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105

China Rejects $1 Trillion Housing Rescue Plan Pitched by IMF (finance.yahoo.com)

submitted 1 month ago by [email protected] to c/[email protected]

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“It would be inappropriate for the central government to directly provide fiscal support, as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.

Ouch, no handouts for the financial bros...😂

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[–] [email protected] 33 points 1 month ago

When you know that capitalism can only be maintained by injecting massive amounts directly into big companies and banks, paradoxically applying the "econ 101" logic of "if a company fails, they weren't good enough" is the anti-capitalist move. China is letting the private sector reach its inevitable end.