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China's Delinquent Loans Rise 333% Since End 2011

Tyler Durden's picture


Presented with little comment since our jaws just hit our chest - these stunning headlines from a PWC report:






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Wed, 09/19/2012 - 23:30 | 2813822 valkir
valkir's picture

Walking is dangerous than printing,bitchez.

Wed, 09/19/2012 - 23:36 | 2813839 Troll Magnet
Troll Magnet's picture

Corrapse, bitchez!!! Clash and bun!

Wed, 09/19/2012 - 23:40 | 2813843 nope-1004
nope-1004's picture

Why pay back a loan when you can use that money to buy more gold?  Makes complete sense.  The Chinese know full well that all fiat is headed toward worthlessness.

Prudent, IMO.


Wed, 09/19/2012 - 23:42 | 2813851 ACP
ACP's picture

I've actually wondered why more governments don't do that? Or maybe they are and not saying anything in order to prevent "gold envy."

Wed, 09/19/2012 - 23:47 | 2813855 TwoShortPlanks
TwoShortPlanks's picture

"you don't need to see the banks' books...these are not the loans you're looking for".

Wed, 09/19/2012 - 23:54 | 2813872 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

China, the biggest Ponzi scheme EVER!

Thu, 09/20/2012 - 00:19 | 2813910 Ineverslice
Ineverslice's picture

...brought to you by our blood thirsty friends with ever reaching tentacles.

Surprise...Pan fried-derivatives.

Thu, 09/20/2012 - 00:55 | 2813963 Richard Chesler
Richard Chesler's picture

But they can always rely on their "risk-free" US T bills. Right? right?


Thu, 09/20/2012 - 07:21 | 2814240 GetZeeGold
GetZeeGold's picture




Hey those T bills.....are freakin gold baby!


Thu, 09/20/2012 - 02:44 | 2813942 Bananamerican
Bananamerican's picture

are there still Mandarin immersion schools in NY?

"The Japanese will own us" -90's

"The chinese will own us" - 2000's

only amerika can take america down bitchez!

Thu, 09/20/2012 - 03:58 | 2814102 malikai
malikai's picture

Amerika has taken America down. Just wait until we need all that 'industry' we gave away for cheap trinkets and iPhones.

Thu, 09/20/2012 - 10:27 | 2814889 post turtle saver
post turtle saver's picture

The next mouth breathing dumbass that puts up another "US has no industry / manufacturing / Amerika" post on this board can EABOD and DIAF. Nothing, and I mean NOTHING, proves you're a bigger fool than believing that crap. You're not a human being, you're a parrot.

At least the western world has a reasonable audit function... every number out of China is flat out fucking FAKE. If you haven't figured that out by now you never will.

Thu, 09/20/2012 - 07:35 | 2814262 LongSoupLine
LongSoupLine's picture



"The Fed and Big Banks will own us" - 2010's

Thu, 09/20/2012 - 02:20 | 2814034 Dr. Engali
Dr. Engali's picture

Second biggest. We have them beat by a wide margin.

Thu, 09/20/2012 - 00:07 | 2813887 TwoShortPlanks
TwoShortPlanks's picture

Great form from the chick demonstrating Yoga on the carpet. She's skipping Plank and going straight to 'Upward Dog', what a pro!

Yoga tonight...a great perve...it's like soft porn, unplugged.

Thu, 09/20/2012 - 05:46 | 2814162 Drag Racer
Drag Racer's picture

oh, I just thought the guys behind her were holding signs with ratings of her ass...

Thu, 09/20/2012 - 03:17 | 2814074 Sphinx_www
Sphinx_www's picture

Remember all the phantom steel inventories report?

Wed, 09/19/2012 - 23:51 | 2813860 vast-dom
vast-dom's picture

no glot com fliday kwash bun redrum redrum drydrunk drydrunk 333% on the way to 666%

Thu, 09/20/2012 - 01:30 | 2813990 kalasend
kalasend's picture

too much peter chao

Thu, 09/20/2012 - 06:33 | 2814196 Fantasy Planet
Fantasy Planet's picture

No tickee, no laundering!

Wed, 09/19/2012 - 23:38 | 2813840 nope-1004
nope-1004's picture



Wed, 09/19/2012 - 23:33 | 2813823 Alpo for Granny
Alpo for Granny's picture

Wait..people are expected to pay back loans? That's soooooooo old fashioned.

Wed, 09/19/2012 - 23:33 | 2813833 km4
km4's picture

Unfortunate that China does not have the secret weapon of CTRL-P and the Ben Bernank ;)

Wed, 09/19/2012 - 23:34 | 2813834 gavroche76
gavroche76's picture

Reality just hit the Great Wall.

Thu, 09/20/2012 - 02:46 | 2814053 Zero Debt
Zero Debt's picture

Bullish for delinquent loans.

Thu, 09/20/2012 - 05:51 | 2814167 TIMBEEER
TIMBEEER's picture


Wed, 09/19/2012 - 23:35 | 2813837 russwinter
russwinter's picture

Must really be bad for the non-transparent Chinese to at least in part fess up. 

Wed, 09/19/2012 - 23:35 | 2813838 CURWAR2012
CURWAR2012's picture

is that chick giving a blow job for free?


Thu, 09/20/2012 - 01:04 | 2813976 Dr Benway
Dr Benway's picture

I can tell that's an alien concept for you

Thu, 09/20/2012 - 08:12 | 2814325 the not so migh...
the not so mighty maximiza's picture

naa, she is ready to get mounted cave man style.

Wed, 09/19/2012 - 23:39 | 2813846 TheSilverJournal
TheSilverJournal's picture

This just shows how much of a boom China is set for. The rest of the world is printing into a frenzy to postpone this type of thing from happening, while China sits back and shores up its fundamentals.

Thu, 09/20/2012 - 10:30 | 2814897 post turtle saver
post turtle saver's picture

ROR! "Chinese financial fundamentals", what a riot! You should take that act on the road.

Thu, 09/20/2012 - 10:37 | 2814921 TheSilverJournal
TheSilverJournal's picture

Just look at how much they export. That shows how strong thier fundamentals are. When they stop supporting other countries, they will consume those products that they currently export themselves and they will boom.

Thu, 09/20/2012 - 10:42 | 2814940 Chump
Chump's picture


Thu, 09/20/2012 - 12:44 | 2815326 TheSilverJournal
TheSilverJournal's picture

Apparently, today ZHers are choosing to believe that it's spending and consumption that makes an economy more prosperous.

Thu, 09/20/2012 - 17:21 | 2816304 Chump
Chump's picture

Well, I didn't junk you, but I do think you're being way too simplistic.  They make and export cheap plastic shit, basically (that is also admittedly simplistic).  They're trying to make their way into heavy construction equipment but their product lines and presentation in Europe and America are raffable in the extreme.

Do you really think that if we stop buying their exports their citizenry is going to up and consume a shit load of iPhones?  If so, why aren't they doing so now and booming to Mars and beyond?  If our economy crashes, do they just nationalize all of the multinational corporations' factories and continue on as if nothing happened?

They've enslaved their citizens, they've poisoned their earth, and with no one to export to the factory workers go back to the rice paddies or kill themselves (or march off to nearest war, given the current climate).

We are no better, and our service/consumption based economy is also no better, but it's false to say that because our fundamentals are untenable then theirs are.

I am clearly not an expert here, so any clarification and correction is welcome.

Thu, 09/20/2012 - 23:39 | 2816912 TheSilverJournal
TheSilverJournal's picture

The ONLY reason to export is to in turn import.

China is exporting a lot of stuff to the US for a poor exchange of goods in return. For the most part, what they get in exchange is digital fiat. China is doing themselves a world of harm by exporting us their real goods that took real resources and real labor to make in exchange for digital dollars, which will soon vanish into the thin air they came from.

Yes, when China stops getting screwed by this game, they will consume their own products, albeit there will be a cost to retooling their factories.

Wed, 09/19/2012 - 23:44 | 2813852 Desert Irish
Desert Irish's picture

So delinquent loans are on track to exceed the $160 billion stimulus package...how does that work? And China is the engine of growth that is going to drag the west out of this recession? God help us....

Thu, 09/20/2012 - 00:52 | 2813960 LMAOLORI
Thu, 09/20/2012 - 07:35 | 2814259 Urban Redneck
Urban Redneck's picture

No they're not buying "our" debt (any more).  They're buying oil to fill their new SPRs, they're buying huge inventories of commodities which you can't eat and which pay no interest, they're buying tons barbarous relics,  they're buying foreign corporations with tangible assets,  they're buying access to raw materials,  they're buying foreign influence.  And with the growing pile of F/X reserves that they are amassing on top of all this buying and spending, they are not buying more UST, they are stockpiling other people's IOUs.

China hasn't bought any additional Treasuries in FY/CY 2011 or 2012

September 2010 - Chinese UST Holdings 1151.9B

June 2012 (Most Recent Comp) - Chinese UST Holdings 1147.0B

Net US Treasury Holding Change -0.4%


September 2010 - Chinese F/X Reserves (ex. gold) 24542.75B

June 2012 - Chinese F/X Reserves (ex. gold) 32400.05B

Net F/X Reserves Change +32.0%



While the US fiscal year ends in 10 days, corresponding CNB data won't be available until the calendar year end.

Wed, 09/19/2012 - 23:43 | 2813854 JackT
JackT's picture

Wife asked why I was laughing. I tried to explain, the "jaw dropping", and the photo of the jet...but it's just one of those things you either get it or you don't.

Thu, 09/20/2012 - 03:04 | 2814058 TruthInSunshine
TruthInSunshine's picture

You forgot about China's "stealth fighter."

The secret to it's lethality is tricking those on the ground that it's a freight train, and not an aircraft, approaching. Very clever.

Video Of Chinese J-20 Stealth Fighter Leaked | ZeroHedge


And that does it, when I have kids, I'm teaching them Burmese, not Mandarin.

Burma's the next BBRIC.

Thu, 09/20/2012 - 07:27 | 2814251 JPM Hater001
JPM Hater001's picture

China's stealth fighter is nothing to our flying disc technology (actually I think they went with a triangle but not matter...).


Wed, 09/19/2012 - 23:48 | 2813858 hmmtellmemore
hmmtellmemore's picture

Link to original report?

Wed, 09/19/2012 - 23:52 | 2813869 Ineverslice
Ineverslice's picture

Bottom falls out and the chick's i-phone falls clear through to Detroit.

Soft landing...Check.


Thu, 09/20/2012 - 05:54 | 2814168 TIMBEEER
TIMBEEER's picture

After a few hasty, fearful looks at the achievements of the (politically correct censorship here) mayor, and his (pc censored) voters, she will jump back into the hole!

Wed, 09/19/2012 - 23:56 | 2813877 Conman
Conman's picture

Its ok they have those warehouse full of steel for assets... oh wait.. oh shit..

Wed, 09/19/2012 - 23:57 | 2813880 Uber Vandal
Uber Vandal's picture

I find myself saying "Aw fuck" outloud quite often lately when reading articles here.

I guess I'm alright until I find myself shouting "Oh, Fuck me!!".

I have a feeling that day is coming soon for many, if not all, of us.

Thu, 09/20/2012 - 05:56 | 2814170 TIMBEEER
TIMBEEER's picture

Perhaps your second shout is what was on the mind of the chinese chick bending down on the carpet?

Thu, 09/20/2012 - 00:01 | 2813885 monad
monad's picture

Lots of titanium in China.

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