Investors Fear China’s ‘Lehman Moment’ Is Looming

Uhh ohh…

China’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday. - CNN

China’s major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan’s depreciation. - Reuters

If they’re selling dollars for yuan, they’re trying to prop up their own currency.

Do I hear a toilet beginning to flush? :toilet:

Maybe the Uni-Party will put together a bail out package for them. :crazy_face:

I think these insane idiots really are considering bailing them out. :hot_face:

I fear people could be in for a very rude awakening very soon; let’s pray that it doesn’t happen.

Cozar, I’ll add to your comment and say absolutely these insane Uni-Party idiots are considering bailing out Evergrande; and they will accomplish their goal unless some of our politicians grow a spine very soon. We should know shortly after Congress gets back from their well-deserved vacation :rofl: if our tax dollars will be put work for China!

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As China Falls Into Deflation, the Mood Turns Dark

  • China is instead facing an accumulation of bad news: record youth unemployment, a deep housing slump, stagnant spending, even deflation.
  • Last week, it stopped sharing the unemployment rate for young people after the data hit a high at 21.3 percent in June.

China’s economy is in trouble. Beijing hopes Raimondo can lend a hand

  • Xi warned his senior leadership last month in notably frank terms that “China‘s economy is facing new difficulties and challenges.”

Quick fire up the printing presses.

Best economy ever.

Oatmeal is now a luxury staple.