Hello.

Welcome to the Too Big to Disappear episode of Slate Money, your guide to the business and finance news of the week. I'm Felix Salmon of

Axios. I've got the whole crew here. I've got Stacey Marie Ishmael of Bloomberg at Bloomberg in

Bloomberg. All things, Bloomberg, here on Slate Money. We have Emily Pecker Fundrise.

Hello, hello. We are going to talk about

Evergrand. We are going to talk about geopolitics. We are going to talk about submarines. We are going to

talk about the corruption of the Treasury Department in Slate Plus. What else are we talking about?

We have a jam-pack show this week. We are going to talk about the debt ceiling. Of course, we have to talk about the debt ceiling. We're jam-packed show this week. We are going to talk

about the debt ceiling. Of course, we have to talk about the debt ceiling. We're going to talk

about basically everything except for platinum coins. Everything you need to know about anything

is coming up on this show. It's a relatively short but very dense and super meaty and lots

of fun show. It's all coming up on Slate Money.

I spent all week trying to figure out Evergrand, and I feel like I understand it a little bit.

I'm curious what you think. Nice. All right. I want you to explain it to me. Emily, what do you

think? All right. I'm cracking my knuckles here. I've listened to

odd lots and read some articles. So here we go. Evergrand is a giant Chinese real estate developer.

They build stuff and own stuff real estate-wise. They also own other weird things like electric vehicles and

soccer team in China. They're huge. They borrow lots and lots of money and it winds up in all

kinds of places all over the global economy and they don't have enough money anymore to

pay their debts, $300 billion in debt.

And so this week, that all kind of came to a head and people started freaking out and saying

Evergrand is that some people saying, actually, I saw some people apparently were saying it's the

...