Market volatility could spike in late November/early December just as liquidity walks away. Keep that in mind.
China's economy is basically a debt-driven Ponzi scheme.
Let's check on the charts and indicators.
With global energy woes, China real estate troubles and Washington's potential for disappointment, I'm moving toward some old income favorites.
Having a debt ceiling is foolish, it only ever matters to the party currently out of power and never really does what it was intended to... curb federal spending.
Evergrande has reportedly struck a deal to sell 51% of its property-management arm, which would raise US$5.1 billion.
However, mainland Chinese stocks were some of the most stable in the region, something of a surprise given power outages and systemic financial risk.
The big question is what Evergrande's troubles mean for China's real estate market more broadly, and the answer may be an unpleasant one.
The parent of Hainan Airlines looks set to emerge from bankruptcy after its top executives were arrested and the Chinese state stepped in.
The real crisis is not that the Evergrande story will be back, but that China isn't able and politically willing to be the global driver of economic growth it has been.