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A man walks in front of unfinished residential buildings at the Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, China on Sept. 15, 2021. (Carlos Garcia Rawlins/Reuters) Commentary
Is China’s real estate-based economy on the brink of collapse?
A big part of it just might be, if not all of it.
Evergrande, China’s second largest real estate developer and the world’s most indebted property developer , is in danger of defaulting on loan service payments. Much of the debt is held by Chinese banks, driving concerns of a collapse in China’s huge and heavily indebted financial sector.
But that’s not all. A significant amount of Evergrande’s debt ($800+ million) is held by foreign interests as well. Given China’s extensive economic ties with the rest of the world, the fear is that the collapse of such a large firm will have economic consequences for both China and its foreign bondholders. A Lehman Brothers Event?
Neither are unreasonable fears. Parallels have been drawn between the financial crisis in 2008, which was triggered by the collapse of Lehman Brothers, a notable Wall Street investing firm that was supposedly “too big to fail.” But when it did, other firms began to as well, requiring massive government bailouts in the trillions of dollars amid a deep recession.
That same fear of economic contagion may be part of what drove financial asset prices to tumble last week. Some financial experts think the fallout from the Evergrande default could be far worse than that of Lehman Brothers.
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Observers have known that the Chinese real estate market has been in a bubble for decades. As for Evergrande, it’s the poster child for China’s long-overheated real estate-based economy. A year ago, the headlines were very similar to today’s when the real estate firm faced a $120 billion debt service crisis .
But somehow, the People’s Bank of China (PBOC) was able to work things out—at least for a while. But this time, the outcome may differ. In fact, Evergrande isn’t alone in its financial struggles; other heavily leveraged Chinese property developers such as Sinic Holdings and others are also in trouble. […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker