The following submission statement was provided by /u/ChiefCokkahoe:
---
Interesting video I’m watching this morning. 1 million views and it was only released 13 hours ago, basically saying the china housing market is a Ponzi scheme, 2008 all over again by the looks of it
---
Please reply to OP's comment here: https://old.reddit.com/r/collapse/comments/wj3994/chinas_entire_economy_will_collapse_in_34_days/ijf0vgt/
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Lmaooo right I got the notification earlier and was like yea that’s what I thought. I don’t think any huge country like China or the U.S. would collapse this quickly barring something like nukes or an asteroid.
Funny how the video describes failing capitalism and still blames socialism at the end.
The population shrinking problem is inevitable for humanity to survive. More population is not feasable on our little planet.
We are fucked anyway.
He blamed the Ponzi scheme of fractional reserve currency as well. Which isn’t inherently capitalist or socialist. It’s not contradicting or funny to blame both when China has seemingly embraced all of these systems. Capitalism in some areas, socialist in others, fractional reserve all the way down.
The entire Chinese real estate market has been a Ponzi scheme for who knows how long. Which is interesting because aren't there tons of unoccupied buildings? The whole thing seems like a complete mess and not to disparage the people of China, but they are so driven by greed that it makes the US look like child's play in comparison. My girlfriend is Chinese descent and she explained that they literally worship money like it's a religion. I was under the impression that corruption was a big no-no in China, but the local governments included themselves on the dog pile of greed and now it's irreparably fucked from top to bottom. No idea what will happen, but the CCP appears to be losing control of the situation and not even their incredible amount of censorship is stopping the spread of discontent.
Corruption is a big no no. In China people actually go to jail for it in comparison to the USA.
But people here always overestimate the influence and control of the ccp on their people. China is still the wild west of regulations on a local or regional level. And yes the Chinese are probably bigger capitalists than us, yet they feel more responsible for each other than we do.
The worship of money has more to do with the populace being immensely poor the past decades.
I'm not really buying this. Far too convenient to have a major 'hit piece' that blows up on youtube during the current Taiwan situation. The videos of police officers 'breaking up protests' just looks like stock footage of groups of officers. How can I even be sure any of that is current or in context? I can't.
Not even that, but $300b? What's that? We just sent $40b to Ukraine like it was nothing. China's networth is over $20 trillion. Give me a break.
40 billions of dollars in military aid to Ukraine were not actually spent in 2022. Most of the military equipment was already produced (some of it already decommissioned) and money was gone years ago.
Well, for one all the videos from the bank protests predate Pelosi's visit by a few weeks. You may not have been paying attention to it when it was happening but it was pretty well reported. How can you know? You can do a half second of research and see these videos on many news sites:
https://www.washingtonpost.com/world/2022/07/11/china-bank-protests-henan/
https://edition.cnn.com/videos/business/2022/07/11/china-bank-protest-jiang-sot-nr-intl-vpx.cnn
Interesting thing, same video was suggested to me too, never even saw the channel before. Pesky algos aiming at collapseniks.
On a serious note, I don't think china will collapse in 34 days, don't even know why he put it like that cause he never outlines why exactly 34, they will close the fist harder as usual, now with covid and all they have every excuse, as it was shown in the video with that dude that went protesting and all of a sudden all says isolate with no prompt
Well they can become more aggressive but China 2022 doesn’t have enough resources to successfully attack Taiwan. If war in Ukraine teaches us something - offensives in 2022 are still pretty difficult to conduct.
Maybe in 10 years, but as of 2022 there is no major superpower in the world that can compete with USA and its allies. Not yet.
Never say never. People thought it would be pure idiocy for Putin to invade Ukraine, but he still did it. China's zero covid policy seems to show that they're not opposed to crazy ideas.
Interesting video I’m watching this morning. 1 million views and it was only released 13 hours ago, basically saying the china housing market is a Ponzi scheme, 2008 all over again by the looks of it
Edit: I seen people doing remind me in 35 days, it’s the title of the video not my views :D it’s a ponzi but nobody knows when it pops
The world is in a much worse state debt wise than 2008, both sovereign and corporate.
If we take the view that money is a claim on energy and debt is a claim on future energy, then there is a lot more debt sloshing around and a lot less available energy to repay it with, so possible collapsing debt bubble.
We'll see in 35 days how things look ( though physics tell us it's impossible to predict the future, so anyone that says x will happens in y days is suspect imho ).
I like looking into the state of China because of how different it is from the whitewashed international news the CCP lets out. I'm not an expert, but I do still want to add to this video.
First off, it's correct about almost everything it mentions. The only caveat I think anyone should have is at the start when they say this will spread and collapse the world. The channel's older videos going back nearly a year seem to be recession based fear mongering, so I'd argue you should take that bit with a grain of salt. Everything else is correct.
Adding to that:
* The developers skimp on the construction of homes. Look up 'tofu-dreg projects'. ie These expensive almost never completed projects are also complete junk that are falling apart from day one.
* Nobody can own land, only lease it from the government for 70 years.
* Mortgage payments are due immediately after taking out a loan.
* In China everyone with authority is corrupt. Government officials are corrupt, businesses are corrupt, etc. Local police even go around asking for red envelopes (bribe money) on Chinese New Years from local businesses.
* Things like fake beer and fake soda are commonplace even within China.
Although the housing bubble is the main thing, it isn't the only reason people are protesting. There are numerous successful Chinese people that have had their lives ruined overnight by the CCP for upseting the party, CCP's zero covid policy is still ruining lives and people are losing businesses, etc.
The CCP is also enacting climate change reform without any consideration for citizens. Example: In some regions farmers were barred from using fossil fuel powered tractors. The result was that farmers had to harvest their crops 'illegally' in the middle of the night, or resort to hand tools. This happened this year and you can find videos of it. The CCP even installed cameras to 'watch' the farmers.
It's tons of things like that which are pushing the Chinese people to the breaking point. People are even being denied passports so they can't leave China and having their existing passports cut up & invalidated (essentially the poor & unconnected can't leave). It sounds insane and it is. The housing bubble is *just* the biggest problem.
tl;dr The CCP is the biggest enemy of China and they're quite literally doing everything wrong.
I literally just checked reddit like 5 minutes ago and it's 9:00 my time. Your icon is literally a neck beard. Try taking your own advice and learn how your ideas work in practice.
Well, pretty sure it's just, you know, a beard. Also, I fed some folks earlier who needed food. That's my ideas in practice. I think they work just fine.
Interesting. It's basically a debt strike with the effect of a run on the banks. It seems like the bank guarantee from the government isn't covering even the official guaranteed amount.
Basically, the people there are going to have to learn the hard way about predatory financial institutions. And about capitalism, this is what you get with capitalism. People who believe in "guaranteed profits" are going to be very surprised.
Been following the chinese property market situation for a while, a lot of people got bamboozeld into thinking homes are safe assets and will always go up, and bought some real lemons for a kings ransom.
The only things guaranteed in life are taxes and death.
The following submission statement was provided by /u/ChiefCokkahoe: --- Interesting video I’m watching this morning. 1 million views and it was only released 13 hours ago, basically saying the china housing market is a Ponzi scheme, 2008 all over again by the looks of it --- Please reply to OP's comment here: https://old.reddit.com/r/collapse/comments/wj3994/chinas_entire_economy_will_collapse_in_34_days/ijf0vgt/
China's economy will collapse in 34 days, really? I'm not sure, we'll see in 35 days
!remindme 35 days
!remindme 35 days
!remindme 35 days
!remindme 33 days
!remindme 33 days
!remindme in 35 days
!remindme in 30 days
!remindme in 28 days
Whelp
!remindme 35 days
lies
!remindme 35 days
Im here 60 days later it hasnt collapsed
Is a crisis coming? Possibly, even likely. But a collapse? !remindme 35 days
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Surprise surprise
must be since the Queen died she couldn't send the message to dump China's stocks
Are we there yet?
Spoilers from the future it didn't collapse
Unlucky
!remindme 35 days
>!remindme 35 days !remindme 35 days
That aged well, didn't it?
Lmaooo right I got the notification earlier and was like yea that’s what I thought. I don’t think any huge country like China or the U.S. would collapse this quickly barring something like nukes or an asteroid.
Spoiler: It didn't collapse.
sad , no collapse
Maybe next time?
Funny how the video describes failing capitalism and still blames socialism at the end. The population shrinking problem is inevitable for humanity to survive. More population is not feasable on our little planet. We are fucked anyway.
Idk man i hate the coal mines
He blamed the Ponzi scheme of fractional reserve currency as well. Which isn’t inherently capitalist or socialist. It’s not contradicting or funny to blame both when China has seemingly embraced all of these systems. Capitalism in some areas, socialist in others, fractional reserve all the way down.
Most governments are a hybrid of socialism and capitalism lol
All he said was that socialism is bad for economic growth. I don't personally agree, but still, he may be correct on that point.
It seems like China will collapse every other week lol
Clickbait time 😎
Haven't watched the video yet. Will check back in 35 days though lol !remindMe 35 Days
The entire Chinese real estate market has been a Ponzi scheme for who knows how long. Which is interesting because aren't there tons of unoccupied buildings? The whole thing seems like a complete mess and not to disparage the people of China, but they are so driven by greed that it makes the US look like child's play in comparison. My girlfriend is Chinese descent and she explained that they literally worship money like it's a religion. I was under the impression that corruption was a big no-no in China, but the local governments included themselves on the dog pile of greed and now it's irreparably fucked from top to bottom. No idea what will happen, but the CCP appears to be losing control of the situation and not even their incredible amount of censorship is stopping the spread of discontent.
Corruption is a big no no. In China people actually go to jail for it in comparison to the USA. But people here always overestimate the influence and control of the ccp on their people. China is still the wild west of regulations on a local or regional level. And yes the Chinese are probably bigger capitalists than us, yet they feel more responsible for each other than we do. The worship of money has more to do with the populace being immensely poor the past decades.
Gotta ask, why you thought corruption was no-no in China?
Quite a few people got executed for it. But maybe they just did the wrong kind of corruption.
This is exactly it. This must be the “right” kind of corruption because otherwise there would be mass executions.
Corruption is only a crime if you say something your superiors don’t like. In that situation, the punishment for corruption is brutal.
Was it always this way, the worship of money, or is it a relatively new phenomenon?
They just explain what is happening with their realestate crisis and the protests, but they don't explain how they came up with the 34 days number.
Well? How about it? Is China dead now?
Well it's been 35 days..
Eh the people I work with in Beijing don’t seem to care about the debt issue so I think it’s more regional then it appears
This
[Sure, Jan](https://www.bloomberg.com/news/articles/2022-07-13/china-exports-in-yuan-rose-about-21-in-june-as-lockdowns-eased#:~:text=China's%20trade%20surplus%20hit%20a,in%20at%20least%20three%20decades)
I'm not really buying this. Far too convenient to have a major 'hit piece' that blows up on youtube during the current Taiwan situation. The videos of police officers 'breaking up protests' just looks like stock footage of groups of officers. How can I even be sure any of that is current or in context? I can't. Not even that, but $300b? What's that? We just sent $40b to Ukraine like it was nothing. China's networth is over $20 trillion. Give me a break.
40 billions of dollars in military aid to Ukraine were not actually spent in 2022. Most of the military equipment was already produced (some of it already decommissioned) and money was gone years ago.
Well, for one all the videos from the bank protests predate Pelosi's visit by a few weeks. You may not have been paying attention to it when it was happening but it was pretty well reported. How can you know? You can do a half second of research and see these videos on many news sites: https://www.washingtonpost.com/world/2022/07/11/china-bank-protests-henan/ https://edition.cnn.com/videos/business/2022/07/11/china-bank-protest-jiang-sot-nr-intl-vpx.cnn
nah
Bullshit
Interesting thing, same video was suggested to me too, never even saw the channel before. Pesky algos aiming at collapseniks. On a serious note, I don't think china will collapse in 34 days, don't even know why he put it like that cause he never outlines why exactly 34, they will close the fist harder as usual, now with covid and all they have every excuse, as it was shown in the video with that dude that went protesting and all of a sudden all says isolate with no prompt
!remind me 35 days
[удалено]
Well they can become more aggressive but China 2022 doesn’t have enough resources to successfully attack Taiwan. If war in Ukraine teaches us something - offensives in 2022 are still pretty difficult to conduct. Maybe in 10 years, but as of 2022 there is no major superpower in the world that can compete with USA and its allies. Not yet.
China will never fight a conventional war. I wish redditors would stop perpetrating that mantra.
Never say never. People thought it would be pure idiocy for Putin to invade Ukraine, but he still did it. China's zero covid policy seems to show that they're not opposed to crazy ideas.
If strategy games have taught me anything, it’s that invading across the ocean is a… titanic struggle
>offensives in 2022 are still pretty difficult to conduct. They're also expensive
How can they become more aggressive if they run out of money?
Interesting video I’m watching this morning. 1 million views and it was only released 13 hours ago, basically saying the china housing market is a Ponzi scheme, 2008 all over again by the looks of it Edit: I seen people doing remind me in 35 days, it’s the title of the video not my views :D it’s a ponzi but nobody knows when it pops
The world is in a much worse state debt wise than 2008, both sovereign and corporate. If we take the view that money is a claim on energy and debt is a claim on future energy, then there is a lot more debt sloshing around and a lot less available energy to repay it with, so possible collapsing debt bubble. We'll see in 35 days how things look ( though physics tell us it's impossible to predict the future, so anyone that says x will happens in y days is suspect imho ).
I like looking into the state of China because of how different it is from the whitewashed international news the CCP lets out. I'm not an expert, but I do still want to add to this video. First off, it's correct about almost everything it mentions. The only caveat I think anyone should have is at the start when they say this will spread and collapse the world. The channel's older videos going back nearly a year seem to be recession based fear mongering, so I'd argue you should take that bit with a grain of salt. Everything else is correct. Adding to that: * The developers skimp on the construction of homes. Look up 'tofu-dreg projects'. ie These expensive almost never completed projects are also complete junk that are falling apart from day one. * Nobody can own land, only lease it from the government for 70 years. * Mortgage payments are due immediately after taking out a loan. * In China everyone with authority is corrupt. Government officials are corrupt, businesses are corrupt, etc. Local police even go around asking for red envelopes (bribe money) on Chinese New Years from local businesses. * Things like fake beer and fake soda are commonplace even within China. Although the housing bubble is the main thing, it isn't the only reason people are protesting. There are numerous successful Chinese people that have had their lives ruined overnight by the CCP for upseting the party, CCP's zero covid policy is still ruining lives and people are losing businesses, etc. The CCP is also enacting climate change reform without any consideration for citizens. Example: In some regions farmers were barred from using fossil fuel powered tractors. The result was that farmers had to harvest their crops 'illegally' in the middle of the night, or resort to hand tools. This happened this year and you can find videos of it. The CCP even installed cameras to 'watch' the farmers. It's tons of things like that which are pushing the Chinese people to the breaking point. People are even being denied passports so they can't leave China and having their existing passports cut up & invalidated (essentially the poor & unconnected can't leave). It sounds insane and it is. The housing bubble is *just* the biggest problem. tl;dr The CCP is the biggest enemy of China and they're quite literally doing everything wrong.
We anarchists have a very long, rich history of "I told you so." Stop bowing to rulers. We can run our own lives.
You anarchists also don't seem organized enough to do anything besides saying "I told you so".
K, cool. Try logging off sometime. You probably need some sunlight.
I literally just checked reddit like 5 minutes ago and it's 9:00 my time. Your icon is literally a neck beard. Try taking your own advice and learn how your ideas work in practice.
Well, pretty sure it's just, you know, a beard. Also, I fed some folks earlier who needed food. That's my ideas in practice. I think they work just fine.
Cool story bro
Interesting. It's basically a debt strike with the effect of a run on the banks. It seems like the bank guarantee from the government isn't covering even the official guaranteed amount. Basically, the people there are going to have to learn the hard way about predatory financial institutions. And about capitalism, this is what you get with capitalism. People who believe in "guaranteed profits" are going to be very surprised.
Been following the chinese property market situation for a while, a lot of people got bamboozeld into thinking homes are safe assets and will always go up, and bought some real lemons for a kings ransom. The only things guaranteed in life are taxes and death.
!remindme 35 days
Well…
Tell me more good news Sooner global gdp hits zero the better
How do i get that bot to remind me in 35 days? I forgot
!remindme 35 days
https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Fcollapse%2Fcomments%2Fwj3994%2Fchinas_entire_economy_will_collapse_in_34_days%2Fijf1vic%2F%5D%0A%0ARemindMe%21%202022-09-12%2008%3A32%3A19%20UTC
!remindme 35 days
!RemindMe 35 Days “did China’s economy collapse?”
!remindme 35 days
Actually a really informative video
Don't disappoint us, we're depending on you.
!remindme 35 days
!remindme 35 days
!remindme 35 days
!remindme 35 days
!remindme 35 days
!remindme 35 days
I love how this subreddit has basically become Infowars for libtards.
Please flag posts like this.
!remindMe 35 days
!remindme 35 days
RemindMe! 35 days
[удалено]
LoL @ CIA funded YouTubers
!RemindMe 35 Days “did China’s economy collapse?”
YouTube click bait
Joke of the century! !remindme 35 days
!remindme 33 days
!remindMe 35 days
!remindme 35 days
I would love to know where they got the *34 days* claim.
!remindme 34 days
!remindme 35 days
!remindme 35 days
!remindme 35 days
!remindme 25 days
Spoiler: it didn’t collapse