Evergrande goes under

[THEBIGMAN]

https://www.bbc.co.uk/news/business-58579833

Evergrande goes under

$300bn of liabilities! Soon they'll be talking real money.

In any normal environment I'd assume this would trigger a massive credit crunch and head for the hills. But we live in topsy-turvy strange days of pandemics, funny money and wacky politics whereby supposedly socialist parties support globalisation and conservatives ratchet up unprecedented public spending (well, here in the UK at least).

Some think the Chinese government will quietly pick up the tab. Others think this'll trigger a systemic crises a la 2008 when Bear Stearns / Merril Lynch bit the farm. I think the fact is that no-one knows anything, and doubly so when you're looking at financial matters conducted on the dark side of the moon.

Nonetheless, it might be a good moment for investors to consider their positions if they have significant holdings in Asia-Pacific, particularly  in the resource sector...

Where's cgnao when you need him? 😁

EDIT: Mainstream media is predictably vacant on this issue (I put this down to ignorance and incompetence rather than anything more sinister). 'Tis a sad day when the most authorative voice on the issue is ZeroHedge 😞
https://www.zerohedge.com/markets/evergrande-has-finally-defaulted-heres-what-happens-next

[drbubb]

Right.  $30BN DEBT is a huge huge #

HK:6666

Evergrande Property Services Group Ltd. (HKG)