Comments by "David Himmelsbach" (@davidhimmelsbach557) on "Evergrande Default Day" video.

  1. The market is ahead of events. It's plain that the CCP is going to have to intervene.  Red China simply does not have anything approaching America's Title Eleven bankruptcy laws. So the CCP is going to have to conjure up a resolution by edict and on the fly. The CCP has done this before. The kicker is that absolutely no-one knows what the eventual play will be... especially to include the CCP, itself. Once any mega-debtor blows up -- such as Evergrande -- the resolution will entail total liquidation -- with trivial rump entities spun off, perhaps. Any colossus so large as Evergrande will have the CPAs choking on its books for days, weeks. You just know that their internal controls are zilch. Don't figure the books to balance, either.
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