Well the official denial is out now.

You never can believe something until the official denial comes out.  Remember when the real estate collapse hit in 2007-2009?  Bernanke said "subprime is contained".  And so now we have from the Chinese central bank the following statement:

Evergrande Risks Are ‘Controllable,’ China’s Central Bank Says Amid Growing Fears

Of course this is far bigger than Evergrand.  Evergrand is just the tip of the debt Ponzi iceberg.  We ain't seen bad yet, but it's coming.