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Australia really screwed China over with tariffs on their coal when over 50% of China's coal demand was being supplied by Australia (supposedly a response to trying to hide the covid). There are like entire provinces with power outages in China and even in bigger cities there are blackouts on the highways etc.
Can’t recall Australia screwing China over with coal tarriffs?
China cut Aus coal imports to punish Australia over Taiwan support and the Covid origin investigation which you alluded to.
Europes situation is due to the idiotic decision to close down reliable baseload coal and nuclear plants and replace them with unreliable wind and solar.Plus more Gas power plants when their main gas supplier is Russia, who the media and governments have been increasingly demonising the past ten years.What a disaster.
With gas supply reduced and thus gas plant fertiliser byproduct also reduced sharply expect higher food prices in future on top of already highly stretched supply lines.Food inflation will continue to rise and it’s already quite noticeable.
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Yeah, I might've misinterpreted the China/Aus coal situation. The point being China's energy is in big trouble because of it now.
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Interesting to note the CCP had some foresight about this energy situation because they did ban bitcoin mining a few weeks ago.
Also, I went all in on crypto this month, now I just need to hide at an island for a few years until WW3 is finished.
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On October 09 2021 03:28 Kokujin wrote:
Interesting to note the CCP had some foresight about this energy situation because they did ban bitcoin mining a few weeks ago.
Also, I went all in on crypto this month, now I just need to hide at an island for a few years until WW3 is finished.
Countries restricting bitcoin are doing it because it threatens their monopoly on money supply, "enviromental concerns" is just the most sellable excuse to the public. China pretending to care about the enviroment at any level is beyound ridiculous.
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On October 09 2021 03:28 Kokujin wrote:
Interesting to note the CCP had some foresight about this energy situation because they did ban bitcoin mining a few weeks ago.
Also, I went all in on crypto this month, now I just need to hide at an island for a few years until WW3 is finished.
good luck 
If you've invested for the right reasons, should give you the convictions for an easy 10-100x in the next 5-10 yrs
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On October 09 2021 03:28 Kokujin wrote:
Interesting to note the CCP had some foresight about this energy situation because they did ban bitcoin mining a few weeks ago.
Also, I went all in on crypto this month, now I just need to hide at an island for a few years until WW3 is finished.
I don't think China really cares about environmental issues. Pretty sure it is just that it threatens their control in the financial aspect.
I mean not unexpected from a communist government it would defeat the point of their government if they allowed such thing
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Don’t have to be green to cut down on an obvious low-value energy sink in the face of an impending energy crisis. They could save their coal for factories or something.
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Apparently there are new reports coming in that paint a rather bleak picture. China's property market is the biggest asset class in the world valued at $62 trillion and apparently the losses are even greater than anyone predicted (with some developers being down 45% y/y).
Some say that if this collapses it'll be worse than 2008 but I don't know enough about the market. Could someone more versed elaborate on potential fallout after this housing bubble collapses?
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It's impossible to say. The banking and shadow banking sectors are incredibly opaque. They're almost certainly hiding a large amount of non performing loans but nobody really knows how much and how troublesome it really is. In addition a lot depends on the CCP and we know even less about what goes on in the party.
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Not to mention a lot of that debt is owned by or will be owned by city/regional governments that has no interest or responsibility to do anything about it. They can just add all the assets and debt to the state and service it with a currency that has exploded in quantity in the past few years with their own currency that no one outside of the country trusts anyway.
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It will definitely be rough for the Chinese though since over 60% of household wealth in China is tied in those property developments.
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United States41117 Posts
So if anyone is still holding on to SPCE think it might be time to bail. Or at the very least trim some holdings.
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13% dip in AH for SPCE. I have a 6k position @30 with them. Fml
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Why would anyone invest in Virgin though? Any project related to Hyperloop scam is doomed to fail.
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Virgin Galactic (the space tourism company) was pretty early to the “public new space” company game at a time when lots of money was looking for a way to invest in space. Makes for a good meme stock, even if every indication is that the company itself is a two-bit operation.
A WSB favorite from back in the day I think.
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United States41117 Posts
Virginia Orbit is still active yet It hasn't merged with the SPAC yet.
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I meannn I did say I would average down when SPCE drops below 20 so…. We’ll see how monday turns out .
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United States41117 Posts
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If nothing else it should be an interesting week.
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United States41117 Posts
Now it is being said it will happen/be announced on Saturday the 23rd.
Can't find anything on Bloomberg though.
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EPT
