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Evergrande = EverScammed - why the debt bomb contagion will spread globally

The Evergrande ("EverSCAMMED") fiasco is nothing more than a classic Bernie Madoff Ponzi scheme involving property developers and greed-driven investors who chased high returns while forgetting about the existence of risk. Buoyed by a flood of incoming investment money, Evergrande churned out entire "ghost cities" of apartment buildings across China, selling the ludicrous idea that these apartments would generate insane returns for those who participated. Now it's all imploding in a classic Ponzi collapse. And the contagion will likely spread to other countries, affecting banks, institutions and more. The avalanche has been initiated. Get full details in today's article and podcast here.

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