Welcome to Ye Olde Colde Furye Blogge’s shiny new open-comments thread, where y’all can have at it as you wish, on any topic you like. Do note that the official CF comments policy remains in effect here, as enumerated in the left sidebar. All new posts will appear below this one. There will be blood…
Some things just require head scratching:
“First, Xi Jinping hates corruption with a passion…”
Well, no. The whole chinese communist party is a cesspool of corruption just like all communists. What commie Xi doesn’t like is not getting his cut and challenges to his rule.
OTOH, this is an interesting situation. Regardless of the prognostications, Evergrande is like all chinese company’s – owned by the communists. What will the CCP do? I’m clueless on that one.
From what I have heard from Varney on Fox is that Eveegrande’s board have been critical of Xi and his policies.
Here’s my guess. Xi will bail out Evergrande and nationalize it while arresting its Board for Fraud or some such “crimes”.
I have not heard that. I never hear Chinese criticize dear leader. I figure they will not let it fail, too much risk for the party in that. But how they’ll rescue it I have no clue. You may be right, as that would allow the rescue and save face.
I glanced at an item on the TV quickly so details are sketchy.
Looks like the ChiCom government took a 20% direct stake in Evergrande, providing the liquidity they need. For now.
I would hazard that is the opening foot in the door on the way to taking it over completely. Xi probably has the ultimate goal of renationalizing the Private sector.
Yea, evergrande is selling 1.5 billion of Shingjing bank shares it owns, to what amounts to a state owned bank. It means Xi is not going to let evergrande fail, but rather take an active stake* in it, IMO.
*everything in china is owned by the CCP already, whenever they want it.
The goal is to go back to Maoism from the Fascism of Deng.
Now, China was no darling in the 90’s but this is a decidedly bad turn of events. It’s not just an economic decision. The PRC in 90’s was a competitor who played dirty to win. Xi is taking the PRC actively back to an adversary who not only means to win but to destroy everyone else that stands in their way. In other words, the fight is no longer an economic fight. It’s headed towards total war on all issues.
Remember that the ChiComs were the active power behind the Korean War, even going so far as to committing their own troops to the conflict. That was the last time the Major Powers directly confronted each other. Afterwards it has always been proxies fighting us or proxies fighting proxies.
Even the Soviets avoided direct confrontation.
Xi is a Maoist not just philosophically, but in practice.
Another thing to expect in the future.
Xi is an extreme racist, certain of Chinese superiority.
Our problem is who controls our nukes? I’m afraid of that answer.
Milley said he’d call the ChiComs first.
Sounds like his commanding officer is Xi.
The regularly scheduled government shutdown theater advances to the next stage, with articles now breathlessly shrieking about “less than 72 hours remain” before shutdown/catastrophe/we all die. All the usual suspects will grab lots of media time, pontificating with very, very serious looks on their faces about how “grave” this “crisis” is. The usual script will be followed, a “miraculous” last minute deal will be made, and debt will continue being piled up without even the briefest pause. Everyone knows the script, the actors will all play their parts, the standard outcome will happen.
I suppose there is the random factor of senile Joe accidentally screwing things up and causing an actual meltdown. But his handlers won’t let him anywhere near the actual deal making, so I don’t expect it. Just more of the same old, same old while the media hypes the supposed “danger.”
“Everyone knows the script, the actors will all play their parts, the standard outcome will happen.”
Certainly highly accurate. The whole damn government is in on the theft. Very few exceptions exist.
A pilot friend sent me a link to a January story from National Geographic* about the time our Air Force dropped two nuclear bombs on North Carolina. I know about this but haven’t seen it in years.
*yea, spit. But this article is nearly free of politics.