Joe Hoft from the Gateway Pundit was on with Steve Bannon this evening to discuss the financial crisis in China. The Evergrande crisis today is just one clue of China’s economic woes.
Earlier today Joe wrote an article about the crisis in China.
In the article, it’s pointed out that China has been in a financial crisis related to its real estate for years. The Evergrande failure today is just the beginning of the fall of the Chinese real estate market.
In addition, China is cutting off electricity one day a week and additional information coming out of China is that manufacturing concerns are now only working three days a week. The Chinese economy is in trouble.
If not coming, it’s already here, Steve. [Joe’s response to Steve Bannon’s question about a financial crisis coming to China.]…
.The problem that China has is similar to 2008, it’s the same problem. They overbuilt real estate and they’re aren’t people in the real estate that can afford it and can live in it. So they have all this property, it’s a reals estate crisis, all this property that is setting all over the place, all over the country, that has been built but there’s just nobody in it…
Joe can be reached here at The Gateway Pundit and at Real Talk 93.3.