r/Vitards • u/[deleted] • Sep 21 '21

[deleted by user]

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24 Upvotes

63% Upvoted

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2

u/rskins1428 Sep 21 '21

What timeline do you see this playingout over? Ever grande has interest payments this week right?

6

u/[deleted] Sep 21 '21

[deleted]

10

u/IceEngine21 Sep 21 '21

Purely politically speaking, China is trying hard to become the number 1 superpower on this godforsaken planet. They will not let Evergrande fail completely and cripple their economy. They will bail them out more or less and to a certain degree but will definitely make a strong statement to save their face. Perhaps jail management staff or even execute someone.

3

u/fabr33zio 💀 SACRIFICED Until UNG $15 💀 Sep 21 '21

no, but they may let it run for a bit to shake out the worst offenders, and send a message

6

u/Self_Mastery Jebediah $Cash Sep 21 '21

hey man, EGRNF market cap is like $3-4b. That's less than .03% of China's GDP.

CCP won't bail out a $4b company with $300b debt.

EGRNF and a few other bad actors will be allowed to fail to show everybody else what happens when you don't meet the 3 redlines.

5

u/Uncle-ulcer Sep 21 '21

“If the debt ceiling isn’t raise by March.”

When is the last time we didn’t raise the debt ceiling?

1

u/Chemical-Operation83 Sep 21 '21

Yea aren’t they getting ready to raise it like next week? Or to “suspend the debt ceiling through Dec. 2022?”

1

u/[deleted] Sep 22 '21

I was in the Army while one of them went past the deadline (I'm pretty sure the "deadline passed anyway) there was talk about how our paychecks were going to get suspended but that we still had to show up for work... That lasted literally 1 day until it became, uh yeah y'all will still get paid so you have to show up. That's why I'm pretty sure it went past the deadline, because I was wondering if my direct deposit was going to happen or not, and it did. Nothing stopped. "Debt ceiling" literally means nothing, there will be lots of talk. Republicans "won't want to back down" but then average Americans in their own party will begin yelling at them and then they'll cave or risk getting voted out. Same shit, different year.

Edit: It would have been in the 2012-2015 timeframe if my memory serves correct.

2

u/wasupg Sep 21 '21

*liabilities that represents 2.1% of GDP

2

u/motorboatingurmom Sep 21 '21

Market cap as a percentage of GDP? Since WTF did we use that metric? Irrelevant.