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CNBC breaks shocking news
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this post was submitted on 03 Dec 2023
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I referenced overbuilding above. Overbuilding into bankruptcy isn't a ponzi scheme.
https://en.m.wikipedia.org/wiki/Ponzi_scheme
Yes it is a Ponzi scheme. People are putting money into something they aren’t getting. So the answer is no, you haven’t heard of Evergrande. If you think Evergrande is simply an “overbuild” situation then it’s clear you don’t know shit.
A ponzi scheme is a specific type of scam. Not every mismanaged bankruptcy is a ponzi scheme.
Mismanaged? ROFL you are clueless. Suck chinas dick much?
When Lehman Brothers went bankrupt in 2008 because of the sub prime mortgage collapse, that wasn't a ponzi scheme either.
Call it outright fraud, I don't care. Fuck China. Taking out loans to buy real estate that go down in value isn't a ponzi scheme.
Dude that has nothing to do with liking or not liking China, nothing even to do with whether you think an over- vs. under-supply of housing is a better outcome. You just don’t understand what a Ponzi scheme is.
You might be a better dipshit than me.