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China Evergrande shares sink 25% after wealth unit staff detained
(www.reuters.com)
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this post was submitted on 19 Sep 2023
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The wildest thing about this saga to me is how drawn out it's been. It's like there are a million invisible dominoes mixed in with the ones we see falling
Right like it's been such a long and bumpy ride it's like, wait didn't that company collapse already? Oh shit still holding on but still crumbling slowly. Pillars rotting from the inside and these giants falling in slow motion
How long can a state sponsored Ponzi scheme hold up in broad daylight?
Edit: not rhetorical
I was just discussing this with someone earlier today. It's been like ~20 years that Evergrande's been in business, right? Possibly more, that's a huge part of someone's entire career. That means that people could have joined the workforce and worked their way up into upper management purely just working on Evergrande's contracts.
How many angels can dance on the head of a pin?
Can God microwave a burrito so hot even he can't eat it?
These are the Days of our Lives...