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China Banks Nearly Bankrupt: "Every Province in China is Greece"
Townhall.com ^ | November 16, 2011 | Mike Shedlock

Posted on 11/16/2011 8:23:09 AM PST by Kaslin

click here to read article


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To: Kaslin

this is rich!

their mayors have been cookie-cutter building housing that they can ill afford.

the last i read, some 64,000,000 excess housing units were available, but unoccupied.


21 posted on 11/16/2011 8:41:58 AM PST by ken21
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To: PGR88

Depends...when contracts are let to Chinese companies to manufacture stuff, there is usually a considerable down payment with the contract signing..helps the factories pay for labor and raw materials, and also helps to guarantee that the goods are paid for when finished. If there is a sense that China/Chinese factories are in big financial trouble, then companies will be much less willing to advance funds, nor will banks/factors be willing to step in and finance..


22 posted on 11/16/2011 8:43:56 AM PST by ken5050 (Perry/Gingrich 2012!!)
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To: SouthTexas
Gave up trying to explain to people that 10-15% endless growth was not real.

Try analogizing to Madoff.
23 posted on 11/16/2011 8:47:12 AM PST by UnbelievingScumOnTheOtherSide (REPEAL WASHINGTON! -- Islam Delenda Est! -- I Want Constantinople Back. -- Rumble thee forth.)
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To: DonaldC

Would that apply to individuals or just governments?


24 posted on 11/16/2011 8:48:38 AM PST by ChocChipCookie
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To: Kaslin

Hi Kaslin. The financial illiteracy demonstrated in these comments is something to behold.


25 posted on 11/16/2011 8:49:56 AM PST by SaxxonWoods (.....The days are long but the years are short.....)
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To: ken21

Maybe they should end the One Child policy?


26 posted on 11/16/2011 8:50:31 AM PST by UnbelievingScumOnTheOtherSide (REPEAL WASHINGTON! -- Islam Delenda Est! -- I Want Constantinople Back. -- Rumble thee forth.)
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To: Kaslin

The Chinese “economy” is built on the backs of their people who earn slave labor wages. As the world slows down and the US and European economies struggle who’s left to buy? The Third World?

Chinese GDP must be feeling the pinch...but you’ll never hear it from them.


27 posted on 11/16/2011 8:51:18 AM PST by O6ret (for)
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To: Kaslin

When the Yuan is overvalued 2 to 1, that means a 50% loss on every dollar of revenue, only partly made up by slave wages.


28 posted on 11/16/2011 8:52:37 AM PST by UnbelievingScumOnTheOtherSide (REPEAL WASHINGTON! -- Islam Delenda Est! -- I Want Constantinople Back. -- Rumble thee forth.)
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To: DonaldC
Time to have a year of jubilee and zero out the debts I guess.

Do you have a savings account? An IRA? A 401(k) account?

Those assets have been invested somewhere; they're someone else's debt.

If that debt gets jubilee'd away, so do your assets.

29 posted on 11/16/2011 8:56:32 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: null and void
They have our money and they are still bankrupt?

Funny, that. They also have our debt - which means we have their money - and we are nigh unto bankrupt.

They make stuff, we give them money for it, they give the money back in exchange for bonds which won't be paid. Both are bankrupt. Where'd the money go?

30 posted on 11/16/2011 8:56:43 AM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: qam1

[ I think the only thing keeping the world economy going is that everybody is equally so screwed up ]

“Peter Principle Economics”


31 posted on 11/16/2011 8:56:53 AM PST by GraceG
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To: Kaslin

Geez, I better head over to the Dollar store and buy more useless Chinese cr@p.


32 posted on 11/16/2011 8:57:58 AM PST by Lorianne
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To: UnbelievingScumOnTheOtherSide

[ Maybe they should end the One Child policy? ]

They will end it, but only for chinese nationals living OUTSIDE of mainland china.

This will facilitate the take over of China as a 1,000 year long superpower.


33 posted on 11/16/2011 8:58:00 AM PST by GraceG
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To: rokkitapps

I had to purchase a pillow a few months back. I was more than pleased that I found one that was made in the USA. It was more expensive but of higher quality. I didn’t really want to chance a pillow from China, thinking what all chemicals I’d be breathing in for hours each night.


34 posted on 11/16/2011 8:59:05 AM PST by greene66
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To: DuncanWaring

401K’s and the like are the lever they are going to use over us for endless bailouts.

If we allow it, we deserve it.


35 posted on 11/16/2011 8:59:24 AM PST by Lorianne
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To: Little Ray

The PRC bubble goes ‘pop’, they call in their loans, we say “fat chance”[1], they say “we’ll forgive the loans if you’ll park your navy in the Atlantic for a month”, PRC proceeds to...um...solve their population’s gender discrepancy issue, and when we look back the world nation count has dropped by 1/3rd.


36 posted on 11/16/2011 9:01:11 AM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: Kaslin

So, what’s gonna happen when they call in their loans? /rhetorical question


37 posted on 11/16/2011 9:02:16 AM PST by sauropod (William Kristol does NOT choose my presidential candidate!)
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To: DuncanWaring
Do you have a savings account? An IRA? A 401(k) account?

Those assets have been invested somewhere; they're someone else's debt.

If that debt gets jubilee'd away, so do your assets.

They'll be taxed away or seized outright anyway.

38 posted on 11/16/2011 9:02:34 AM PST by null and void (MSGT Dean Hopkins USMC (ret) WWII-Korea-Vietnam 11/9/1925-10/22/2011 My hero, my Dad)
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To: null and void

That’s more likely.

But the debt will live on.

The banksters that own the government won’t allow otherwise.


39 posted on 11/16/2011 9:03:53 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Kaslin
I had a friend who went back to China to start a software company. He had been born in Beijing.

He came back to the US astounded at the level of corruption and how many cadres had their palms out to prospective businesses. I've also heard that the bad debt banks in China are hiding makes our toxic mortgages look like petty cash.

40 posted on 11/16/2011 9:05:04 AM PST by AU72
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