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chenGOD

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Posts posted by chenGOD

    How does the World view America these days?

    in General Banter

    Posted

    14 hours ago, Nebraska said:

     

    That bit about the tax situation in Washington State seemed weird, so I went and looked - Washington State doesn't have an income tax (neither corporate nor individual)! That's messed up. Corporate income tax and corporate tax evasion should be the number one priorities for any government in terms of revenue generation.

    Digitonal - Set The Weather Fair (Just Music)

    in New & Upcoming Releases

    Posted

    2 hours ago, cern said:

    Can anything by them top 23 Things Fall Apart?

    That is a legendary Toytronic release! 

    Is it only one guy in Digitonal? There was like 6 persons before.. Why they left? 

    It was started by Andy, he had a strong collar with the violinist whose name I forget. 

    2 hours ago, dcom said:

    I think The Centre Cannot Hold EP is the best of the studio recordings, Kirsty Hawkshaw on Maris Stella is sublime, and that particular Version of Amberkreiss is just the absolute best.

    One of the best EPs ever. Beautifully emotive electronic music. 

    How does the World view China these days?

    in General Banter

    Posted

    21 minutes ago, ignatius said:

    will be interesting to see if Chinese held properties in the west come up for sale to increase liquidity for some chinese people who lose money in china. i know in Vancouver BC there's a lot of homes and apartments that sit empty most of the time because they're investment properties.. many of them owned by chinese people.  i guess it depends how deep the pain goes for some people and if there's any connection in those investments.

    The problem with that (and it's not just limited to Vancouver, all my peeps in Sydney checking in?) is that many of those apartments/condos were bought with capital that had been smuggled out of the country against the capital flight restrictions imposed by the Chinese authorities, or they were bought as part of money laundering schemes. Either way, they're having a hard time to get that money back into China.

    What I don't understand is how China didn't learn from the 2008 crisis, where US banks and hedge funds screwed the pooch by betting on wildly over-leveraged assets. How people look at that and don't say, "you know, maybe we shouldn't allow companies to be so wildly in debt they could affect the international economy" is a real fucking trip. That's some pure unregulated capitalism going on right there.

    • Like 2

    How does the World view China these days?

    in General Banter

    Posted

    9 hours ago, auxien said:

    huh. something doesn’t track there.

    AABB93C3-C672-4C1A-9459-9B495A353974.thumb.jpeg.a2ff02e9610f22c58a5e908d04714320.jpeg

    148 million ain’t nothing, don’t get me wrong, but it ain’t that much. odd the Chinese gov isn’t covering these small bits of cash and the other bonds that were going to also/already did default to keep it all afloat, may be a conflict of interest to do so? or may be a calculated move to let Evergrande go bankrupt when they head to court in a few days. 

    the whole thing leading to a global financial collapse sounds a bit overblown tho. maybe i just don’t understand the scale of the money involved as a whole/who all the debts will fuck over. just seems weird that basically ever country in the world is in debt to every other country for literally trillions of dollars in some cases, but this one real estate company in China going under because of their debt could fuck over the entire global financial system? seems weird? maybe just sell some Evergrande NFTs mates??? quick and easy money in that yeah?????

    It's not just those three bonds though, Evergrande is defaulting on all of its debt, which is in the hundreds of billions. The problem as I understand it is that a lot of other Chinese developers (scum of the earth - developers in general that is, not specifically Chinese ones) are also way over-leveraged, and won't be able to repay that debt because of some changes the Chinese government made in the ability of those companies to take on new debt.

    I agree that the whole global financial collapse sounds overblown - it may be a mini-crisis, but not the end of the world. The US Federal Reserve puts out a stability report and the latest one advises caution:

    Quote

    Stresses in China’s real estate sector could strain the Chinese financial system, with possible spillovers to the United States
    In China, business and local government debt remain large; the financial sector’s leverage is high, especially at small and medium-sized banks; and real estate valuations are stretched. In this environment, the ongoing regulatory focus on leveraged institutions has the potential to stress some highly indebted corporations, especially in the real estate sector, as exemplified by the recent concerns around China Evergrande Group. Stresses could, in turn, propagate to the Chinese financial system through spillovers to financial firms, a sudden correction of real estate prices, or a reduction in investor risk appetite. Given the size of China’s economy and financial system as well as its extensive trade linkages with the rest of the world, financial stresses in China could strain global financial markets through a deterioration of risk senti-ment, pose risks to global economic growth, and affect the United States.

    https://www.federalreserve.gov/publications/files/financial-stability-report-20211108.pdf

    How does the World view America these days?

    in General Banter

    Posted

    23 hours ago, ignatius said:

    jfc don't eat so much.  these people have no idea that they are living so well compared to many others in america and the world. 

    who buys 12 gallons of milk every week! "you can pick 5 boxes of cereal"

     

    I mean, they have a big family - so yeah, obviously they buy a lot. But they also probably get some subsidies for adopting those kids.

    Inflation will stick for a while as the lag from the pandemic will be around, and energy prices will continue to rise (especially gas), which means downstream goods and services will have a higher associated base cost.

    International Football Thread

    in Football (Soccer) Discussion

    Posted

    8 hours ago, Amen Lare said:

    Qatar 2022 is a monument of FIFA corruption, everything's wrong about that tournament, and since they plan to do World Cups every two years, it could be the symbolical gravestone too

    So much this. Qatar 2022 is a fucking travesty.

    8 hours ago, Schlitze said:

    You can't support any team outwith your own country. It's absurd. 

    In this day and age, not really. At the top level, it's not Bobby Brixton from down the road anymore. It's a global commodity, and it has been for some time.

    Watmm's Drone Club

    in Music Discussion

    Posted

    On 10/29/2021 at 8:32 AM, auxien said:

    i did a drone/ambient thing earlier this year: 

    oh well click through if you've got 24 minutes and 54 seconds

    I just want to say that this is a lovely piece of music.

    • Like 1
    • Thanks 1
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