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The brinkmanship over the US debt ceiling by grandstanding Republican political circus freaks has impacted their ratings…

Ratings agency puts US credit on negative watch should lawmakers fail to raise debt ceiling

The ratings agency Fitch placed U.S. credit on a negative watch Wednesday as lawmakers struggle to reach a deal on the debt ceiling before the country goes into default.

America’s AAA rating, the highest possible rating, was put on notice for a potential downgrade if the White House and Republicans fail to raise the debt limit.

…the idea that malicious Republican monsters would be so self destructive that they would risk actually forcing America to its knees to justify ‘owning the Dems’ is political sadism at its most Amerikan.

While this insane game of chicken actually plays out with a genuine question mark over how far demented MAGA Qanon fuckwits are prepared to go to orgasm while inflicting vast damage to the superstructure of America, China is in a far more precarious position with their now event horizon black hole of real estate…

Jiangsu City Punishes Property Developers — For Selling Too Cheaply

Favorable discounts have been offered by developers in smaller Chinese cities where there is relatively more pressure to sell new apartments.

“It’s hard to tell what discounts can be offered once the sales resume,” Wang added. 

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Staff with the Kunshan housing regulator said the punishment aimed to push the developers to immediately correct their behavior and maintain the stability of the housing sector. “The unauthorized discounts have impacted the sales of the surrounding properties, which disrupted the normal order of the market,” the staff told The Paper, Sixth Tone’s sister publication.

The incident happened in the middle of a gloomy property market. In April, Kunshan saw the areas of newly built residential properties sold down by 14% compared with the previous month, which was consistent with the national trend, according to data from Zhuge Housing Data Research Center. And the average price was down by over 8% compared with March.

Lu Wenxi, an analyst at Centaline Property, said although the two Kunshan properties are not representative given their unfavorable locations, it is true that there’s a general lack of confidence in the market at the moment. 

“The significant reduction in trade volume in April has resulted in turbulent emotional responses,” he told Sixth Tone. Data from China Index Academy showed the total sales volume of the country’s top 100 property companies was down 17.4% in April from the previous month.

“The market remains in a recovery process. But to what extent it can recover, no one holds absolute confidence,” Lu added.

…when the State is punishing you for selling too cheaply because of fears it will spark a collapse is the last canary to die in the coal mine.

China’s real estate market is collapsing while America is held hostage to far right conspiracy theorists.

When economies collapse, war becomes the new daddy.

 

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