Comments by "Kenz300 x" (@KJSvitko) on "China Out of Money! Forces Military to ‘Tighten Their Belts’ and Cut Back" video.

  1. China is broke. They had an economy built on endless debt. The endless debt has stopped.  China is just now figuring out what a PONZI scheme is. NEW buyers paying off old projects. Pre Sold selling is a scam. People are locked in and forced to pay a mortgage on an unbuilt property that may never be built. The whole property development industry is a scam with shoddy construction and unfinished properties. Buyers are left with no way to get their money back or a finished property. What a scam. The government does not care about the average working people that got scammed and does nothing to make them whole. The government is protecting developers and banks but not the people.
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  2. China's economy will further decline in 2024. There will be stock loses. Bond loses, more property developer bankruptcies, more retail store closings, more bank bankruptcies, more local governments going broke and more unemployment. China has not hit the bottom yet. More pain to come. Only a huge national government bailout can slow the decline and the damage.
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