#breakingnews is that the “troubled” #chinese #realestate #developer, #Evergrande has filed for #chapter15 #banruptcy in a #manhattan #court. The #evergrande #saga has been going on since #december 2021, when it first #defaulted on its #overseas #bonds. With this #latest #court #filing, the story has come “full circle”, portending a #turningpoint.

To be clear, #evergrande is not the “only” #chinese #realestate #firm in “trouble”. Over the last #week or so, #china has been rocked byva series of #defaults in its #shadow #banking #sector, as well as in its #property #firms, which when coupled with the #collapsing #remnibi, imply an #economy in “free fall”. No wonder #joebiden called #china a “ticking time-bomb” a few days ago, maybe with an insider’s sense of humor.

Not that the #unitedstates is any better, what with #biden himself in a soup with the #scandals surrounding #hunterbiden and with #donaldtrump threatening “civil war” as his #legal woes mount. Moreover, the #useconomy has been acting “weird” since the #pandemic with even the most celebrated #economists and #forecasters, scratching their heads over “contradictory” and “puzzling” #economic #data.

After all, what is “normal” about the #economy when the #labormarket is “hot”, and yet, #growth is ‘depressed’. More so, when #inflation is still high, despite the #ratehikes and at the same time, #consumerconfidence is #pessimistic. Adding to the “weirdness”, the #hyperpartisan #political #discourse portends a “dark” #future, and with #fitch downgrading the #creditrating, it sure looks like a “free for all” out there.

Turning to #europe, both #germany and #netherlands are in #recession, along with a “wobbly” #unitedkingdom confronting a worsening #costoflivingcrisis. The broader #eurozone is no better, with the #clubmed, barring #greece, staring at a #financial #abyss. Indeed, #putin has achieved more than he wanted with the #europeans being the proximate “victims”, and the #restoftheworld #collateral #damage. Of course, his “buddy” #xijinping finds himself in “hot water”, making us wonder about the point of the #ukrainerussianwar .

So, in a #globaleconomy on the “brink”, can #india continue being the “lone” bright spot for long? Or, will the #indianeconomy too feel the “heat” from the #global #headwinds? Maybe #modi can “steer” us through the gathering storm, or perhaps, #indians will find it hard to find the shore in stormy seas. Already, #inflation and gross #inequality are prompting #voters to look to the #congress again, as we saw recently in #karnataka, and indications are that the other #indian #states, with looming #elections might go for “change”. Of course, these would be the #semifinals for the ultimate prize, the 2024 #loksabha #election.

My guess is that we are  headed for a #constitutional and #economic and #social #crisis, in a #perfect #storm by  2024.

As China Implodes and Europe Totters, With A “Weird” US, Can India “Escape” The Coming Economic And Financial “Shitstorm”?

breakingnews is that the “troubled” #chinese #realestate #developer, #Evergrande has filed for #chapter15 #banruptcy in a #manhattan #court. The #evergrande #saga has been going on since #december 2021, when it first #defaulted on its #overseas #bonds. With this #latest #court #filing, the story has come “full circle”, portending a #turningpoint.

To be clear, #evergrande is not the “only” #chinese #realestate #firm in “trouble”. Over the last #week or so, #china has been rocked byva series of #defaults in its #shadow #banking #sector, as well as in its #property #firms, which when coupled with the #collapsing #remnibi, imply an #economy in “free fall”. No wonder #joebiden called #china a “ticking time-bomb” a few days ago, maybe with an insider’s sense of humor.

Not that the #unitedstates is any better, what with #biden himself in a soup with the #scandals surrounding #hunterbiden and with #donaldtrump threatening “civil war” as his #legal woes mount. Moreover, the #useconomy has been acting “weird” since the #pandemic with even the most celebrated #economists and #forecasters, scratching their heads over “contradictory” and “puzzling” #economic #data.

After all, what is “normal” about the #economy when the #labormarket is “hot”, and yet, #growth is ‘depressed’. More so, when #inflation is still high, despite the #ratehikes and at the same time, #consumerconfidence is #pessimistic. Adding to the “weirdness”, the #hyperpartisan #political #discourse portends a “dark” #future, and with #fitch downgrading the #creditrating, it sure looks like a “free for all” out there.

Turning to #europe, both #germany and #netherlands are in #recession, along with a “wobbly” #unitedkingdom confronting a worsening #costoflivingcrisis. The broader #eurozone is no better, with the #clubmed, barring #greece, staring at a #financial #abyss. Indeed, #putin has achieved more than he wanted with the #europeans being the proximate “victims”, and the #restoftheworld #collateral #damage. Of course, his “buddy” #xijinping finds himself in “hot water”, making us wonder about the point of the #ukrainerussianwar .

So, in a #globaleconomy on the “brink”, can #india continue being the “lone” bright spot for long? Or, will the #indianeconomy too feel the “heat” from the #global #headwinds? Maybe #modi can “steer” us through the gathering storm, or perhaps, #indians will find it hard to find the shore in stormy seas. Already, #inflation and gross #inequality are prompting #voters to look to the #congress again, as we saw recently in #karnataka, and indications are that the other #indian #states, with looming #elections might go for “change”. Of course, these would be the #semifinals for the ultimate prize, the 2024 #loksabha #election.

My guess is that we are headed for a #constitutional and #economic and #social #crisis, in a #perfect #storm by 2024.

As China Implodes and Europe Totters, With A “Weird” US, Can India “Escape” The Coming Economic And Financial “Shitstorm”?

breakingnews is that the “troubled” #chinese #realestate #developer, #Evergrande has filed for #chapter15 #banruptcy in a #manhattan #court. The #evergrande #saga has been going on since #december 2021, when it first #defaulted on its #overseas #bonds. With this #latest #court #filing, the story has come “full circle”, portending a #turningpoint.

To be clear, #evergrande is not the “only” #chinese #realestate #firm in “trouble”. Over the last #week or so, #china has been rocked byva series of #defaults in its #shadow #banking #sector, as well as in its #property #firms, which when coupled with the #collapsing #remnibi, imply an #economy in “free fall”. No wonder #joebiden called #china a “ticking time-bomb” a few days ago, maybe with an insider’s sense of humor.

Not that the #unitedstates is any better, what with #biden himself in a soup with the #scandals surrounding #hunterbiden and with #donaldtrump threatening “civil war” as his #legal woes mount. Moreover, the #useconomy has been acting “weird” since the #pandemic with even the most celebrated #economists and #forecasters, scratching their heads over “contradictory” and “puzzling” #economic #data.

After all, what is “normal” about the #economy when the #labormarket is “hot”, and yet, #growth is ‘depressed’. More so, when #inflation is still high, despite the #ratehikes and at the same time, #consumerconfidence is #pessimistic. Adding to the “weirdness”, the #hyperpartisan #political #discourse portends a “dark” #future, and with #fitch downgrading the #creditrating, it sure looks like a “free for all” out there.

Turning to #europe, both #germany and #netherlands are in #recession, along with a “wobbly” #unitedkingdom confronting a worsening #costoflivingcrisis. The broader #eurozone is no better, with the #clubmed, barring #greece, staring at a #financial #abyss. Indeed, #putin has achieved more than he wanted with the #europeans being the proximate “victims”, and the #restoftheworld #collateral #damage. Of course, his “buddy” #xijinping finds himself in “hot water”, making us wonder about the point of the #ukrainerussianwar .

So, in a #globaleconomy on the “brink”, can #india continue being the “lone” bright spot for long? Or, will the #indianeconomy too feel the “heat” from the #global #headwinds? Maybe #modi can “steer” us through the gathering storm, or perhaps, #indians will find it hard to find the shore in stormy seas. Already, #inflation and gross #inequality are prompting #voters to look to the #congress again, as we saw recently in #karnataka, and indications are that the other #indian #states, with looming #elections might go for “change”. Of course, these would be the #semifinals for the ultimate prize, the 2024 #loksabha #election.

My guess is that we are headed for a #constitutional and #economic and #social #crisis, in a #perfect #storm by 2024.

#breakingnews is that the “troubled” #chinese #realestate #developer, #Evergrande has filed for #chapter15 #banruptcy in a #manhattan #court. The #evergrande #saga has been going on since #december 2021, when it first #defaulted on its #overseas #bonds. With this #latest #court #filing, the story has come “full circle”, portending a #turningpoint.

To be clear, #evergrande is not the “only” #chinese #realestate #firm in “trouble”. Over the last #week or so, #china has been rocked byva series of #defaults in its #shadow #banking #sector, as well as in its #property #firms, which when coupled with the #collapsing #remnibi, imply an #economy in “free fall”. No wonder #joebiden called #china a “ticking time-bomb” a few days ago, maybe with an insider’s sense of humor.

Not that the #unitedstates is any better, what with #biden himself in a soup with the #scandals surrounding #hunterbiden and with #donaldtrump threatening “civil war” as his #legal woes mount. Moreover, the #useconomy has been acting “weird” since the #pandemic with even the most celebrated #economists and #forecasters, scratching their heads over “contradictory” and “puzzling” #economic #data.

After all, what is “normal” about the #economy when the #labormarket is “hot”, and yet, #growth is ‘depressed’. More so, when #inflation is still high, despite the #ratehikes and at the same time, #consumerconfidence is #pessimistic. Adding to the “weirdness”, the #hyperpartisan #political #discourse portends a “dark” #future, and with #fitch downgrading the #creditrating, it sure looks like a “free for all” out there.

Turning to #europe, both #germany and #netherlands are in #recession, along with a “wobbly” #unitedkingdom confronting a worsening #costoflivingcrisis. The broader #eurozone is no better, with the #clubmed, barring #greece, staring at a #financial #abyss. Indeed, #putin has achieved more than he wanted with the #europeans being the proximate “victims”, and the #restoftheworld #collateral #damage. Of course, his “buddy” #xijinping finds himself in “hot water”, making us wonder about the point of the #ukrainerussianwar .

So, in a #globaleconomy on the “brink”, can #india continue being the “lone” bright spot for long? Or, will the #indianeconomy too feel the “heat” from the #global #headwinds? Maybe #modi can “steer” us through the gathering storm, or perhaps, #indians will find it hard to find the shore in stormy seas. Already, #inflation and gross #inequality are prompting #voters to look to the #congress again, as we saw recently in #karnataka, and indications are that the other #indian #states, with looming #elections might go for “change”. Of course, these would be the #semifinals for the ultimate prize, the 2024 #loksabha #election.

My guess is that we are  headed for a #constitutional and #economic and #social #crisis, in a #perfect #storm by  2024.