America First Report
SUBSCRIBE
  • Home
  • Type
    • America First Original
    • Cross-Posted
    • All Around the Web
  • Style
    • News
    • Opinions
    • Videos
    • Podcasts
  • About Us
    • Contact
No Result
View All Result
America First Report
  • Home
  • Type
    • America First Original
    • Cross-Posted
    • All Around the Web
  • Style
    • News
    • Opinions
    • Videos
    • Podcasts
  • About Us
    • Contact
No Result
View All Result
America First Report
No Result
View All Result
Home Type Cross-Posted

Massive Chinese Debt Bomb Set to Explode as Mortgage Holders, Suppliers Refuse to Make Payments on Loans

by JD Heyes
July 29, 2022
in Cross-Posted, Opinions
Chinese Debt Bomb

There is a massive debt bomb that is about to explode in China that is increasingly likely to devastate the country’s economy in a way that would rival the Great Depression in 1930s America.

According to reports, Chinese homebuyers are boycotting their mortgage payments, which led the ChiCom government to scramble in order to avoid an economy-destroying collapse in what is the world’s largest asset.

Prepper Meds – Stock up for now before the supply chain crashes:
✔️ Boost your immune system with Nutraceutical by Dr. Zev Zelenko
✔️ Get ahead of shortages with 5 Antibiotics Delivered to Your Home
✔️ Detox your body with Organic Supplements

Additional reports claimed that some suppliers to Chinese real estate developers have also stopped paying on their bank loans because they are not being paid for bills and other debts owed to them, “a sign that the loan boycott that started with homebuyers is starting to spread,” Zero Hedge reports.

The site adds:

In a jarring case study of what happens when a ponzi scheme goes into reverse, hundreds of contractors to the property industry complained that they can no longer afford to pay their own bills because developers including China Evergrande Group still owe them money, Caixin reported, citing a statement it received from a supplier Tuesday.

Similar to homebuyers who have taken a stand and refuse to pay for properties that remain uncompleted, one group of small businesses and suppliers circulated a letter online saying they will stop repaying debts after Evergrande’s cash crisis left them out of pocket.

Gold Three Companies

“We decided to stop paying all loans and arrears, and advise our peers to decline any requests to be paid on credit or commercial bill,” said the group in the letter dated July 15, which was addressed to the developer’s Hubei office.

“Evergrande should be held responsible for any consequence that follows because of the chain reaction of the supply-chain crisis,” the letter continued, according to Zero Hedge.

The outlet went on to cite Bloomberg News which stated: “[T]he payments protest is the latest sign of how a movement by homebuyers to boycott mortgages on unfinished homes in China is spreading to affect other sectors in the economy.”

Zero Hedge further explains:

Preppers won’t eat frankenmeat or bugs for protein. They’ll eat long-term storage chicken from Prepper Organics. They’ll save $50 per bag with promo code “survive2030”.

Yes it is, and it’s also why Beijing should be freaking out (if it isn’t), because what is taking place in China is far worse than what took place in March 2020 when the global credit machinery ground to a halt, only back then it’s because there was no other option, now it’s a voluntary development and not even fears of reprisals from China’s ruthless, authoritarian, Lebron-beloved dictatorship is stopping millions of people from calling for a systemic boycott, one which can topple China’s entire $60 trillion financial system in moments.

“The development underscores a dilemma for Xi Jinping’s government as it grapples with who to bail out as the country’s property crisis deepens: Relief for some borrowers could prompt threats of non-payment by a whole host of others,” Bloomberg News added. “While bending to demands for support could put a strain on state finances, ignoring them might lead to a spiral of defaults as more and more borrowers refuse to meet their obligations.”

China remains the world’s second-largest economy at roughly $17 trillion annually, behind the nearly $23 trillion U.S. economy (which would be trillions higher if we weren’t being led by a left-wing Democrat mob that hates fossil fuels) and well ahead of Japan’s No. 3 economy at around $5 trillion. So, if the Chinese economy were to collapse, you can see how easily that collapse would spread around the globe, especially since the Chinese make so much of what consumers all over the world use on a daily basis.

The Zero Hedge report noted further that the homebuyer mortgage boycott began in earnest in June, but it has spread to building suppliers as well — around 301 companies located in 91 cities. And it’s only going to get worse, so plan accordingly.

Sources include:

  • ZeroHedge.com
  • Yahoo.com (Bloomberg)
  • NATURAL NEWS


Important Article: Why Everyone, Prepper or Not, Should Build Up Their Food Supply Immediately

Why We “Moderate” a Commentor’s First Post

Tags: ChinaDebtEconomyLedeNatural NewsTop Story
Next Post
Joe Ladapo

With One Logical Statement, Florida's Dr. Joe Ladapo Shows Why He's the Best Surgeon General in the Nation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Bypass Big Tech Censors



My Shows

The JD Rucker Show (Rumble)
The JD Rucker Podcast (Apple)
Red State Talk Radio (M-F 2pm ET)
America Out Loud (M-F 7pm ET)
America First Report (Substack)
The Late Prepper (Substack)
End Medical Tyranny (Substack)

Our Sponsors

 
MyPillow Promo Code

MyPatriotSupply

Z-Stack Life

Precious Metals

Shows

Vaccine-Hesitancy, Ukraine Biolabs, and Jason Nelson Exposes the World to the Chicken and Egg Crisis

Laura Loomer and Why the GOP Establishment Must Be Taken Down

Kristi Leigh: How Corporate Media Sells False Narratives

Mike Pence, Volodymyr Zelensky, and the Failing Deep State

The Bold Conservative Christian Worldview of Bryson Gray

Dean Cain, Jonathan Rose, Kari Lake, and Davos on The JD Rucker Show

Edward Dowd Reveals Who He Thinks Is Behind "Vaccine" Turmoil (Hint: It's NOT Big Pharma)

More People Are Dying Suddenly and 'Normies' Are Finally Taking Notice

Are the Masses Finally Waking Up to "Vaccine" Dangers?

Bypass Big Tech Censors

  • About Us
  • Contact
  • Home
  • Privacy Policy
Site Operated By JD Rucker.

© 2022 America First Report.

No Result
View All Result
  • Home
  • America First Original
  • Cross-Posted
  • All Around the Web
  • News
  • Opinions
  • Videos
  • Podcasts
  • About Us
  • Contact
  • Privacy Policy

© 2022 America First Report.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?