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China. There are official statistics and there are statistics. NBS China says that existing home prices are down 13.6% from 2021 peak. But Centaline data says that the fall is double that and prices are back to 2016 levels.
Leverage is lower but housing is the main store of
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China. There are official statistics and there are statistics. NBS China says that existing home prices are down 13.6% from 2021 peak. But Centaline data says that the fall is double that and prices are back to 2016 levels.
Leverage is lower but housing is the main store of Chinese household wealth. It is devasting for consumer confidence.
It's no wonder that total bank loans fell for the first time since 2005 when China was a small economy.
A balance sheet recession is underway. The implications for the rest of the world are not pleasant.
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China Just Lost 25 Years of Export Gains — China’s Share of U.S. Imports Collapsed to 7.5%.
Peter Schiff Is Right About Many things — And Wrong About China.
China spent 20 years becoming the world’s factory.
Now one number tells you that era is ending.
China’s share of U.S.
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Another Russian attack is still ongoing: since last night, there have been almost 500 drones – a large number of “shaheds” – as well as 40 missiles, including Kinzhals. The primary target is Kyiv – energy facilities and civilian infrastructure. Regrettably, there have been hits,
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Kash Patel needs to be impeached immediately for blatantly lying to Congress about the Epstein files.
Here he claims that there is no evidence of anyone being being trafficked to other individuals.
"There is no credible information that he trafficked to other individuals."
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