A Hong Kong court ordered the liquidation of China Evergrande, the world’s most indebted property developer.
Evergrande has assets of about $245 billion, but owes about $300 billion.
Its demise is a “controlled collapse,” but still raises systemic risk and will hurt investors, says an analyst.
breaks out world’s tiniest violin
Investors can go suck it, I’m in the corner of the working class.
Even here the system will be rigged in favor of big investors vs small investors vs people who bought an asset and will get squat. Because working class who gave them money upfront to purchase an appt or house will be the last one in the collectors queue.
But your response is accurate to the “claim” that investors will be hurt. Media is so messed up that they don’t even mention the customers that will get the worse impact than investors.
I don’t think you quite understand that in this case, it’s millions upon millions of working and middle class people who put most of their life’s savings into this.
That’s literally what the return on all the other investment is for: the assumption of risk.
I guess it’s the same shift in mentality as the credit card processing machine asking for a tip for everything by default.
So you’re in the corner of the working class, and playing the tiniest violin at their suffering?
Are you sure you just an awful person, or do you not read?