Chinese Mortgage Crisis Could Threaten Financial Stability…
Guys in the video and in the articles I’m going to cite below we are probably looking at the REAL REASON for the beginnings of a massive war between the US and China. (Most likely that will involve the world as well but that’s for another article.) What always seems to start world wars or wars of any kind? Money. Money and resources like oil, gas and precious metals.
Both China and the USA’s economy are built on debt which is smoke and mirrors. In China right now there is a mortgage crisis because homeowners are refusing to make their payments because they’re not being treated fairly by the banks. Some banks have also had tanks deploy outside of them because they just took the customer deposits and told them to pound sand. All of that and more is in the video below.
Oh one more thing of note a few minutes into the video…they’re saying this crisis will be 100 TIMES WORSE THAN LEHMAN IN 2008!!! We are talking about an economic collapse like the world has never seen! Think inflation is bad now? You better have bartering items on hand because cash is about to become campfire starter.
You see if China doesn’t have an external enemy for their people to focus on (USA and the West) then it will be the Chinese government who are overthrown! That is the reason I believe we are going to see this war begin, not over the old hag/witch Nancy Pelosi visiting Taiwan as other Congressional visits have happened before now. No, China is in real financial trouble and they need an outside enemy to blame everything on just as the USA has been blaming Russia for its financial woes.
Here’s more signs of financial trouble in China as home prices have fallen in July, the first time that’s happened in 8 months. From MSN.com
- Prices of new homes in 100 cities averaged 16,204 yuan per square metre in July, 0.01 per cent lower than in June, according to property researcher CREIS
- Home prices in China are likely to fall by as much as 7 per cent this year, according to S&P Global Ratings
China’s new home prices fell in July for the first time in eight months amid a widening mortgage boycott crisis and lack of progress on the debt woes of distressed developers.
In this next report from real money, the mortgage crisis could exceed $355 Billion, causing a crisis in a very important sector in the Chinese economy.
The growing mortgage boycott in China already threatens almost C¥1 trillion (US$148 billion) in home loans but is escalating fast. As a result, it poses a threat to financial stability in the world’s second-largest economy.
The homeowner boycott currently affects C¥980 billion (US$145 billion) in mortgages, according to Standard & Poor’s, which amounts to 2.5% of all mortgage loans nationwide. That could blow out to C¥2.4 trillion (US$355 billion) and 6.4% of China’s mortgage-loan book, the rating agency predicts.
The standoff between homebuyers and developers represents a crisis in confidence. Although the current threat to Chinese banks is contained, the mortgage strike is weakening the strongest pillar in the Chinese economy. It is hitting a sector that accounts for 29% of China’s economy, according to a 2021 paper by Harvard professor Kenneth Rogoff and Tsinghua professor Yuanchen Yang.
“If there is a sharp decline in home prices, this could threaten financial stability,” S&P primary credit analyst Yiran Zhong writes in a report. “The government views this as important enough to quickly roll out relief funds to address eroding confidence.” Source
The mortgage sector is 29% of China’s economy. That is a staggering figure and its all based on smoke and mirrors. Now it’s becoming a bit more clear as to WHY all of this tension is building up over Taiwan at this time. China needs it’s people to get their minds off of their money and their mortgages or there will be a genuine revolution and the communist party may not survive it!
Stay ready, time is short! Seek Jesus Christ as your Lord and Savior NOW before its too late! War could begin anytime if Pelosi really goes and if not there will be another reason.
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