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The Evergrande situation was a long time coming and China needed to rid this from their system. This is not a Lehman moment and this is not systemic,” Left told CNBC in an email


10 years ago, I wrote how the company is playing fast and loose with debt and using aggressive accounting to masquerade its true financial health. I continued to say how the company’s pet projects are costing billions in all off balance sheet financing,” Left said.


“Now everything that I wrote about has come to be true and the Chinese people are suffering. This shows the importance of freedom of speech and short selling in markets,” Left said.



The crisis will wipe out the company’s stock, Left predicted.


“The equity is worthless in Evergrande and bonds are questionable,” he said.


Chinese banks will take a manageable hit and the people will have a landing helped by the government,” he said. “I do believe this is not systemic and will not affect future investments in China or Hong Kong. I think the tech sector regulation is a lot scarier than this.”





that is from a pro........

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I wish they would stop coming out with this nonsense

It is one of Anglesea's most iconic landscapes, but the reason for its beauty is why it is now off limits.A 2 kilometre section of coastline in Anglesea called Demons Bluff was temporarily closed in March but the risk to human life of an inevitable landslip has led the Great Ocean Road Authority (GORA) to make the closure permanent.


The cliff line at Demons Bluff has eroded over tens of millions of years, creating the sandy beach below and towering red cliff face.

last time I looked, and in living memory of aboriginal migration, Bass Strait was not there and sea levels were much lower.

The Last Glacial Maximum (LGM) occurred about 20,000 years ago, during the last phase of the Pleistocene epoch. At that time, global sea level was more than 400 feet lower than it is today.


Now a 'spurt goes on to say :

The rock itself is about 20 to 30 million years old and it is right on what we would call rock; it has enough strength to hold up a cliff face but it is not hard enough to build anything out of...
... which is a different story. The rock is unconsolidated, friable Tertiary sediments.



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Speaking of nonsense, I just read that Marvel comics is having Superman 2 ( son of Superman and Lois Lane) coming out as gay in the next edition………..




“ He has been fighting a number of social justice issues, including tackling wildfires sparked by climate change and protesting the deportation of refugees.”


I guess the bad guys are breathing a bit easier now.


Spare me !!!!




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“This is not speculative in any way, we are acting on behalf of the coroner and in conjunction with the colonial orders,” said Detective Chief Superintendent Darren Bennett, at Monday’s press conference.

And we thought we'd left the colonial era behind !!



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