EXCELLENT: Jewish House of Cards: 3 More Dumb Chinese companies: Massive debt crisis is getting worse: $400 billion & growing…
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2002: Why Black People struggle
This is an article I wrote in 2002, which was published on an American website called Etherzone. In this article I‘m diplomatic and I‘ve written it for Liberal Americans.
[This is good. Mighty China is not that great. This internal debt of these companies seems to be impacting each other fast. I was watching a video about how these companies work. It looks like this could spread fast. This could get very interesting. Maybe it will begin sinking China? Jan]
The China financial crisis is here. More companies are coming out of the woodwork that are unable to pay debt obligations.
We’ve been reporting for weeks on the Evergrande debt obligations that were falling further and further behind.
We also reported yesterday, that in part because of the Evergrande situation, which highlights China’s financial woes, the Chinese economy is in a crisis.
(I spoke about this yesterday on Steve Bannon’s War Room.)
Today we can report that the Evergrande situation is spreading.
A company by the name of Jumbo Fortune had a $260 million note coming due on October 3, 2021, that it says was backed by Evergrande. However, Evergrande apparently didn’t record this liability on its books. We have no word that this has yet been settled.
Earlier this morning two other companies in the China real estate business were identified in situations just like Evergrande. CNBC reports on Fantasia Holdings:
Ratings agencies have downgraded Chinese developers Fantasia Holdings and Sinic Holdings over risks from their strained cash flow situations.
Fantasia did not repay the principal amount of $206 million of a bond that matured on Monday, it said in a filing to the Hong Kong exchange…
…The fallout from Fantasia, however, would be smaller compared with Evergrande.
Evergrande is the world’s most indebted property developer with liabilities of $300 billion, while Fantasia has total liabilities of 82.9 billion yuan ($12.8 billion), according to its first-half financial statement.
Sinic is also facing solvency issues per CNBC:
The ratings agency [S&P] said that the Chinese developer is likely to default on its $246 million offshore dollar-denominated bond due Oct. 18. Sinic‘s local subsidiaries have already failed to make $38.7 million in interest payments on two onshore yuan-denominated bonds that were due Sept. 18, S&P said.
Sinic has total liabilities of $14.2 billion, its first-half financial statement showed. Shares of the Chinese real estate developer have been halted since Sept. 20.
The total debt of the companies above amounts to more than $400 billion or nearly half a trillion USD and this is just the beginning.
The real Secret of Oprah Winfrey‘s Success: She only/mainly hires WHITES!
Some weeks ago you will remember I posted a news item from the USA where people were remarking that Oprah lorded over whites. She said something about hiring only/mainly white people and now she orders them around