorities have told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group's deepening debt crisis, according to people familiar with the matter.

Beijing's directive to the Evergrande founder came after his company missed an initial Sept 23 deadline for a coupon payment on a dollar bond, said the people, asking not to be identified discussing a private matter. Local governments across China are monitoring Evergrande's bank accounts to ensure company cash is used to complete unfinished housing projects and not diverted to pay creditors, the people said.

The demand that Hui tap his own fortune to pay Evergrande's debt adds to signs that Beijing is reluctant to orchestrate a government rescue, even as the property giant's crisis spreads to other developers and sours sentiment in the real estate market. Chinese President Xi Jinping has been cracking down on the billionaire class as part of his "common prosperity" campaign to reduce the country's yawning wealth gap.

It is unclear whether Hui's fortune is big and liquid enough to make a sizeable dent in Evergrande's liabilities, which swelled to more than US$300 billion as of June. The developer's dollar bonds are trading at deep discounts to par value as investors brace for what could be one of China's largest-ever debt restructurings.

https://maa.theedgemarkets.com/article/china-urges-evergrande-founder-pay-debt-personal-wealth-%E2%80%94-sources

Offline eyephone

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Natural gas prices are skyrocketing around the world.
« Reply #26 on: October 27, 2021, 10:13:20 AM »
CNBC: Natural gas prices are skyrocketing around the world.

Natural gas and power prices in Europe and Asia are at record highs, while U.S. prices have doubled this year.

Multiple factors have contributed to the energy crunch, including demand bouncing back while supply remains constrained.

https://www.cnbc.com/2021/10/08/natural-gas-prices-are-skyrocketing-globally-what-it-means-for-the-us.html

Offline eyephone

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Re: Is there a Global Crisis on its way?
« Reply #27 on: October 27, 2021, 10:18:42 AM »
CNBC: Empty shelves, gasoline shortages and sky-high energy prices? Britain is facing a ‘difficult winter’

Britain has been plunged into uncertainty as issues over gasoline, electricity and food have prompted warnings of "a really difficult winter" for the country.
A significant lack of truck drivers has meant deliveries of fuel and goods have fallen short.

https://www.cnbc.com/2021/09/24/empty-shelves-and-gasoline-shortages-uk-facing-a-difficult-winter.html



Offline sleepy5136

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Re: Is there a Global Crisis on its way?
« Reply #28 on: October 28, 2021, 11:37:31 AM »
CNBC: Empty shelves, gasoline shortages and sky-high energy prices? Britain is facing a ‘difficult winter’

Britain has been plunged into uncertainty as issues over gasoline, electricity and food have prompted warnings of "a really difficult winter" for the country.
A significant lack of truck drivers has meant deliveries of fuel and goods have fallen short.

https://www.cnbc.com/2021/09/24/empty-shelves-and-gasoline-shortages-uk-facing-a-difficult-winter.html
Empty shelves on what items though? PS5? graphic cards? My day to day items that I am buying at Costco is never out of stock. If we are missing day to day items not being in shelves I think that could be a potential issue going forward but that is not the case.

Oil prices have ticked down lately and I think sky high is a bit exaggerated. Don't think these issues would cause a global crisis..

Offline sleepy5136

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Re: Is there a Global Crisis on its way?
« Reply #29 on: October 28, 2021, 11:39:21 AM »
Well thats one way to plug the dyke that we don't really have here...force the guy to cover his bets... ;D ;D >:D

China urges Evergrande founder to pay debt with personal wealth — sources


BEIJING (Oct 26): Chinese authorities have told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group's deepening debt crisis, according to people familiar with the matter.

Beijing's directive to the Evergrande founder came after his company missed an initial Sept 23 deadline for a coupon payment on a dollar bond, said the people, asking not to be identified discussing a private matter. Local governments across China are monitoring Evergrande's bank accounts to ensure company cash is used to complete unfinished housing projects and not diverted to pay creditors, the people said.

The demand that Hui tap his own fortune to pay Evergrande's debt adds to signs that Beijing is reluctant to orchestrate a government rescue, even as the property giant's crisis spreads to other developers and sours sentiment in the real estate market. Chinese President Xi Jinping has been cracking down on the billionaire class as part of his "common prosperity" campaign to reduce the country's yawning wealth gap.

It is unclear whether Hui's fortune is big and liquid enough to make a sizeable dent in Evergrande's liabilities, which swelled to more than US$300 billion as of June. The developer's dollar bonds are trading at deep discounts to par value as investors brace for what could be one of China's largest-ever debt restructurings.

https://maa.theedgemarkets.com/article/china-urges-evergrande-founder-pay-debt-personal-wealth-%E2%80%94-sources
Wow, I actually agree with China on this.

 

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