Replies to post #24876 on The Rising Influence of Rising Affluence

[wow_happens28]

Good post StocksGoneWild, unfortunately very possible.

[santafe2]

I'll second that, good post, thank you. The linked article opened with this:

China Evergrande Group today again defaulted on interest payments to international investors.

I think I read that the founder was the one who made international investors whole last month but of course this is too big a problem for one billionaire to resolve. Since it's China he may have just gotten the message that he needed to buy a firing squad pass. If so, good choice.

I closed my China centric holdings today. Since my Ouija board and my Magic 8 Ball are both broken I may regret this but as a conservative investor, I don't think I would sleep well at night waiting for what appears to be an inevitable outcome.

That said, 'the great reset' is the end and, as someone smarter than I said, the end only comes once. This is not that. This is a dictatorship pretending they have the best answers without input from a very messy democratically elected group of folks who have to face regular reelection. China is not Japan. China is not the US. China is China with its own set of issues. Good luck keeping the proletariat under control if the economy reverses course. They've had a taste of freedom even if it was only financial.