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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Jacob Snyder who wrote (38380)10/1/2021 3:33:24 PM
From: Jacob Snyder  Read Replies (2) of 97549
 
KWEB: I am steadily more bullish, with every bit of bad news that gets ignored. Stories like this reinforce the “China is uninvestable “ line. But KWEB has gone sideways since late July, and the 20dma has stopped going down. Very tentatively, I am placing a support line there, and buying. schrts.co

Goldman Flags $8.2 Trillion Threat Worse Than China Evergrande

The real worry concerning the China Evergrande default drama is the inevitable where-there’s-smoke-there’s-fire paranoia that accompanies debt stumbles.
The most worrisome such blaze, say analysts at Goldman Sachs, is surging local government debt levels that President Xi Jinping’s men have done their best to hide. The default troubles at the globe’s most indebted property development seem like small embers compared to the $8.2 trillion worth of local government financing vehicles outstanding.
And that’s just the LGFVs we know of. The data that Goldman’s Maggie Wei highlights is as of the end of 2020. Clearly, the tally is higher now—perhaps markedly. Ten months ago, these shadowy investment schemes had reached 53 trillion yuan, up from 16 trillion yuan, or $2.47 trillion, in 2013. They now amount to roughly 52% of China’s gross domestic product, topping the official amount of outstanding government debt. forbes.com
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