Hong Kong - Chinese banks burning

Discussion in 'Current Affairs' started by willrocks, Oct 8, 2019.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    In a letter to his clients Kyle Bass does a neat job of summarising the economic and political history of Hong Kong and cites evidence that China is probably in breach of its treaty obligations regarding the handover. Basically the golden age of Hong Kong is over and anyone holding assets in Hong Kong should probably convert them to USD.

    https://www.zerohedge.com/news/2019...hong-kongs-looming-financial-political-crisis
     
    66rounds likes this.
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    647
    Likes Received:
    495
    Trophy Points:
    63
    Location:
    Melbourne
    Agree on all points, but if they convert to USD theyre converting coals to toilet paper. Euro would be a better bet at this stage. PMs even better.
     
    mmm....shiney! likes this.
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    And cryptos.

    The reasoning behind USD as opposed to the Euro or Yen or Swiss Franc is one of stability and because it's the world's reserve currency. Apparently the Swiss have fkd their system, the Japs are on a slow death spiral and the Euro is not a sovereign currency. The USD is perceived to be a safe haven, so whilst we all know that it's not, everyone still considers it to be. There are some who maintain that the USD will rise in value as other currencies deteriorate. I'm in that school of thought so I'm purchasing small amounts of TUSD with some of my spare cash.
     
    leo25 and 66rounds like this.
  4. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    Pepe Escobar
    15 mins ·
    HONG KONG, THE ULTIMATE NEOLIBERAL WET DREAM

    And this is what you get.

    Absolutely delicious and spot on analysis by Wenhong You, reposted by my friend Rebecca Chan.

    You focuses not on the "long-awaited (and thus far still unrealized) collapse of "communist" China, but rather the wholesale collapse of capitalism as an economic system."

    Here we go:

    "Hong Kong is a neo-liberal capitalist's wet dream. Let's just take a look at some numbers. 0% estate tax. 0% capital gains tax. 0% tax on income earned overseas. 0% tax on dividends from a Hong Kong company. 16.5% corporate tax. 17% top income tax bracket. And to top it all off, the Chief Executive is literally handpicked by the business community. Net result: #4 on the Ease of Doing Business Index (US is #8, by comparison).

    And what is the result of having a city that's so good for business? Well, let's see... A Gini coefficient of 53.7 (vs. 46.5 in Mainland China and 47.0 in the US). Home ownership rate of 49.2% (vs. 90.0% in Mainland China and 64.8% in the US). The "honor" or having the world's most expensive housing market with an average property price of $1.2 million (vs. $872k in Shanghai and $675k in NYC). Meanwhile, the monthly median HOUSEHOLD income in Hong Kong is $3,315 (vs. $4,408 in Shanghai and $4,815 in NYC). Well, at least Hong Kong has universal healthcare, which neither Mainland China nor the US has, so it does have that going for it.

    As long as you have a system where millionaires and billionaires are running the show, this will be the ultimate result: desperate people rioting in the streets. As AI and automation will permanently render unemployable essentially all unskilled and semi-skilled blue collar workers (and an increasing proportion of white collar workers as well) in the next 10-15 years, scenes from today's Hong Kong will be replicated across cities around the world (or in the case of Paris, it's happening already)."
     
  5. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    ^ load of shit.
     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,216
    Likes Received:
    599
    Trophy Points:
    113
    Location:
    Singapore
    I’m not discounting the possibility that this is intentional. How do you get to get back HK before the 50 years is up? Let capitalism destroy HK. HK billionaires are still sleeping?

    What goes around comes around. This is always the case. The trade war night is a long one.
     
  7. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    like this one, after falling as sleep , the other one is watching
    [​IMG][​IMG]
     
  8. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    5,993
    Likes Received:
    862
    Trophy Points:
    113
     
    leo25 and mmm....shiney! like this.
  9. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    exactly just like Paris
     
  10. openeyes

    openeyes Well-Known Member Silver Stacker

    Joined:
    Aug 26, 2014
    Messages:
    684
    Likes Received:
    348
    Trophy Points:
    63
    Location:
    Canberra
    Chinese play a very long game. This year next year or a hundred years Hong Kong will be just another part of China. Hard to see Taiwan avoiding the same outcome. Will the West be relevant in the future? Certainly the US is a lost cause. Europe seems unlikely to survive long term. What will all that look like in 50 years? Many of us won’t see it.
     
  11. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    may be the age of immortality will catch up fast enough
     
  12. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    Blizzard knew severe political consequences were ahead in China if it allowed blitzchung to go unpunished.

    The game developer issued a statement shortly after the incident that said blitzchung violated a competition rule, which states:

    2019 HEARTHSTONE® GRANDMASTERS OFFICIAL COMPETITION RULES v1.4 p.12, Section 6.1 (o)

    Engaging in any act that, in Blizzard's sole discretion, brings you into public disrepute, offends a portion or group of the public, or otherwise damages Blizzard image will result in removal from Grandmasters and reduction of the player's prize total to $0 USD, in addition to other remedies which may be provided for under the Handbook and Blizzard's Website Terms.
    https://www.zerohedge.com/political...serk-gamer-hong-kong-support-pulls-cash-price
     
  13. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,881
    Likes Received:
    962
    Trophy Points:
    113
    Location:
    Sydney
    They play so long they never finish :D
     
    mmm....shiney! likes this.
  14. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,216
    Likes Received:
    599
    Trophy Points:
    113
    Location:
    Singapore
    The next 100 years.

     
  15. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
  16. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    From the link:

    The same China Law Society that according to its Director Wang Chen

    Same guy? Could be.

    http://www.lef.com.hk/executive-council-chairman/lawrence-ma/

    Why would Escobar publish the opinions of a communist in explaining why the pro-democracy protests in Hong Kong are occurring? Escobar peddling propaganda the CPC? How nice for Hong Kong. o_O
     
  17. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    Pepe Escobar is pushing CPC propaganda because he is an out-and-out leftist. He's been writing anti-capitalist, anti-US articles for many years. Here's his final paragraph from a 2007 piece written to celebrate the life and work of Che Guevara, the South American revolutionary who murdered in the name of communism:

    http://milfuegos.blogspot.com/2007/10/che-lives-by-pepe-escobar.html

    In Escobar's eyes the CPC must be acting from the moral and political high ground - just as Che did.
     
  18. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
  19. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    @alor, I think your Silver Stackers account has been hacked by the CPC.

    One of their agents keeps posting socialist propaganda in a variety of threads under your username.
     
    leo25 likes this.

Share This Page