Can the report below from France 24 really be true?
Surely the fools that run the world’s economies must realise that this massive debt fueled speculatitive behaviour cannot continue.
The working people of the world are the ones who suffer with each economic catastrophe, while the banksters accumulate private wealth when the markets move in their favour, and get bailed out with printed money when their bets go wrong 🙁
They sneer at meme stocks, but the whole global financial system is a meme system, full of meme products.
Seems like national debts will be quoted in quadrillions at some stage 🙁
Evergrande’s collapse would have ‘profound consequences’ for China’s economy.
Investors are bracing for the increasing risk that Chinese real estate colossus Evergrande will collapse under the weight of more than $300 billion of debt. But experts say the Chinese Communist Party will have no choice but to save a company that is so emblematic of its economic growth model – and whose collapse would send shockwaves across the global economy.
via r/wallstreetbets https://ift.tt/3qhG8Zq
September 11, 2021 at 02:48AM