Comments by "D W" (@DW-op7ly) on "Michael Pettis explains why debt is not the problem, but the symptoms of China's economic woes" video.

  1. In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers. Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate. Even then, It took them almost 14 years to get their overheated real estate under control Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018 Why is their Central Government doing this? Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen. Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need In China Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married Thus the common prosperity push and the crackdown on the overt displays of wealth in China Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest
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  2. 90% of Chinese families own a home in China If the the Chinese emperor kid does not take care of their Senior parents the have their nest egg of a home they can reverse mortgage But then the older Chinese have been big savers saving 30% of their slave like wages since the 1970s Yeah not as much money as we make in the west But enough to be indirectly loaning us those savings over the decades This is not unlike in the west where we have our own demographic nightmares But where we lived overindulged lifestyles on borrowed money in debt or broke Where Chinese debt is mostly internal and put in their Local Governments or corporations Our internal debts are also substantial but we are sitting on External Sovereign debts we can’t pay off and need to borrow against to keep our Ponzi scheme going Their Government is purposely deflating their overheated markets. We just wait for a crash Plus like I always say to Americans who feel it’s okay for the US population to decrease Yeah you could close off the country…. but then you have this huge external debt load That no AI robot, will pay off as it won’t pay income tax, spend money for food clothes etc etc etc
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  3. The guy is using US debt to GDP as a benchmark MSM and people like him are purposefully misleading these days That Chinese debt is mostly Internal debt Where they have little external debt Notice how when the do the China va US debt comparisons they leave out the US internal debt But lump in all Chinese debt If they were to include US internal debt with that 34 trillion US external sovereign debt You would have 3 trillion in Local and State debt Non Financial Corporate debt 11 trillion Cooorate debt securities 23 trillion SS liability 26 trillion Medicare Liability 40 trillion Unfunded Liabilities 212 trillion Nominal amount of Derivatives bets by the TooBigTooFail Investment banks 200 trillion 👆 But then no one gives a sheeet because that is internal debt and if all else fails you borrow externally to cover that debt you don’t sweep under the table Where the Chinese stick their debt (mostly internal debt to boot) on the Corporations and Local Governments The USA sticks it’s debt on the “people” Btw who also had no problems taking internal debt not backed by the US Federal Government turning it into external Sovereign debt
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  4. MSM and people like him are purposefully misleading these days That Chinese debt is mostly Internal debt Where they have little external debt Notice how when the do the China va US debt comparisons they leave out the US internal debt But lump in all Chinese debt If they were to include US internal debt with that 34 trillion US external sovereign debt You would have 3 trillion in Local and State debt Non Financial Corporate debt 11 trillion Cooorate debt securities 23 trillion SS liability 26 trillion Medicare Liability 40 trillion Unfunded Liabilities 212 trillion Nominal amount of Derivatives bets by the TooBigTooFail Investment banks 200 trillion 👆 But then no one gives a sheeet because that is internal debt and if all else fails you borrow externally to cover that debt you don’t sweep under the table Where the Chinese stick their debt (mostly internal debt to boot) on the Corporations and Local Governments The USA sticks it’s debt on the “people” Btw who also had no problems taking internal debt not backed by the US Federal Government turn It into External Sovereign debt making the “people” the holders of that debt
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  5. Debt is internal debt that can be swept under the table If their automation AI revolution does not work out???? They can always go back to those illegals immigrants 👇 Special Report: How smuggled workers power 'Made in China' The smuggling of illegal workers from Vietnam across the 1,400-km (840-mile) border into China is growing. Labour brokers estimate that tens of thousands work at factories in the Pearl River Delta, which abuts Hong Kong. Workers from other Southeast Asian nations are joining them. Visits by Reuters to a half-dozen factory towns in southern China revealed the employment of illegal workers from Vietnam is widespread, and authorities often turn a blind eye to their presence. Workers from Myanmar and Laos were also discovered to be working in these areas. Reuters found that employers supply these illegal workers with fake identity cards and sometimes confine them to factory compounds to keep them out of sight of the authorities. Reuters
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  6. MSM and people like him are purposefully misleading these days That Chinese debt is mostly Internal debt Where they have little external debt Notice how when the do the China va US debt comparisons they leave out the US internal debt But lump in all Chinese debt If they were to include US internal debt with that 34 trillion US external sovereign debt You would have 3 trillion in Local and State debt Non Financial Corporate debt 11 trillion Cooorate debt securities 23 trillion SS liability 26 trillion Medicare Liability 40 trillion Unfunded Liabilities 212 trillion Nominal amount of Derivatives bets by the TooBigTooFail Investment banks 200 trillion 👆 But then no one gives a sheeet because that is internal debt and if all else fails you borrow externally to cover that debt you don’t sweep under the table Where the Chinese stick their debt (mostly internal debt to boot) on the Corporations and Local Governments The USA sticks it’s debt on the “people” Btw who also had no problems taking internal debt not backed by the US Federal Government turning it into external Sovereign debt
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  7. MSM and people like him are purposefully misleading these days That Chinese debt is mostly Internal debt Where they have little external debt Notice how when the do the China va US debt comparisons they leave out the US internal debt But lump in all Chinese debt If they were to include US internal debt with that 34 trillion US external sovereign debt You would have 3 trillion in Local and State debt Non Financial Corporate debt 11 trillion Cooorate debt securities 23 trillion SS liability 26 trillion Medicare Liability 40 trillion Unfunded Liabilities 212 trillion Nominal amount of Derivatives bets by the TooBigTooFail Investment banks 200 trillion 👆 But then no one gives a sheeet because that is internal debt and if all else fails you borrow externally to cover that debt you don’t sweep under the table Where the Chinese stick their debt (mostly internal debt to boot) on the Corporations and Local Governments The USA sticks it’s debt on the “people” Btw who also had no problems taking internal debt not backed by the US Federal Government turning it into external Sovereign debt
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  8. MSM and people like him are purposefully misleading these days That Chinese debt is mostly Internal debt Where they have little external debt Notice how when the do the China vs US debt comparisons they leave out the US internal debt But lump in all Chinese debt If they were to include US internal debt with that 34 trillion US external sovereign debt You would have 3 trillion in Local and State debt Non Financial Corporate debt 11 trillion Corporate debt securities 23 trillion SS liability 26 trillion Medicare Liability 40 trillion Unfunded Liabilities 212 trillion Nominal amount of Derivatives bets by the TooBigTooFail Investment banks 200 trillion 👆 But then no one gives a sheeet because that is internal debt and if all else fails you borrow externally to cover that debt you don’t sweep under the table Where the Chinese stick their debt (mostly internal debt to boot) on the Corporations and Local Governments The USA sticks it’s debt on the “people” Btw who also had no problems taking internal debt not backed by the US Federal Government turn it into external Sovereign debt backed by the “people”
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  9. MSM and people like him are purposefully misleading these days That Chinese debt is mostly Internal debt Where they have little external debt Notice how when the do the China va US debt comparisons they leave out the US internal debt But lump in all Chinese debt If they were to include US internal debt with that 34 trillion US external sovereign debt You would have 3 trillion in Local and State debt Non Financial Corporate debt 11 trillion Cooorate debt securities 23 trillion SS liability 26 trillion Medicare Liability 40 trillion Unfunded Liabilities 212 trillion Nominal amount of Derivatives bets by the TooBigTooFail Investment banks 200 trillion 👆 But then no one gives a sheeet because that is internal debt and if all else fails you borrow externally to cover that debt you don’t sweep under the table Where the Chinese stick their debt (mostly internal debt to boot) on the Corporations and Local Governments The USA sticks it’s debt on the “people” Btw who also had no problems taking internal debt not backed by the US Federal Government turning it into external Sovereign debt
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  10. China has a 800 billion USD trade surplus with the “world” nice narrative though
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