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The Financial Heist Is Its Faith, A Religion Of Greed

A weekend topic starting with Bloomberg. “Disgruntled China Evergrande Group customers staged a protest in Guangzhou demanding that the cash-strapped developer restart stalled construction work and urging the local government to intervene. More than 100 home buyers in white T-shirts emblazoned with the phrase ‘Resume construction, Evergrande’ lined up before the housing bureau of the city’s Nansha district on Thursday, according to people who attended the protest and asked not to be named because of fear of retribution. They said the building of units they purchased in Evergrande Peninsula, a project of almost 5,000 apartments, has been halted since May.”

“Evergrande owed a record 951.1 billion yuan (S$198 billion) in trade and other payables to suppliers as at June, an earnings report showed last month. It had received down payments on yet-to-be-completed properties from more than 1.5 million home buyers as at December.”

The World Socialist Web Site. “The Chinese bond market and its financial system more broadly is coming under increasing pressure because of the crisis at Evergrande, one of the country’s largest property developers, with potential flow-on effects for international markets. The situation has gone from bad to worse. The company is engaged in a desperate scramble to sell off assets and raise cash while warning it faces the risk of default on bonds that are about to fall due.”

“In its report on the crisis the Financial Times warned that a default, exposing the perilous state of China’s property market, would be a ‘debacle that could cascade across global markets.’ Evergrande is not the only property developer experiencing major problems. This week the bonds of Guangzhou fell by more than 20 percent in a single day and are now trading at 60 percent of their face value. The plunge came after Moody’s downgraded its credit rating and warned about the company’s ability to refinance itself. Fantasia, another property developer, is also in financial difficulty and told the Hong Kong stock exchange earlier this week it had made purchases of $6 million of its own bonds.”

“The tightening of restrictions by the Xi Jinping regime is being conducted under the banner ‘housing is for living, not for speculation.’ But having promoted the very speculation that it is now seeking to curb the government is caught in a trap of its own making. Its efforts to reduce speculation threaten to stifle one of key engines of Chinese economic growth over the past period. Developers are reported to have sold 21 percent fewer homes in August compared to a year before. The extent of the housing boom is reflected in the rise of household borrowing which is now 62 percent of gross domestic product compared to 44 percent just five years ago.”

“A comment by Australian Financial Review columnist Karen Maley drew attention to the international ramifications of the Evergrande crisis. Foreign investors were becoming ‘fretful’ that Beijing was preparing to separate out Evergrande’s real estate arm from any rescue operation, leaving the holding company, in which they are heavily invested, with the debt. This would mean they would incur substantial losses.”

“Consequently, they are ‘stampeding towards the exits’ and seeking to sell off their bonds. As she noted, the problem for Beijing is that ‘while it may be able to limit the damage that an Evergrande default inflicts on the local economy, it is powerless to limit the impact of the country’s $12 billion bond market.'”

The Epoch Times. “Beijing’s crackdown on celebrities in the entertainment industry has resulted in Chinese social media such as Weibo, as well as major film and television websites, removing relevant content of the purged artists. Chinese film producer Shi Yuge (a former democracy protester now living in the United States under political asylum) told The Epoch Times about the chaotic political factions behind the purging of the entertainment industry.”

“Shi explained that it started when former CCP (Chinese Communist Party) leader Jiang Zemin encouraged Chinese princelings (children of CCP founding cadres and veterans of the Red Army) to engage in entertainment industries, despite it being criticized for ‘bringing down morality and involving pornography’ at the time. Jiang believed that it was beneficial in order for the CCP to control the industry.”

“‘When I was in Beijing [2013–2015], my friends chatted about the number of studios established by students in the Beijing entertainment circle for those two years. There were about 700 or 800 studios, and half of them were owned by the princelings,’ Shi said. Shi also disclosed that studios like these are often involved in money laundering for the princelings, who receive various benefits that must be whitewashed through various channels at the end of the day. It is ‘a consensus in the circle,’ Shi added.”

“Shi said, ‘The CCP is really short on cash … so it calls for common prosperity, which is in fact the same policy of ‘dividing the land with local tyrants’ that was implemented in the Mao era.’ ‘Targeting those who are very wealthy and influential is a characteristic of dictatorships,’ Shi added. ‘In many cases, when the regime cannot solve a certain problem from the root, it goes after the people who supposedly raised the problem. Once the people disappear, it is believed the problem will also disappear. This is the habitual practice of the CCP and the current situation in China.'”

The Globe and Mail. “China’s government on Wednesday summoned gaming firms including Tencent Holdings Ltd. and NetEase Inc. to ensure they implement new rules for the sector. It also said it would crack down on illegal behaviour in the ride-hailing industry. Gaming firms were told by the government on Wednesday to implement measures such as curbing minors’ hours of access to their video games to protect their physical and mental health, the official Xinhua news agency reported.”

“Those that are found to have ‘inadequately’ implemented the regulations will be severely punished, it said, adding that the firms present were also asked to resist engaging in improper competition and should instead focus on driving innovation.”

“Meanwhile, the Cyberspace Administration of China said it has shut down and banned 1,793 so-called self-media accounts on online platforms since Aug. 27, when it announced a probe into the illegal release of financial information and badmouthing of financial markets. The term ‘self-media’ is mostly used describe independently operated accounts that produce original content but are not officially registered with the authorities.”

“The accounts closed include three with more than a million followers, while more than 47,000 pieces of ‘harmful information’ have been cleaned up, the administration added.”

From Asia News. “From the outside they look like a dozen square buildings, residential complexes for Cambodian or foreign workers. In reality, the China Project hosts 8,000 to 10,000 slaves, people recruited by deception, held prisoner and forced to commit Internet fraud. ‘Every Chinese person who spends more than a couple of months in Sihanoukville knows about it. They call it China City,’ an anonymous source told the Khmer Times.”

“A group of entrepreneurs who bought the entire area after Cambodian Prime Minister Hun Sen banned gambling in 2019 is behind the crime syndicate. After Chinese President Xi Jinping launched his mega infrastructure project, the Belt and Road Initiative (BRI), Western tourists were thrown out to make room for the Chinese. Signs in Khmer and English have disappeared, replaced by signs in Mandarin. Hotels, restaurants and casinos now form many small Chinatowns.”

“China also provided aid to modernise Cambodia’s military. Perhaps this is why China Project bosses can act undisturbed. ‘China City is the worst of the worst,’ the source told the Khmer Times. ‘They are protected by the police. The only reason the cops will go in there is a strong tip-off about drugs. It’s a very clear line in the sand,’ he added.”

“According to the Cambodian newspaper, most slaves are Chinese, but many come from Southeast Asia. Scammed with fake job offers, their passport seized, taught how to create realistic social profiles to trick people into investing in fake cryptocurrencies, they are groomed to engage in criminal behaviour. Whoever gets to turn social media interactions into WhatsApp or WeChat contacts gets a reward, such as having sex with East European women, who are also held prisoner.”

The Khmer Times. “Multiple sources reached out to this newspaper to report instances of abuse at the hands of enforcers at the location believed to be housing at least 8,000 people – most of whom are Chinese nationals. Each had varying experiences working for companies located at the 10-building complex. They claimed to have been taken hostage, beaten, starved, isolated, extorted, sexually abused, trafficked and stripped of their basic human dignity.”

“The spouse of one victim described an incident when a busload of people illegally crossed the border from Vietnam and now they are in captivity. If true, this suggests the organisations are complicit in trans-national human trafficking. Some people have been freed since reports of the crimes surfaced last month. An unknown number of individuals, believed mostly to be Bangladeshi nationals, have been sold to other companies in the complex or relocated to other buildings.”

“An officer whose name has been withheld thanked Khmer Times for its coverage of the crimes and offered additional information. Deaths occurs almost every other week at The China Project. Officials have difficulty differentiating murders from suicides. Some corpses have messages written on their arms informing individuals that their death was not a suicide. Others have scratches on their bodies indicating they were made in self-defence.”

“The China-Cambodia Law Enforcement Cooperation Office officials told Khmer Times that similar activities are also rampant in several neighbouring countries such as Myanmar, Philippines and Indonesia and each have a task force working hard to crackdown and put an end to this blood money business.”

From Radio Free Asia. “China is facing a population crisis of increasing urgency, with 149 cities shown in recent census figures to have 14 percent of their residents over the age of 65. A recent analysis by the state-run China Business News (CBN) found that 149 cities in China have now entered ‘deep aging,’ the middle state on a spectrum that runs from aging, where more than seven percent are over 65, to super-aging, when more than 20 percent is over that age.”

“The fastest-aging cities are mostly clustered around the Yangtze River, the southwestern cities of Chongqing and Chengdu, and the urban industrial northeast, the report said. Seven provinces have 10 or more deep-aging cities, CBN said, with Sichuan at the top of the table, closely followed by Shandong. Similar situations were found to exist in Hunan, Anhui, and Hubei in the middle reaches of the Yangtze River, with 12 cities in Hunan and Anhui experiencing deep aging, and nine in Hubei.”

“Yi Fuxian, a senior researcher at the University of Wisconsin-Madison and an expert on Chinese population issues, has been tracking population changes in China for some time, and regards official statistics as highly dubious. ‘The real rate of aging in China is much more serious than current announcements suggest,’ Yi told RFA. ‘But even the current published figures are very serious,’ he said. ‘The first thing is it is causing a slowdown in economic growth.'”

“Yi said he predicted the slowdown in economic growth in China from 2012. ‘Economic growth averaged 10 percent prior to 2011, and by 2019, it was only six percent,’ Yi said. ‘China’s demographic structure is about where Japan’s was in 1992. By 2035, it will be roughly where’s Japan’s population structure was in 2018.'”

“He said that people’s consumption patterns become more conservative with age, and the lack of access to universal pensions, debt crises among local governments and a likely burst real estate bubble would make life much tougher. According to Yi, the current situation in northeastern China will gradually become apparent across the whole of China.”

“Wen Guanzhong, professor emeritus of the Department of Economics at Trinity College in the United States, agreed. ‘Relying on cheap labor, producing labor-intensive products, and exporting a large number of products will no longer be possible,’ Wen told RFA. ‘An upgrade [of industrial activity] will be needed, but it needs to be a technological upgrade,’ he said. ‘Now that China has broken off ties with some developed countries, it will find it harder to source technology and innovate independently.'”

The Last Futurist. “China’s debt crisis is most likely to begin if and when Evergrande defaults and collapses, which has historically been less likely to occur due to it being a State-backed private company. However with Chinese regulation in real estate, it’s more likely to occur in the coming months. In the summer of 2021, financial regulators in Beijing told China Evergrande Group to resolve its debt problems and refrain from spreading ‘untrue’ information, issuing a rare public rebuke of the developer as it struggles to stave off a liquidity crisis.”

“The problem is Evergrande is one of the key companies in China’s only way for the working class to invest properly that is in real estate. But with a vacancy rate that’s too high, less people migrating to the cities, and those who are now often too old to make it there, the China real estate bubble shows signs of popping.”

“While China has managed to regulate its housing market to avoid a crash of the bubble, nothing goes up forever. China’s pressure to show unending growth or ‘common prosperity’ for the only mechanism that its consumer spending trusts — i.e. the only investment that works in China — will eventually cause the housing bubble to crash and it will be spectacular for the Global GDP, due to the Chinese consumer having so much weight.”

“The default of Evergrande is inevitable but it could even lead to many banks failing that are dependent on mortgages. And in a worse case scenario it could lead to a housing debt crisis the likes of which China hasn’t seen. Then millions of Chinese ‘investors’ in a 2nd or 3rd house they will never live in or even rent (because who rents in China?), will be stuck holding the bag. This may be the one of the greatest systemic risks to the macro global economy for late 2021 and 2022.”

“Remember, the Chinese can be very frugal just to own more homes. Homes that will never be lived in with imaginary migrants that are no longer coming to some of those ghost towns or expensive tier 1 cities very few can even afford to live in. The situation isn’t just not sustainable, it’s become a path to the potential collapse of China’s economic system.”

“If China has no religion, the financial heist is its faith, and China’s obsession with owning multiple homes (to the exclusion of other consumer goods) has a grave social cost for the next generations. It’s a disease that is economically unsustainable and essentially a religion of greed. When you understand the real estate motivations of the common people seeking ‘common prosperity’ you understand why young people are ‘laying flat’. It’s such a scam of a lifetime of labor it’s unbelievable and shocking in its level of corruption. This is a system flawed with problematic incentives of how capital is spent (and wasted) due to the illusion of never-ending growth (basically a lie the State tells its people).”

“China’s population will be dramatically lower in the future and it will be full of ghost cities of empty castles in the sky. Oh, the faithful to the cult of real-estate scam. You can extinguish religions and cults, but what if the Chinese State is just another kind of belief system? Ever grand, until it’s not. These are dangerous times for China’s economy and demographic implosion impacting its consumer spend that appears inevitable in the years and decades ahead.”

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This Post Has 89 Comments

  1. I realize this is too long but I felt it was important. I didn’t post the gruesome details out of Cambodia, etc, but you can read it if you like and see what we are dealing with. Readers here know about the CCP fentanyl trade and money laundering.

    1. taught how to create realistic social profiles to trick people into investing in fake cryptocurrencies

      OMG Ben. So these are the fake commenters who are all over YouTube, trying to get us to call WhatsApp for crypto scams. They started with the financial channels and now they just spam anything that’s popular. They scam YT comments in two ways:

      1. Impersonate the name of the channel owner and reply to legit commenters. Some commenters are flattered that the channel owner replied to them and got suckered in.
      2. Start a ridiculous multi-comment thread beginning with a something like “The world is so uncertain these days. I would like to know more about crypto but I don’t know how to negotiate the price.” Eventually they give us a fake name and WA number.

      Luckily the YT regulars are getting wise to these scams and they can be spotted and reported quickly. I’m sure they’re all over FB and IG and the rest. And, UGH, to think that these comments are the work of slaves. Not to mention the women. 😥

  2. ‘The accounts closed include three with more than a million followers, while more than 47,000 pieces of ‘harmful information’ have been cleaned up’

    The globalist scumbag media have been doing some cleaning up of their own, haven’t they? We’re past the turning point with these criminals.

  3. ‘The CCP is really short on cash … so it calls for common prosperity, which is in fact the same policy of ‘dividing the land with local tyrants’ that was implemented in the Mao era.’ ‘Targeting those who are very wealthy and influential is a characteristic of dictatorships,’ Shi added. ‘In many cases, when the regime cannot solve a certain problem from the root, it goes after the people who supposedly raised the problem. Once the people disappear, it is believed the problem will also disappear. This is the habitual practice of the CCP and the current situation in China’

    The wheels are coming off this sh$t cart.

    ‘Homes that will never be lived in with imaginary migrants that are no longer coming to some of those ghost towns or expensive tier 1 cities very few can even afford to live in. The situation isn’t just not sustainable, it’s become a path to the potential collapse of China’s economic system’

    Same can be said of the REIC everywhere. It’s a road to nowhere, destined to collapse. Look at the bubble bursting in the US. No higher interest rates. Wide open lending/manipulation from the criminal central banks. Still it pops.

  4. ‘the Financial Times warned that a default, exposing the perilous state of China’s property market, would be a ‘debacle that could cascade across global markets’

    Note the globalist scumbags like FT and Bloomberg are only worried about their precious bond markets.

  5. “When you understand the real estate motivations of the common people seeking ‘common prosperity’ you understand why young people are ‘laying flat’. It’s such a scam of a lifetime of labor it’s unbelievable and shocking in its level of corruption.”

    Kudos to the young who “see the light.”

    1. It’s not so different in the US. Shacks everywhere used to be cheap. One income could do it. 15 year loans. Mom stays home with the kids. This is what our system has become. Most people are counting on some poor bashtard to buy their shack, with interest, so they can retire.

      1. And note that the Fed is pumping $40 billion a month into morthage backed securities in order to enable said poor bashtards to make purchase.

  6. India charges WHO Scientist Soumya Swaminathan for Mass Murder: The beginning of Accountability

    ‘India charges WHO Scientist Soumya Swaminathan: India is a forefront nation in demanding accountability from the WHO, the Indian Bar Association (IBA) now suing WHO Chief Scientist Dr. Soumya Swaminathan.’

    ‘They are accusing her of causing the deaths of many Indian citizens by misleading them about the effect of Ivermectin, which she stated did not work against Covid-19. As a result, the use of Ivermectin to cure Covid-19 was stopped and Covid cases exploded with deaths increasing ten-fold.’

    ‘Point 56 states: “That your misleading tweet on May 10, 2021, against the use of Ivermectin had the effect of the State of Tamil Nadu withdrawing Ivermectin from the protocol on May 11, 2021, just a day after the Tamil Nadu government had indicated the same for the treatment of COVID-19 patients.’

    https://hannenabintuherland.com/asia/india-charges-who-scientist-soumya-swaminathan-for-mass-murder-the-beginning-of-accountability/

    1. On the news wire now — Australia bans all purchases of ivermectin, except for one sub variety that is not the one used for Fauci virus.

    2. And by contrast you have the US President ordering 80 million US Citizens to get the jab or lose their job. All while they cover up death and injury from the vaccine , and censor cheap drugs that are already FDA approved for 50 years, that are highly effective against Covid.
      Biden blaming the unvaccinated, saying now that “It’s A Panademic of the Unvaccinated.” Than fake news repeats those same buzz words over and over.
      I see the President of US in collusion with Monopolies wanting to kill or injure me and take all freedoms I have had. Isn’t it obvious by now how evil these monsters are.
      This Innsurrection by murderous fraudulent psychopaths with treasonous Government has got to be stopped .

      1. One thing I never see come up is how much Biden has most likely been paid by the big drug companies. We know how corrupt he has been in the past so it is not a big stretch to imagine that each of the big vaccine pushers has paid him off. Is it a one time kickback or is it per dose? How much is that pos making off his new mandate???

        1. Redhead has a post in yesterday’s thread about how the same crowd of evils sit on each other’s board of directors.

          On Ivermectin, the truth will out. We might be on a third-generation vaccine by then, but the truth will out.

        1. Don’t get your panties in a wad. Biden didn’t exactly “exempt” Congress and staff. Biden can’t order them simply because he has power over ONLY the Executive Branch (and military). That’s why they’re called “Executive Orders.”
          Executive branch.

          As for forcing non-executive — Legislative and Judicial — staff to be vaccinated, I’m not sure who has the power to “order” that. Nancy and Chuck, maybe? John Roberts? CDC?

          3. Contractors are usually contracted to the executive branch. If the legislative branch and judicial branch have contractors, they are also “exempt” from the requirement. It’s not clear whether contractors can choose weekly testing over vaccination.

            And kindly direct your ire in its proper direction, not towards me.

  7. “This week the bonds of Guangzhou fell by more than 20 percent in a single day and are now trading at 60 percent of their face value. The plunge came after Moody’s downgraded its credit rating and warned about the company’s ability to refinance itself.”

    Bahahahahaha … imagine the fun it would be for an insider at Moody’s to short the bonds one day before this downgrade was announced. I know this could never possiblely happen but just imagine how profitable it would be if it could.

    1. “This week the bonds of Guangzhou fell by more than 20 percent in a single day and are now trading at 60 percent of their face value.

      Is that a lot?

    1. The media assures me that inflation is a good thing.

      Heck, if it was raining fire and it was Biden’s doing, we would be told that it’s beneficial.

    2. On my last visit to the grocery store the organic eggs I buy had gone from 3.99$ to 6.79$ in one jump. I’ll have to hunt around to find them somewhere else.

  9. Stamp those liddle donkey hooves!

    “Disgruntled China Evergrande Group customers staged a protest in Guangzhou demanding that the cash-strapped developer restart stalled construction work and urging the local government to intervene. More than 100 home buyers in white T-shirts emblazoned with the phrase ‘Resume construction, Evergrande’ lined up before the housing bureau of the city’s Nansha district on Thursday, according to people who attended the protest and asked not to be named because of fear of retribution. They said the building of units they purchased in Evergrande Peninsula, a project of almost 5,000 apartments, has been halted since May.”

      1. FLASHBACK: 9/11 Firefighter Blows WTC 7 Cover Up Wide Open

        Infowars.com
        September 11th 2021, 2:00 pm

        Jaw-dropping interview reveals the shocking truth about Building 7 and the 9/11 attacks

        Infowars reporter Lee Ann McAdoo talks to Rudy Dent, a 32-year veteran of both the New York Fire Department and the New York Police Department about his incredible first-hand experience of the lies surrounding WTC 7.

        https://www.infowars.com/posts/flashback-9-11-firefighter-blows-wtc-7-cover-up-wide-open/

    4. WTC 7 was possibly the control room used for the demolition of the twin towers, so the evidence had to be destroyed. If it was wired for controlled demolition, they all were.

  11. I was on the Long Island exp, greenpoint ave in sunnyside queens taking pictures with a sony mavica camera on a floppy disc.

    It was one of the clearest days in NYC and the 10x zeiss zoom lens got some really good shots from being an incredibly small jpg file.

      1. Regarding smoke, we finally got some rain yesterday afternoon and evening in the Columbia Basin that cleared the air for this morning’s ride. Blue skies and 10-miles plus of visibility!

        1. I hiked above elevation 13,500 today, first day of decent air in the Front Range all week.

          California’s top exports are: wildfire smoke, Hollywood pedophilia, A.I.D.S., tents and needles and poop on sidewalks, and voters who vote for all of the above in their new adopted home states.

          1. The non-vaccinated are treated like pariahs, while California D voters fleeing the mess they created are free to infest the red states. One of these things is not like the other.

        2. Jill Biden’s fishnet stockings are receiving mixed reactions | New York Post

          Streetwalkers in fishnets are rightfully upset about any possible association with Jill Biden.

        4. Fishnets, JB and ABBA aside:
          When I look at Youtube vids like this one, from the 60′, 70’s and 80’s, it amazes me how much thinner we were as a nation back then. Just look at 60’s thru 80’s Youtube vids of crowds and compare them to Youtube vids of today’s crowds. In older vids, you might see a few heavier folks. However, now it’s the opposite. Being heavier is the norm and slim is the minority.
          Institutional financial greed, yep. Corrupt politicians, sure. Everything bubbles left and right that are ready to burst, check…
          But let’s not talk about what’s potentially one of the most insidious and tragic crisis out there fomenting right before our eyes. As masses of younger and middle aged overweight/obese folks born in the 60’s, 70’s 80’s age over the next couple decades, IMO, there will be a critical mass explosion in health decline/diseases and resultant strain on the American medical/health system of epic proportion.
          The real tragedy, of course, is the “healthy at ANY weight” denial that allowed it to happen.

    2. Those women have gorgeous voices to go along with their stunning looks. Pete Townsend of The Who said SOS was the best pop song ever written. I didn’t like them as a kid, but I learned to appreciate them as I got older. And the guys are top notch musicians.

      1. It seems I have thrown a proverbial stone at an ABBA wasp nest here so let me apologize. 🙂

        I recently watched a documentary on ABBA that was really interesting, From when and how they met through how they won a European contest that had doomed every other winner’s career. The many hit songs they had. how they toured, broke up and ended up with a hit Broadway play, It was quite a story.

        Having said all that, I respectfully disagree with Pete Townsend although I fully admit Jill Biden dresses more like a 1984 Modanna than either of the ladies from ABBA.

        https://youtu.be/52iW3lcpK5M?t=33

        Jill Biden’s fishnet stockings are receiving mixed reactions
        By Jackie Salo
        April 5, 2021

        https://nypost.com/2021/04/05/jill-bidens-fishnet-stockings-are-receiving-mixed-reactions/

  13. We have met the enemy, and they are us.

    — Pogo

    “The tightening of restrictions by the Xi Jinping regime is being conducted under the banner ‘housing is for living, not for speculation.’ But having promoted the very speculation that it is now seeking to curb the government is caught in a trap of its own making.”

    1. Boo Randy. beware those friendly NAR Mercedes

      ” Joubert: You have not much future there. It will happen this way. You may be walking. Maybe the first sunny day of the spring. And a car will slow beside you, and a door will open, and someone you know, maybe even trust, will get out of the car.
      And he will smile, a becoming smile. But he will leave open the door of the car and offer to give you a lift.”

      3 Days of the Condor

  16. “Disgruntled China Evergrande Group customers staged a protest in Guangzhou demanding that the cash-strapped developer restart stalled construction work and urging the local government to intervene.

    When housing losses we must eat
    Let us stamp our little feet!

    1. “Disgruntled China Evergrande Group customers staged a protest in Guangzhou demanding that the cash-strapped developer restart stalled construction . . ”

      “I want trading reopened *right now. * Get those brokers back in here! Turn those machines back on.
      TURN THOSE MACHINES BACK ON!! ”

      Morty Duke

  17. They said the building of units they purchased in Evergrande Peninsula, a project of almost 5,000 apartments, has been halted since May.”

    How’s that sweet equity appreciation working out for ya, bagholders?

  18. ‘On Friday President Trump met with the Gateway Pundit. We shared the story of our friends in Italy who told us on Friday to ask President Trump whether he is coming back. The entire world is praying for his return. In response, the President said the following.’

    “So Joe I think you’re going to be very happy. Because of the campaign finance laws and rules and regulations, which by the way are ridiculous, are not allowed to say otherwise you have a whole new level of craziness happen. And, I think you are going to be very happy. He will be very happy and I appreciate the question.”

    https://www.thegatewaypundit.com/2021/09/president-trump-assures-gateway-pundit-multiple-times-not-worry-coming-back/

    Full video at the link.

  19. “Evergrande owed a record 951.1 billion yuan (S$198 billion) in trade and other payables to suppliers as at June, an earnings report showed last month.

    A few employee bake sales & car washes should suffice to retire those debts & liabilities.

  20. Oh dear. I hope this doesn’t mean cascading defaults are in the offing.

    Huarong Sues Jushenghua for $650 Million Outstanding Loan

    https://www.bloomberg.com/news/articles/2021-09-11/huarong-sues-jushenghua-for-650-million-outstanding-loan?srnd=premium-middle-east&sref=ibr3A0ff

    China Huarong Asset Management Co. is suing Shenzhen Jushenghua Co. to accelerate a 4.2 billion yuan ($650 million) outstanding principal payment.

    Huarong loaned 5 billion yuan to Jushenghua in 2018 with a maturity date of June 15, 2021, according to a filing to the Shanghai Stock Exchange on Friday. Jushenghua has missed an interest payment of 89.7 million yuan, it said.

  21. Standards are rayciss, yo. We must escalate the Democrat-Bolshevik war on competence and merit. Forward, Soviet!

    NYC Subway Failed Because Someone Pushed the Wrong Button

    https://www.bloomberg.com/news/articles/2021-09-10/nyc-subway-failed-because-someone-pushed-the-wrong-button?sref=ibr3A0ff

    New York’s subway shut down for five hours in August, stranding hundreds of passengers in tunnels and crippling transit across the city, because someone pushed the wrong button.

    An unidentified worker pushed an “emergency power off” button on a power distribution unit within the system’s Rail Control Center, according to engineering firms HDR and WSP, hired by the state to investigate the Aug. 29 failure.

      1. Digital photography has come a long way in the past few decades, this was taken with a $200 Android phone camera.

        I know some people who are serious about photography, i.e. hauling tripods and very heavy lenses and other equipment deep into the backcountry, just to get that perfect shot. Not gonna doxx, but these are people who sell calendars of their own landscape shots, and one I know has even had their work displayed at the Smithsonian…

    3. This looks like a good pic of the Front Range. I usually reserved “brown and ugly and boring” for the hills of Southern California, specifically those hills which spawn “million dollar views.”

  23. Bahahaha … when people can buy houses with money they do not have this is what happens to prices …

    https://images.app.goo.gl/x6d2GM7Lnhfj8CZ16

    These price increases, of course, magically transform themselves into equity wealth for their neighbors.

    Working for money is Old School thinking. The modern up-to-date technique to obtaining wealth is to commit oneself to buying a house (using money he does not have) and then hoping and praying that some stranger (a greater fool) will pay up for a similar house located nearby. He pays up, you gain wealth.

    Ah, yes, there is located about some middleman who participates in this (madness?) genius of a financial wealth generating system and this person is the seldom appreciated lender. This is the well-positioned individual makes it all happen by using money he does not have, money that is literally loaned into existence.

    Debt becomes wealth. This is where we are.

    2. “…hoping and praying that some stranger (a greater fool) will pay up for a similar house located nearby. He pays up, you gain wealth….”

      The super slow motion version of musical chairs.

      Mr. Banker has them cornered going in, and cornered going out. Now that is real genius!

      1. “Now that is real genius!”

        Genius, in this case, is a relative term.

        In the Land Of The Half-A-Brain the one with a complete brain appears go be a genius.

        The masses have been born with complete brains but the intelligence contained within them has been “educated” away by our educational (choke) system whereby only half of the brain remains functioning.

  25. “149 cities in China have now entered ‘deep aging,’ the middle state on a spectrum that runs from aging, where more than seven percent are over 65, to super-aging, when more than 20 percent is over that age.”

    For the US as a whole the number is 16.88%.

    Source:
    https://www.statista.com/statistics/241488/population-of-the-us-by-sex-and-age/

    I typed the numbers by age bracket into a spreadsheet and summed the total for all ages (329.46 mm) and total 65+ (55.64 mm) numbers and divided.

    1. Actually 15.8% might be more accurate (subtracting 1/5 of the 65-69 cohort to exclude those who are exactly 65).

      Still, it’s clear that by China’s definition, the US as a whole is well into “deep aging” territory.

      1. Interesting point. The data was as of 7/1/2020 and apparently Trump wanted to exclude illegals from the count. But I don’t think it makes that big a difference. I calculated the 15.8% as 52.066 mm/329.46 mm (52.066 over 65, 329.46 total). If we assume 11.4 mm additional illegals, even if they are all 65 and under, that’s still 52.066/(329.46 + 11.4), or 15.27% over 65 in total.

  26. Never trust a Realtor because Realtors

    A) Laugh when they drive by stranded motorists.

    B) Knowingly go through the 10 items or less line with 14 items.

    C) Are Liars.

    D) Don’t care if they harm old people, children or small pets.

    1. B) Knowingly go through the 10 items or less line with 14 items.

      In fairness to Art Appreciation majors (most common realtor degree), maff is hard.

    3. F) Are realtors because it’s one of the few occupations that doesn’t require a high school diploma or GED.

      G) Would sell their own grandmother into the poor house for another commission check.

      H) Are almost always alcoholics, drug users, and prolific gamblers.

      I) Would say (or do) almost anything to close a sale.

      J) Would not think twice about shoplifting if the Benz loan needs to be paid.

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