If a billionaire is in actual trouble, he's in China. US would have bailed out Evergrande.
this post was submitted on 19 Mar 2024
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I have pretty severe concerns about how the Chinese government operates, but this is one thing they do right.
I have pretty severe concerns about the way the American government operates.
We have traded the literal genocide and opression for corporations performing economic genocide and opression on us.
But hey, aren't billionaires cool?
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Imagine living in a country where the rich are actually subject to the laws like everyone else...
Not exactly ... they still treated with special previllages, its just this is bit too much
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Fun fact: his last name means a 'dick' in Polish (the most vulgar version of that word).
Not only in Polish. Pretty sure it's most of Eastern Europe. 🤭
Gee it sure sucks that Evergrande collapsed. What a horrible sign for the Chinese economy!
Man all these bad news about Chinese property market, hopefully there isn't a collapse there as predicted.
I hope that the property market collapses and property prices go way down. Surely there are large numbers of people who would like to buy property but cannot afford it at the moment. I hope that happens in many countries.
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Chinese do not fool around. I expect they will make an example of this guy.
He is fucked.. he is a dead man..
Now do Ken Griffin
How do you recover that? How the hell are they going to recover what is essentially multiple time the sum of the wealth of all the top 10 richest individuals on earth???
multiple time the sum of the wealth of all the top 10 richest individuals on earth???
Do you mean the $78B fine or the $300B debt?
In either case, you're way over exaggerating. All of the top 14 wealthiest people have over $100B each. Jeff Bezos (#2 richest) has close to $200B alone.
It's even worse than I thought......... Holy fucking shit.
Right!?
These people have more wealth than the GDP of some nations.
Jeff Bezos has more wealth ($190B) than the GDP of Ukraine ($170B).
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By locking up the rich, seizing their wealth, and using SOEs to take over incomplete projects for pennies.
Presumably they won’t recover, because the Chinese state isn’t coming to their rescue: China’s housing minister says real estate developers must go bankrupt if necessary
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