Comments by "William Warren" (@wbwarren57) on "Lei's Real Talk" channel.

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  32. Suggested Video: Why Did Xi Jinping Impose the "3 Red Lines" Policy? As a small-brain, short-term, weak thinking, fundamentally-corrupt bourgeois Westerner, I don't understand why the big-brain, long-game, mystically-powered, genius-thinkers of the CCP suddenly imposed the "3 Red Lines" policy?!? As a small-brain, short-term, weak-thinking, fundamentally corrupt bourgeois Westerner, what I think gave rise to the "3 Read Lines" policy that is now endangering the very existence of the CCP includes: 1. The CCP policy makers did not have adequate accurate information about the real financial situation of the Chinese real estate sector either because they were too lazy to go get or because the CCP had allowed for so much systematic corruption to thrive at all levels of Chinese government and business that the data was impossible to get. 2. If the CCP policy makers DID have the data (even if only a potion of it) then they did little or no analysis about the likely outcomes of imposing the "3 Red Lines" policy and cutting the Chinese real estate sector off from more borrowing that would have allowed them to cover up their precarious financial situation. 3. The CCP policy makers fastened onto the "3 Red Lines" policy to indulge their fascination with policies that look good on a bumper sticker and include a number in the name. 4. The CCP policy makers showed little or no imagination in different approaches to reducing the real estate bubble. For example, they could have quietly worked with the real estate companies to sell off non-core assets and businesses (while these were still attractive to other investors), speed up the completion of their building projects so they could access any escrow funds, and help them to do limited borrowing to refinance/restructure the most urgent debt repayments to avoid a huge loss in international investor confidence. 5. The CCP policy makers in the Xi Jinping faction imposed the "3 Red Lines" policy to embarrass and destroy the rival CCP factions with little or no regard to what the collapse of the Chinese real estate sector would do to endangering China and the CCP as a whole. Please help me understand! As a small-brain, short-term, weak-thinking, fundamentally corrupt bourgeois Westerner I want to bow down and - nay, kneel down and kowtow - to the big-brain, long-game, mystically-powered, genius thinkers of the CCP and surrender totally, abjectly, and apologetically but until I can understand the true genius of the "3 Red Lines" policy, I must admit I am hesitating - and for that I am truly very, very, very sorry and deserving of punishment!
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  63.  @wakannnai1  You underestimate the greatness of Xi Jinping and the CCP! Remember that $6 billion that disappeared from the accounts in that provincial bank? Well, that money is now well and truly gone because the CCP deleted any mention of it from the Chinese internet AND SOCIAL MEDIA and used thugs in black slacks and white shirts to terrorize the account holders into no longer asking for their money back. If no one is asking for their money back, is any money really missing? When it is comes to the real estate crisis, the CCP will use the same approach. They will punish (fine, arrest, torture, imprison, kill, organ harvest, etc.) at least one mortgage boycotter from each real estate project affected by boycotts. Though this won't be mentioned anywhere on the Chinese internet (or at least it won't be mentioned after the censors have done their work), word-of-mouth will get around that the mortgages MUST be paid if the mortgage holders (or their surviving families) won't to escape punishment. Far from being criticized by the Chinese "people" (CCP livestock) at large, it will be welcomed because it will help stabilize the finances of the real estate companies, perhaps lead to the completion of more projects (though that is not guaranteed), and will restore confidence that the CCP will not let property prices go down. Though this course of action probably will adversely affect the long-term growth of China, restored confidence will cause the Chinese people to once again joyfully resume en masse throwing their life savings into the real estate money pit (Ponzi scheme) once again and prices will resume rising - and even surging like the good old days. Rising real estate prices will, of course, also help to stabilize and restore provincial finances. Yes, this policy is just "kicking the can down the road", but it should work long enough to benefit the older leaders now in the CCP (until they are buried with full honors - Xi Jinping among them) and should give the younger well-connected smart CCP members time enough to steal as much money as possible (many, many billions of US$) and flee the country with their family and their fortunes (fortunes at least, new families can be purchased if needed).
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