Not so Evergrande after all

[Bill Bonner’s Diary]( No So Evergrande After All By Bill Bonner Tuesday, September 21, 2021 [Bill Bonner] BALTIMORE, MARYLAND – We’re following a couple of different stories this morning. We tried to find a common storyline… but gave up. So we’ll report them separately. First, yesterday, we were reminded that there is no such thing as “Evergrande.” There is sometimes grande… occasionally not bad… and once-in-a-while fat and sassy. But Evergrande, it ain’t. At one point yesterday afternoon, the Dow was down about 950 points. The Wall Street Journal somehow managed to channel the anxiety of traders with this intriguing headline: Stock Market Falls on Chinese Property Fears How sweet. U.S. investors are so sympathetic! They ended the day down 614 points (1.8%) – out of sympathy for the poor Chinese. Of course, the problem the Chinese have is the same problem Americans have – too much debt. And the federales (at least in the U.S.; as for China, we don’t know) have only one remedy: more debt. Recommended Link [Bill Bonner: Shadow-Banned?]( [image]( Have [America’s top booksellers refused to carry Bill Bonner’s final book]( You won’t find new copies of Win-Win or Lose at Barnes & Noble… and not a single copy is floating around on eBay. In fact, the only used copy we could find was going for $79 on Amazon. Which is why Bill recently authorized us to take drastic steps to put a copy in your hands essentially free – as part of this limited time offer. [To claim yours, click here]( -- A Debt End Run The gist of the Evergrande story is that property development has been one of the places the Chinese have “invested” a lot of money over the last two decades. They built entire “ghost cities” in China – with thousands of apartments ready for renters who never came. The biggest single owner/investor was a company called Evergrande, which now carries $300 billion in debt. Trouble is, it’s hard for a landlord to pay down debt when his units don’t sell or rent. And now, word on the street is that Evergrande is broke. Naturally, investors are nervous. Sometimes, all it takes is one high-profile collapse to undermine the whole “Evergrande” fantasy. [Featured: Musk, Cuban, Branson and 7 of the World’s Biggest Banks ALL Piling Into THIS New Tech]( You Get What You Pay For Our second item is a reprise of yesterday’s Diary theme. [As we reported]( 1 out of every 500 Americans has supposedly succumbed to COVID-19. We say “supposedly” because there are no “facts” in the COVID story. There are only guesses and arguments – even about the cause of death. Here’s one “fact”: It is more profitable for a hospital to serve a COVID-19 patient than a pneumonia patient. The Kaiser Family Foundation studied hospital admissions and reported: …the “average Medicare payment for respiratory infections and inflammations with major comorbidities or complications in 2017 … was $13,297. For more severe hospitalizations, we use the average Medicare payment for a respiratory system diagnosis with ventilator support for greater than 96 hours, which was $40,218.” We assume that in 2020 and 2021, “severe hospitalizations” – and dollars to the medical industry – increased. “You get what you pay for,” are the immortal words of economist Milton Friedman. And since March 2020, the feds have been paying for COVID-19 by reimbursing hospitals for treating uninsured patients… and paying a 20% topper for COVID-19 patients. Recommended Link [Watch Now: Millionaire’s Horrifying Prediction…]( [image]( Teeka Tiwari – America’s No. 1 Investor – just made an outrageous prediction. Recorded live from his living room couch… He blasts Congress, reveals nasty truths about America… And reveals one technology set to radically change our nation. Already, 400,000+ viewers have checked it out. WARNING: This video may make you furious. [Watch His Urgent Video Now]( -- Glock 19 vs. COVID-19 But even if the death count really were 1 in 500, is that a big deal? Our guess is that the disease is a big deal to the one guy who dies from it (and his family). As to the others, not so much. Everybody’s got to die of something; why not COVID-19? Here in Baltimore, a young, Black man might have more to fear from the Glock 19 than from COVID-19. The COVID germ may be dangerous, but it lacks the penetration power of 9 mm ammunition. [Featured: Does Biden want to spy on your bank account?]( In 2019, it was reported that Baltimore suffered 58 homicides per 100,000 population. But the Glock 19 is even more “racist” than COVID-19. Most of its victims are young, Black males. For them, COVID-19 poses almost no risk. On the other hand, the odds of getting gunned down are probably a lot higher than 1 in 500. Why no bullet-proof vest mandate? Recommended Link [Why is Ford Piling Trucks into This Rural Kentucky Complex?]( [image]( [Click Here to Find Out.]( -- One Plan What we see in this COVID-19 story is a dangerous shortage of hands. All of the known information tells us there are many different ways to look at it. On the one hand… and on the other hand… But for the problem of too much COVID, as for the problem of too much debt, the federales seem to have only one message… one thought… and one plan, which they are determined to force onto everyone, whether they need it or not. More tomorrow… on what’s ahead for the U.S. economy… Inflation… deflation… or bust! Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Not so Evergrande after all). --------------------------------------------------------------- FEATURED READS [Biden Administration Extends Ban on Nonessential Travel]( Biden team extends nonessential travel restrictions between the U.S., Canada, and Mexico through October 21. This came after the announcement that all foreign nationals will need to show proof of vaccination come November. Some Republican lawmakers are fighting back… [China: What Is Evergrande?]( Rogue Economics colleague, Tom Dyson, wrote about Evergrande… Evergrande Real Estate currently owns more than 1,300 projects in more than 280 cities across China. The company expanded aggressively to become one of China’s largest… and now, it is struggling to make interest payments… MAILBAG The COVID-19 vaccine conversation – and vaxxed versus unvaxxed – continues… We, too, have opted, as a family, to give a miss to the experimental jab, but fully expect to come under increasing pressure, as the drums beat louder for us to toe the line. Lately, you have reasonably and clearly stated all the facts, well, as many of them as are available, and un-massaged and yet even quite a few of your readers seem to happily accept the official narrative, without a thought for how often the official narrative has changed. Masks are great – masks are largely useless. The vaccine will stop you from getting “it” – the vaccine won’t stop you getting “it” (but will reduce the effects). All we need is 70% vaxxed and we’ll have herd immunity – we can’t reach her immunity unless the whole population is jabbed… This scourge will kill us all. Kids are pretty much safe from serious harm from COVID – kids need to be masked and jabbed. Two jabs and you’re home free – continuous booster shots are going to be necessary to keep us all safe. I think you’ll find that all of the above narratives have, at one time or another, been espoused as the truth by none other than the great Dr. Fauci. Yet it appears that no one in the media seems to have even noticed the flip-flopping! Strange days indeed. – John S. I always enjoy your writings and perspective. I want to add something to your reader who said he doesn’t want to pay the medical bills for the unvaccinated. According to that logic, then, hospitals shouldn’t treat smokers, obese people, etc., because their behavior led to their hospitalization. By the way, if you eat your fruits and vegetables and for some reason are hospitalized, then they should refuse care because you didn’t eat organic. Where does it end? Keep challenging what we think we know. – Dimitrios T. In this world where “ME” is all that matters, it would be fine if an unvaxxed person could live in a vacuum and be completely isolated. But unfortunately family members and non-related persons are paying the price for their decision to not get the vaccine. Because hospitals are now full of sick, unvaxxed patients, this impacts far more than the unvaxxed person and their families. The hospital staff is getting sick/dying, or physically and emotionally burned out, from caring for people who could have avoided the hospitalization by getting vaccinated. Additionally, if a patient presents at the ER with non-COVID issues, they may be turned away because the hospital has no room due to treating unvaxxed patients. This happened in Alabama recently, where a man with a cardiac event had to be driven 200 miles to a hospital with an open bed in Mississippi in order to be treated. Sadly, he died, as is the case in many cardiac events if not treated immediately. If a person’s freedom to choose could be isolated so that no one else would be impacted, then fine. But unfortunately we live in a world where all decisions/actions are very interrelated and impact more than just “ME.” It is sad that in America, the hospitals are now having to ration care – and, unfortunately, it is the unvaxxed that are getting the top priority. If the unvaxxed want the freedom to choose to not get the vaccine then they should have to live, and die, with their “ME” decision – at home in the isolated world they believe they live in. – Dawn P. What other changes in the COVID-19 narrative have you witnessed, as John S. described? Bill says that gun violence in Baltimore is more deadly than COVID-19… is the government making too big a deal of this virus? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Not so Evergrande after all). IN CASE YOU MISSED IT… [Do You Have $19? (That’s All It Takes)]( “Hi, my name is Jeff Clark. 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