US Stocks Plummet as “China’s Lehman” Evergrande Reaches Brink of Collapse
Two weeks ago The Gateway Pundit warned that Evergrande is preparing for bankruptcy.
The problem is Evergrande is five times the size of Lehman Brothers, made famous in the 2008 crash in the US.
On September 7, Zerohedge shared:
With algos busy chasing upward momentum in futures and global stocks, the biggest – if largely ignored story – remain the ongoing collapse of “China’s Lehman“, the $300+ billion China Evergrande, where following our earlier reports (see below) that a bank run emerged among creditors of the biggest and most indebted Chinese developer as its bonds were no longer eligible collateral in the repo market after a ratings downgrade,
