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Author Topic: Mega Default in China Scheduled for January 31  (Read 1475 times)

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Offline BlueStateSaint

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Mega Default in China Scheduled for January 31
« on: January 20, 2014, 05:15:28 AM »
Just found this on Drudge.  The start of a worldwide financial collapse?

http://www.forbes.com/sites/gordonchang/2014/01/19/mega-default-in-china-scheduled-for-january-31/

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Offline JohnnyReb

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Re: Mega Default in China Scheduled for January 31
« Reply #1 on: January 20, 2014, 10:47:05 AM »
Quote from: BlueStateSaint on January 20, 2014, 05:15:28 AM
Just found this on Drudge.  The start of a worldwide financial collapse?

http://www.forbes.com/sites/gordonchang/2014/01/19/mega-default-in-china-scheduled-for-january-31/


So, then they call on the U.S. debt and the cookies start to crumble....and Mochelle's vacations end.
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Offline DefiantSix

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Re: Mega Default in China Scheduled for January 31
« Reply #2 on: January 20, 2014, 10:48:51 AM »
Quote from: JohnnyReb on January 20, 2014, 10:47:05 AM
So, then they call on the U.S. debt and the cookies start to crumble....and Mochelle's vacations end.

Oh no; they'll sell whole carrier battle groups before they cut into Moo-chelle Antoinette's vacay "budget"...  :banghead:
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Offline DumbAss Tanker

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Re: Mega Default in China Scheduled for January 31
« Reply #3 on: January 20, 2014, 12:45:15 PM »
I read the article, it's really about a half-billion USD fund crashing, which is closer to peanuts than mega in the scale of international finance...or about a quarter of a B2 in military terms.  The big concern in the Forbes article is more of a what-if about the Chinese either letting or not letting particular financial ventures fail on a wider scale.
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Offline Dori

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Re: Mega Default in China Scheduled for January 31
« Reply #4 on: January 20, 2014, 12:49:46 PM »
Quote from: DumbAss Tanker on January 20, 2014, 12:45:15 PM
I read the article, it's really about a half-billion USD fund crashing, which is closer to peanuts than mega in the scale of international finance...or about a quarter of a B2 in military terms.  The big concern in the Forbes article is more of a what-if about the Chinese either letting or not letting particular financial ventures fail on a wider scale.

You mean the Chinese don't do bail-outs?
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Offline Maxiest

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Re: Mega Default in China Scheduled for January 31
« Reply #5 on: January 20, 2014, 02:31:15 PM »
Quote from: Dori on January 20, 2014, 12:49:46 PM
You mean the Chinese don't do bail-outs?

No they just own 50% of whatever so no need.
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Offline DumbAss Tanker

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Re: Mega Default in China Scheduled for January 31
« Reply #6 on: January 20, 2014, 04:08:27 PM »
Quote from: Dori on January 20, 2014, 12:49:46 PM
You mean the Chinese don't do bail-outs?

The article indicates they kind of do, but in a way that pays off investors without necessarily rescuing the business itself or being especially visible to the investors either.  The concern is that the practice in the past may have masked problems in many other investment instruments, making them appear artificially good, while at the same time being concerned that letting this one fund fail might signal some sort of policy shift that could be bad news for lots of other Chinese funds in a sort of domino effect.
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