Chinese police swoop on $7.6 Billion ‘record-breaking online Ponzi scheme’

Post by muddyrivers » Mon, Feb 01, 2016, 5:15 PM UTC

shaurz wrote: post #19

sharetea wrote: post #17

The China's own ponzi economy will be mirroring the collapse of Ezubo . "So in two short decades, China has erected a monumental Ponzi economy that is economically rotten to the core. It has 1.5 billion tons of steel capacity, but “sell-through” demand of less than half that amount.... The same is true for its cement industry, ship-building, solar and aluminum industries—to say nothing of 70 million empty luxury apar…

Anything for more GDP growth! I wonder if the insane over-provisioning is a genius scheme to monopolise worldwide manufacturing for a century (even at massive cost to their population) or just a drive to keep up unsustainable growth statistics. Either way the game will be up eventually...

Post by sharetea » Mon, Feb 01, 2016, 5:24 PM UTC

muddyrivers wrote: post #23

sharetea wrote: post #17

The China's own ponzi economy will be mirroring the collapse of Ezubo . "So in two short decades, China has erected a monumental Ponzi economy that is economically rotten to the core. It has 1.5 billion tons of steel capacity, but “sell-through” demand of less than half that amount.... The same is true for its cement industry, ship-building, solar and aluminum industries—to say nothing of 70 million empty luxury apar…

There are many serious issues in China's economy. Unfortunately, there are no feasible way to avoid them considering the hyper-growth in 30 years, as far as we as a society know. If you have thoughts and ideas, please share. Call it "Monumental Ponzi"? I suggest you to do one of two things. Either do some serious study in economics and live and do business in China for a couple of years to see what it really is, if y…

Post by Mikeb85 » Mon, Feb 01, 2016, 5:29 PM UTC

kaonashi wrote: post #25

sharetea wrote: post #17

The China's own ponzi economy will be mirroring the collapse of Ezubo . "So in two short decades, China has erected a monumental Ponzi economy that is economically rotten to the core. It has 1.5 billion tons of steel capacity, but “sell-through” demand of less than half that amount.... The same is true for its cement industry, ship-building, solar and aluminum industries—to say nothing of 70 million empty luxury apar…

That's not a Ponzi scheme; that really doesn't have anything to do with Ponzi schemes, I wonder why you even bring it up?

Post by toomuchtodo » Mon, Feb 01, 2016, 10:58 PM UTC

shaurz wrote: post #20

Chinese people have amassed a lot of wealth but their investment options are very limited. Hence the Chinese stock market bubble, property-building bubble and Ponzi schemes.

Post by dogma1138 » Wed, Feb 03, 2016, 8:16 PM UTC

dangerpowpow wrote: post #18

dogma1138 wrote: post #11

Earlier quoted context omitted.

Again you don't run a ponzi scheme on that scale using "basic bookkeeping skills", you need to be a heck of an accountant to make sure that you have enough cash flow to pay out returns and make enough legitimate investments and constantly keep the money moving to make it appear that it's still there. If you just base you ponzi scheme on I take 50% of every new payment and give out the previous 50% to my previous inve…

Those are usually not as hard as they sound.