Chinese Evergrande Defaulted

[MegaFan]

Reuters Update 11/10 - 9:13 PM - Cash-strapped developer China Evergrande Group once again averted a destabilizing default with a last minute bond payment on overdue interest...

Evergrande has payments totaling more than $255 million due on Dec. 28...

Ticking time bomb!

 

[Grdbreaker]

But that company is like 3% of the Chinese market, which is clearly propped up by the communist government (like the ghost towns). When 2008 happened here we didn’t crash Japan’s market or many of those in Europe. Yeah it’s connected but I would bet you 50 yuan this doesn’t become a huge ripple. The Us markets know this was coming and already priced it in

Priced it in AKA printer go brrppppp.......

 

[steviesterno]

Priced it in AKA printer go brrppppp.......

yes but also no. I'm learning more about the stock market, and from what I can tell, the market (if not ****ed with, haha) prices in events. So the expanding energy costs, labor shortages, etc are all basically already accounted for once they become likely to happen. by the time the word trickles down to common investors, the institutional guys have known and prices have moved to account for it.

Just like with inflation. We all know it's currently a ****show and the markets are overall high as ****. That's partially propping up, partially because the rich are rich cause their money is in the market, not in milsurps and silver coins in a dank basement. So there's much less incentive to "crash the market" than we may believe.

 

[Tillybell]

Will this affect the U.S.?

Yes, though to what degree I'm not certain.

What will be important to watch is if this starts a landslide of economic collapse in China. If China goes BOOM and falls in on itself, then we're in for some serious chaos.

 

[rightway1974]

I’m hoping for a repeat of 2008. Should of already happened.

 

[Glock 21]

yes but also no. I'm learning more about the stock market, and from what I can tell, the market (if not ****ed with, haha) prices in events. So the expanding energy costs, labor shortages, etc are all basically already accounted for once they become likely to happen. by the time the word trickles down to common investors, the institutional guys have known and prices have moved to account for it.

Just like with inflation. We all know it's currently a ****show and the markets are overall high as ****. That's partially propping up, partially because the rich are rich cause their money is in the market, not in milsurps and silver coins in a dank basement. So there's much less incentive to "crash the market" than we may believe.

The market is rigged to the bull side that’s why stonks only go up.

 

[steviesterno]

The market is rigged to the bull side that’s why stonks only go up.

mine haven't this year

but yeah I think it is manipulated. but I'm also thinking it's about the only way us "regular" guys can make money like the rich

 

[WinstonSmith]

Let the ripple effect begin

 

[Trailrider]

I’m hoping for a repeat of 2008. Should of already happened.

Same. I've been saving cash and holding off on purchasing a new house just so I can scoop up a good deal when it all tanks again. My current home is "technically" worth almost $50-60k more than what I bought it for in 2012. Thought about selling it too but I don't want to rent or move while we're waiting to buy another.

 

[fastfish66]

Same. I've been saving cash and holding off on purchasing a new house just so I can scoop up a good deal when it all tanks again. My current home is "technically" worth almost $50-60k more than what I bought it for in 2012. Thought about selling it too but I don't want to rent or move while we're waiting to buy another.

Cash will be useless when the crash happens.