https://x.com/BaldingsWorld/status/1872135170343727360
What I want you to notice is all this "stimulus" they are rolling out, what has been the biggest line item in EVERY announcement?
— Blume Industries CEO Balding 倧θζΏ (@BaldingsWorld) December 26, 2024
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Bank recapitalization. Most of the money is going to make sure the banks didn't collapse and they aren't even scratching the surface https://t.co/MGtY5q9OtI
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Ooh ooh I've seen this movie before!
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the PRC's youth unemployment and real estate collapse would be ruinous to any other country on the planet, but china gets away with it because their industrial economy is not only the largest on earth but also the fastest growing.
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Um the government isnt supposed to make a profit this is totally fine
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Chinese economy is going very well, exhibit A.
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That doesn't seem like much money tbh
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I think it converts to like 30 dollars Canadian
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Compared to, say, the amount the US Government spent on the 2008 bailout, it's not that much; adjusted for inflation, that was something like $550 billion. Though that was, more or less, paid back in the end.
At the same time, "not as bad as one of the worst financial disasters ever" is a bit of darning with faint praise.
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I expect to see them ramping up their effort in attracting foreign capital in the near future.
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There's nothing wrong with this just like how there's nothing wrong with the US bailing out it's own banks with loans.
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Snapshots:
https://x.com/BaldingsWorld/status/1872135170343727360:
ghostarchive.org
archive.org
archive.ph (click to archive)
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