Indeed. They appear not to be ruled by massive corporate conglomerates like we are.
The Chinese housing bubble has finally crashed, Evergrande stock in a freefall
- Thread starter Godzillarich(aka tf2godz)
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That's still a thing huh? When I was kid visiting my relatives in the States almost a decade ago, they were already complaining about this.
The main point of gold is that it's inert and easy to store due to it's relative rarity (ie you don't need mega warehouse to hold millions of dollars in gold). But if people are holding it in case of society collapse then that's very dumb since it would have almost no use in that case (so would almost every metal tbh). Copper would have more use (can make bronze relatively easy in case of large scale society collapse) but it rust over time. Aluminum is a somewhat attractive alternative, if society collapse it will become very hard to make new aluminum so it's price will increase, but it's pretty easy to recycle so it'll take time before price really incease. Pure silicon could actually be an attractive alternative, it doesn't degrade and has plenty of use and demand. But the problem is that it has to be doped to specific amount for application and there's no guarantee that current doping agent/amount are going to be standard in the future.
Anyway as for Evergrande, its situation has been known for quite awhile, I would guess if teh CCP was gonna do a full rescue it would have done it already so they'll probably let it fail. It's not that important to their market and they'll probably just have other state owned entity shield any consumer that could get hurt to hard. There's actually another massive state owned bank (forgot the name) that's also on the precipice of bankruptcy apart and that one they'll probably rescue though.
It's similar here too.
This is hardly unique to China, but in both agriculture and real-estate, there's a lot of Chinse overseas ownership of property here, and in the latter, it's raised housing prices.
I dunno Gold is very useful on electrical contacts. It's why most of the better quality connector stuff is gold plated to give a better contact.
Diamonds are where the societal collapse money is. You can use those things to cut stuff and break into places easily to loot supplies.
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Bullet standard. In case of complete societal collapse guns and bullets are going to be worth more than anything.
Well, Agema is correct when he says this was a problem brewing for years. I have read about it again and again as well.
And i do blame the Chinese gouvernment for this. The bubble was obvious years ago and they just let it grow because they had no idea how to solve it without pain. Where pure capitalist gouvernments don't have the tools because the markets are too free, the Chinese gouvernment could have done something easily.
It is.
All this real estate basically works as as pension fund replacement. Due to the single child policy old Chinese can't really rely on their children for care and support, so there was a huge incentive to save for old age. And this was the vehicle used as most other ways to savemoney had been made obnoxiously difficult.
All this real estate basically works as as pension fund replacement. Due to the single child policy old Chinese can't really rely on their children for care and support, so there was a huge incentive to save for old age. And this was the vehicle used as most other ways to savemoney had been made obnoxiously difficult.
Unless you believe that the bubble can be maintained indefinitely, the inevitable answer is yes even if not currently.