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Breaking: Chinese Financial System On Brink Of Collapse...

 
Saddletramp
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11/02/2012 03:50 PM

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Breaking: Chinese Financial System On Brink Of Collapse...
As a former banker I can tell you this is what happens every time. Loan standards loosen during times of heavy growth, then eventually bad loans begin to crop up, soon the percentages of bad loans becomes something you can't ignore, then the banks pull in their horns and tighten loan standards, and the economy collapses...

Happened to us in 2008. Happening to the Chinese now...

Chinese Financial System On Brink Of Collapse

Nouriel Roubini said some time ago that 30% of Chinese bank loans will become non-performing, which will shake the foundation of the banking system in China. Well, it seems that he knew what he was saying, unfortunately. According to a report by PriceWaterhouseCoopers cited by ZeroHedge, matured and overdue loans reached 489 billion yuan ($77.6 billion) at the end of the second quarter of this year.

At the end of 2011, these loans, likely to become overdue, were only 112.9 billion yuan ($17.8 billion), which means that in just six months, the amount of overdue loans increased by 333%. These loans can not yet be declared bad because the definition of bad loans takes into account credit and interest overdue for more than 90 days and/or judicial proceedings have been initiated against the operation or the debtor.

Even if they can not be considered non-performing loans (NPL), the enormous growth of these loans is dangerous because it is the first and biggest sign that China’s financial system is on the verge of a major earthquake...



[link to www.dailypressdot.com]

dynamite

Last Edited by Saddletramp on 11/02/2012 03:51 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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11/02/2012 03:53 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Again? Someone calls for this on a weekly basis.

Not to mention this article is a month and a half old... must be a big brink.
MARsSPEED

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11/02/2012 03:54 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Happened to us in 2008. Happening to the Chinese now...
 Quoting: Saddletramp


Well so much for just a US Dollar collapse...looks like things are moving into place for a NWO?
MSM Sucks!
Saddletramp (OP)
We Don't Rent Pigs...

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11/02/2012 03:57 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Again? Someone calls for this on a weekly basis.

Not to mention this article is a month and a half old... must be a big brink.
 Quoting: Anonymous Coward 6630717


China is manufactoring dependent, high growth, high loan volume. As the world economy slows down, so do China's exports, bad loans begin to clog the system, they tighten loan standards (this is what's happening now), growth goes off a cliff because of a credit crunch, economic collapse...

It's the cycle, and they are no more immune to it than we were...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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11/02/2012 03:57 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Happened to us in 2008. Happening to the Chinese now...
 Quoting: Saddletramp


Well so much for just a US Dollar collapse...looks like things are moving into place for a NWO?
 Quoting: MARsSPEED


Martial Law on the east coast and an economic collapse?

Sounds about right.

Methinks next week should be either really, really interesting, or not.

But, if the latter is not the case, shit's about to get real IMO.
Saddletramp (OP)
We Don't Rent Pigs...

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11/02/2012 04:09 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Happened to us in 2008. Happening to the Chinese now...
 Quoting: Saddletramp


Well so much for just a US Dollar collapse...looks like things are moving into place for a NWO?
 Quoting: MARsSPEED


Martial Law on the east coast and an economic collapse?

Sounds about right.

Methinks next week should be either really, really interesting, or not.

But, if the latter is not the case, shit's about to get real IMO.
 Quoting: Anonymous Coward 14732648


All you have to do is look at the way China is clamping down on new loans, exports falling off dramatically. If China, with their huge populations, isn't growing at at least 5%...they're in recession.
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
We Don't Rent Pigs...

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11/02/2012 04:12 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
After Hurricane Sandy the MSM tried to come out with all of this crap about the Hurricane being "good" for our economy, they said, just look at all the construction jobs it will create.

But it's gradually sinking in, this is going to be exponentially worse than Katrina, cost wise, and it's a huge drain on an already weakening economy.

Whoever wins the presidency will put full blame on the storm of course, even though the system itself is in dire need of an overhaul...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
We Don't Rent Pigs...

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11/02/2012 04:28 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
China is one of the most credit dependent countries in the world...this tightening can only hurt things...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Luisport

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11/02/2012 04:32 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
PIN!!! bump
Saddletramp (OP)
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11/02/2012 04:51 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Thanks Luis...

hf
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Night Owl

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11/02/2012 05:54 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Sort of starting to look like the whole house of cards is about to implode! Greece is, of course, not even close to being "fixed". In fact good chance they leave the Euro within a year's time, defaulting on all their loans [ie do an Iceland]. This will start a cascade of more defaults as the 'Debt Snowball' rolls down hill and engulfs all those who were stupid enough to loan money to Greece. This will then trigger the collapse of Italy, Spain and likely France. End of Euro. The Tsuami of bad loans will then cross the pond and drown USA banks and investment firms that hold the same bad paper.

As this thread states, China will be imploding because there will be very few countries importing anything from China. The BRICs will all start feeling serious pain as lack of credit brings international trade to almost a standstill.

Add Natural Disasters to the mix and this just adds to the coming misery index.

Civil war and plain 'ol rioting and pillaging will be common place as the regular peeps express their rage at being denied 'stuff' either through shortages or lack of $$$ to buy. The whole Worlds' economies are being kept going by a 'wish and a prayer' at this point. Once everyone figures out everyone is broke, and admits it,the games up and the Great Reset takes place.

Maybe everyone in the World will forgive everyone's debts and then the system will reset.... ?? Times are certainly interesting! So glad I'm retired now and no longer in the exporting business!!
Luisport

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11/02/2012 06:04 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Thanks Luis...

hf
 Quoting: Saddletramp


hf afro
Anonymous Coward
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11/02/2012 06:05 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
we need changes.
Anonymous Coward
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11/02/2012 06:15 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Happened to us in 2008. Happening to the Chinese now...
 Quoting: Saddletramp


Well so much for just a US Dollar collapse...looks like things are moving into place for a NWO?
 Quoting: MARsSPEED


More like a collapsed world order. Think the IMF and World Bank will last much longer? They're all shitting their pants trying to maintain the titanic. Rearranging the chairs on the deck won't save them or their system.
Anonymous Coward
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Switzerland
11/02/2012 06:18 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
haha chinese economy colaps...Only in your dreams lovely americansclappa
Anonymous Coward
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11/02/2012 06:20 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
haha chinese economy colaps...Only in your dreams lovely americansclappa
 Quoting: Anonymous Coward 24845751


It's your worst nightmare, isn't it Swiss 'neutral' boy? That's why you're getting your armed forces together - because the walls are closing in on you. Find a cave. There's still time...
Anonymous Coward
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Switzerland
11/02/2012 06:24 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
China is your problem, you support china for decades. They will come back and eat you all...
Anonymous Coward
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Switzerland
11/02/2012 06:26 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
haha chinese economy colaps...Only in your dreams lovely americansclappa
 Quoting: Anonymous Coward 24845751


It's your worst nightmare, isn't it Swiss 'neutral' boy? That's why you're getting your armed forces together - because the walls are closing in on you. Find a cave. There's still time...
 Quoting: Anonymous Coward 26862431


Thanks to bush, we had massively muslim problems, and it geting worst bye day....
da big kahuna
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11/02/2012 06:27 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
i live on an island with lots more land than people, lots of fish and wild fruit. got nice live aboard catamaran outfitted for survival.

tsunami is my only fear when global economy crashes. hopefully i have enough time to sail out to sea.
Anonymous Coward
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11/02/2012 06:27 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Geee...how about compound interest free money.
BossBattles

User ID: 14648809
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11/02/2012 06:28 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Again? Someone calls for this on a weekly basis.

Not to mention this article is a month and a half old... must be a big brink.
 Quoting: Anonymous Coward 6630717


China is manufactoring dependent, high growth, high loan volume. As the world economy slows down, so do China's exports, bad loans begin to clog the system, they tighten loan standards (this is what's happening now), growth goes off a cliff because of a credit crunch, economic collapse...

It's the cycle, and they are no more immune to it than we were...
 Quoting: Saddletramp


China will be fine. They have the baton for the future. Just accept it.
I can say what I want to,
even if I'm not serious.
Anonymous Coward
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11/02/2012 06:29 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
go figure... made in china... it is gonna break long before you expect it
Anonymous Coward
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11/02/2012 06:30 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
go figure... made in china... it is gonna break long before you expect it
 Quoting: Anonymous Coward 26042618


it may poison you before it breaks though

use with caution
TraderRob

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11/02/2012 06:30 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Again? Someone calls for this on a weekly basis.

Not to mention this article is a month and a half old... must be a big brink.
 Quoting: Anonymous Coward 6630717


Agree... I was living in Asia and closely tied into the news there... they had a banking issue 6-8 years ago. Massive non-performing loans and they were still pumping a lot of companies to keep them technically afloat... or the situation would have been even worse.

Same as the Japs in the 80's.

But nothing ever happened, like it did to the Japs... at least not yet.

Everyone talks about them having trillions in the bank. But that isn't a lot when you factor in the underlying financial issues they have... and a billion people to feed if TSHTF. They will be as broke as us in a lot shorter time than we got there.
waterlily

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11/02/2012 06:30 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
For those who know absolutely for sure that China is rock solid, here is an article from this week, using China's own numbers, which we know are always biased to make things look good:


Government Report Reveals China Debt Bomb
By Gao Zitan
Epoch Times Staff Created: October 25, 2012 Last Updated: October 28, 2012

Debt-crippled Western nations who have hopes that China will rescue them should think again: a new report from a Chinese regime think tank reveals that China has debt problems of its own.

The State Council Development Research Center’s (DRC) Oct. 22 report, “Research on China’s Financial Risks,” shows the combined central and local government debt at 23.76 trillion yuan ($3.8 trillion), or 59 percent of 2010 GDP. While this number is lower than most Western governments, it is the distribution that is most troubling.

Local governments’ short term debt is the most critical, with the highest potential for a financial blow up. In fact, the debt is so high that 78 cities and 99 counties would need to allocate 100 percent of their budget to service it.

A $640 billion central government stimulus plan enabled local governments to borrow heavily in 2009, in the wake of the global 2008 financial crisis. In order to borrow from banks, local governments set up special financial entities that carried out local infrastructure projects, mostly highways and airports....

[link to www.theepochtimes.com]
*********** WaterLily ***********
" Do I dare
Disturb the universe?"
-- T. S. Elliot, Love Song of J. Alfred Prufrock

*************************************
“We are as ignorant of the meaning of the dragon as we are of the meaning of the universe.”
-- Jorge Luis Borges
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
"Pompey made his preparations for the war at the end of the winter, entered upon it at the commencement of spring,
and finished it in the middle of the summer."
-- Cicero, De Imperio Cn. Pompei
~Magik~

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11/02/2012 06:35 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
5a
Top Hat
Top Hat

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11/02/2012 06:36 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
After Hurricane Sandy the MSM tried to come out with all of this crap about the Hurricane being "good" for our economy, they said, just look at all the construction jobs it will create.

But it's gradually sinking in, this is going to be exponentially worse than Katrina, cost wise, and it's a huge drain on an already weakening economy.

Whoever wins the presidency will put full blame on the storm of course, even though the system itself is in dire need of an overhaul...
 Quoting: Saddletramp


Ron Paul right again.
Anonymous Coward
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11/02/2012 06:36 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Oh for fuck's sake! Communism is alive and well and extremely profitable...Both Mitt and Barry and their precious little ones have all INVESTED IN COMMUNIST FUCKING CHINA!!!!!!!!!!!!!...Jesus fucking christ...how fucking dumb is this? Why is it so hard for the little folk to realize when a giant dildo is being inserted up their asses...without lube even...no spin. It's just acceptable by the mindless sheep the China now is 'something'..not Communist..but some other mythical social system played out on CNN and CCTV...fuck there is no hope!!!baaaaabaaa!!!
Saddletramp (OP)
We Don't Rent Pigs...

User ID: 726900
United States
11/02/2012 06:37 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
haha chinese economy colaps...Only in your dreams lovely americansclappa
 Quoting: Anonymous Coward 24845751


Oh God, a collapse of the Chinese economy would be bad for us, probably not as bad as a collapse of our economy would be for them, but still...

The world economy is now interconnected...like it or not.
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
We Don't Rent Pigs...

User ID: 726900
United States
11/02/2012 06:41 PM

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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Again? Someone calls for this on a weekly basis.

Not to mention this article is a month and a half old... must be a big brink.
 Quoting: Anonymous Coward 6630717


Agree... I was living in Asia and closely tied into the news there... they had a banking issue 6-8 years ago. Massive non-performing loans and they were still pumping a lot of companies to keep them technically afloat... or the situation would have been even worse.

Same as the Japs in the 80's.

But nothing ever happened, like it did to the Japs... at least not yet.

Everyone talks about them having trillions in the bank. But that isn't a lot when you factor in the underlying financial issues they have... and a billion people to feed if TSHTF. They will be as broke as us in a lot shorter time than we got there.
 Quoting: TraderRob


Commercial Loans vs National Debt are like comparing apples and space shuttles.

The fact is, credit is tightening in China, it has too because a number of Chinese banks are under-capitalized, this can do nothing but slow their economy, and with the size of the Chinese population, they must have growth and inflation to survive. Any deflation and that country would be in Chaos in a matter of days...

They have almost 1.5 Billion people to feed over there...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
535
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11/02/2012 06:50 PM
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Re: Breaking: Chinese Financial System On Brink Of Collapse...
Not for much longer.

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