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(Zero Hedge)—It has long been understood that most financial data provided by the Chinese government is propaganda designed to misrepresent the country’s true economic circumstances. At best, their statistics provide half the truth and the rest has to be discerned through deeper investigation. When systemic crisis events take place in China it usually comes as a shock to much of the world exactly because they expend considerable resources in order to hide instability behind a thin veneer of fabricated progress.
The biggest story in China in the new millennia has been nation’s debt explosion. China’s debt-to-GDP ratio is currently estimated at nearly 300% (official numbers), with most of the liabilities accrued in the past 15 years. Chinese debt spending accelerated in part because of the global credit crash of 2008, but a lesser known factor is their entry into the IMF’s Special Drawing Rights basket. The process started around 2011 and the IMF requires any prospective applicant to take on a wide array of debt instruments before they can be added to the global currency mechanism.
By the time of China’s official inclusion in the SDR in 2016 they had nearly doubled their national debt. After 2016 debt levels skyrocketed.
The debt problem is harder to quantify in China because of their communist structure posing as a free market structure. Corporate debt in China has to be included into the national debt picture because of state funded enterprises and the level of government investment in property and industry.
It is here where we find the most blatant warning signs of deflationary crisis, particularly in property markets and infrastructure development. The CCP has put a “great information wall” in place to prevent accurate data from leaving the country, but some reports on China’s failing infrastructure still escape. China’s export market is crumbling in the past year, in large part because western consumers are tapped out due to inflation. However, what they prefer not to mention is the damage they did to themselves after three years of near constant covid lockdowns. This destroyed their retail sector and things have only grown worse since.
Then there is the real estate market which has suffered extreme deflation over the past decade, with a larger drop expected in the next year. China deliberately popped the housing market bubble as a means to disrupt what officials considered out of control speculation. This led to the now famous “ghost towns” dotting the Chinese landscape; thousands of neighborhoods and high rises left unfinished and empty after development companies went bankrupt.
One of the more disturbing trends in China, though, is the effort to use large infrastructure projects to hide the nation’s deflationary decline. China’s propaganda machine is pervasive across the world and most people in the west assume that China is on the cutting edge of progress because of videos on social media. In reality, the Chinese have been building cheaply constructed and poorly designed false-front landmarks that look technologically impressive on the surface but fall apart in a matter of months.
China is planning another 1 trillion Yuan ($137 billion) in infrastructure projects in 2024 alone, but the debt cycle and the deflationary spiral seem to be catching up with them. The IMF claims that China’s economy has stumbled but is “unlikely to fall”, yet, with their global exports falling, property markets plunging and consumer activity in decline it’s hard to see how they can continue without a depression-like event in the near future.
Most Accurate Pollster From 2020 Drops Final Numbers
by JD Rucker
Atlas Intel, which was hands down the most accurate public poll during the 2020 election, just dropped its final poll of the season. It points to landslide victory for Donald Trump. If Kamala Harris is able to win Minnesota and Virginia, two blue states that are in jeopardy of being…
A Kamala Harris Victory Means Green New Deal Lawfare
by Daily Signal
Expect Kamala Harris’ Justice Department to wage Green New Deal lawfare if she is elected president on Nov. 5. As with every last issue pertaining to this election, Harris has not said much about the substance of her climate policy. But a review of her record suggests she’d be amenable…
The Moral and Spiritual Issues That Demand Our Votes
by Harbingers Daily
As a pastor and a preacher, I want to urge all Christians this election season: Get out and vote. I believe it is our duty as citizens of our state and country, but I also believe it’s especially important given the issues represented in this election. Many of these are…
No Matter the Final Vote, This Election’s Biggest Loser May Be the Legacy News Media
by Just The News
In the sultry days of summer 2020 as Donald Trump contemplated a second term, his aides engaged in a quiet conversation with members of the emerging digital media about an audacious idea. The goal was to bypass the traditional news media who monopolized the White House Correspondents Association press room…
Democrats Unveil Dark, Diabolical Plans to Prevent Trump From Retaking White House – Even if He Wins!
by WND
With results from the 2024 presidential election now imminent, Democrats have been vocal in their plans to subvert the will of the American people and prevent former President Donald Trump from retaking the White House if he pulls out a win over his Democratic rival Vice President Kamala Harris. In…
Trump Doesn’t Rule Out Banning Certain Vaccines if He Wins Election
by The Epoch Times
Former President Donald Trump in a new interview did not rule out banning some vaccines if he wins the upcoming election. “Well, I’m going to talk to him and talk to other people, and I’ll make a decision,” Trump told NBC over the weekend when asked if banning vaccines would…
Trump, Republicans Pin Hopes on Record Early Voting in North Carolina
by Jeff Louderback, The Epoch Times
(The Epoch Times)—In his final North Carolina rally of the 2024 campaign, former President Donald Trump predicted he would win the state where he prevailed in 2016 and 2020. “North Carolina’s reliable for me,” Trump said at Dorton Arena in Raleigh, the first of four stops on Election Day Eve….
If Godly People Don’t Vote, Godless People Will: The Christian Case for Voting
by The Blaze
Do Christians have a spiritual responsibility to vote? Allie Beth Stuckey of “Relatable” and the senior pastor of Lakepointe Church, Josh Howerton, believe the answer to that question is a resounding “yes.” “I’ll gently venture out on a limb,” Howerton tells Stuckey. “I think Christians have a spiritual responsibility to…
Here’s Proof the FBI Protected Biden in 2020, and Why Congress is More Important Than the White House
by PJ Media
You won’t find it reported on the A-section pages of the New York Times or the Washington Post even though it is quite likely the most significant report produced by any investigative committee in Congress since the Church Committee in 1976. For those who need a refresher, the investigative committee…
The Media Made Sure This Election Was Never Going to Be Free or Fair
by The Federalist
The corrupt news media lied to voters on behalf of Democrats over and over ensuring an unfair election. How can we ever return to normal? It’s truly awe-inspiring to watch the news media berate Republicans, down to the very end, over the “free and fair” election we’re most certainly not…
“It’s Not Going to Be Close”: Mark Halperin Says One Key Voter Group Will Decide the Election
by Harold Hutchison, Daily Caller News Foundation
(DCNF)—Journalist Mark Halperin said on Monday that the turnout of women would decide the presidential election between former President Donald Trump and Vice President Kamala Harris. Trump leads Harris by 0.1% in a head-to-head matchup, according to the RealClearPolling average of polls from Oct. 11 to Nov. 3, with Trump’s…
It Was the Night Before the Election, and Everyone Was Freaking Out
by Michael Snyder
(End of the American Dream)—I have never seen so much doubt, worry, anxiety, fear and panic as we approach a presidential election. All over the country, people are freaking out right now. Democrats are freaking out because the early voting numbers are so dramatically different from 2020. Republicans are freaking…
