EP 2729-8AM We've Passed The 'Zenith' - EverGrande DEFAULTS - CONTAGION Will Spread Like WildFire

EP 2729-8AM We've Passed The 'Zenith' - EverGrande DEFAULTS - CONTAGION Will Spread Like WildFire 

Evergrande, China’s Ponzi property developer, is now officially in default as Fitch has confirmed the indebted company has missed interest payments on bonds, with over $300 billion in bonds outstanding. Property developer Kaisa is also named in the default decision, and there are nearly a dozen other Chinese property developers that are widely believed to be on the path to default.
“This is not just a default of Evergrande, this is a default of China and the banking system,” Dan David told Fox Business this morning (see video below). “Now they’re going to have their Bear Stearns moment,” he added, referring to the 2008 sub prime housing bubble collapse in the USA.
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