China’s Evergrande Case — How to Handle Bankruptcy!

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Remember the Crash of 2008, when the U.S. housing bubble popped? How Bush, then Obama, bailed out the speculators, while 7+ million families lost their homes? And how trillions of dollars of bailouts went to the speculators, driving inflation and increasing unsustainable debt, while credit to productive industry was choked off, to the present day??? Now, check out what China is doing in the Evergrande case — forcing speculators to take a giant haircut, a “pre-emptive bubble popping”, while protecting the homeowners, and continuing to direct money to physical production. China is putting people first, while the Federal Reserve is engaged in “socialism” for bankers and speculative swindlers, under the theme of protecting those “Too Big to Fail”!

Posted on September 28, 2021
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