China's Ghost Cities and Malls
- Thread starter Phil C. McNasty
- Start date
64 million vacant apartments, can't sell for $75-300.000.00 50% down payment is required.
Average income is only $6000.00 per year. Canadian population can live there, live in a apartment and rent an other for an investment.
People are ready to revolt according to economists.
Average income is only $6000.00 per year. Canadian population can live there, live in a apartment and rent an other for an investment.
People are ready to revolt according to economists.
At that point my money will be on all external communications going dark, until the problem is dealt with and eliminated.
Scary...
Makes you wonder if some of those Chi-Coms went to the same `fuzzy numbers` Business Schools a few of our Terbies attended???....
Hmmmmmm....
Makes you wonder if some of those Chi-Coms went to the same `fuzzy numbers` Business Schools a few of our Terbies attended???....
Which one?
The Americans are no better. Just take a look in DC and those states in financial distress.
BTW, just wait another bubble to burst on top of the Ghost cities and malls, namely, the debts mature to finance the building of numerous under-capacity infrastructures like half-empty airports, and railway stations that cater to high speed trains.
Let see whether the spike of non performance loans on the Chinese banks books would make a vengeance, like China in the late 90s.
I have seen a similar piece like this late last year. This one just confirms my thoughts that within a couple of years the bubble is going to start to loose air maybe a crash. This doesn't look good for the world economy. Problem is for the little guy like me how do I protect what little I have in assets before things go south, worst than the '08 crash to avoid loosing everything. This is what i have to work on and quickly.
ROFLMAO, it was actually a Chinese national (Chi-Coms) who introduced Gaussian copula models that allowed for the rapid pricing of CDOs.
Needless to say, the rest is history. Too bad you Americans could not get this Chinese man for questioning.
If it is the Chinese government that built and owns the properties, then they don't have to drop prices to sell. No bankers, no mortgages, no motivation, no bubble to burst, maybe.
I want you guys to vote NDP or Liberal,-please. Because its working so well over there!!
Any Americans on Terb please vote Dems or Ron Paul, guaranteed to get you guys out of the recession!
Any Americans on Terb please vote Dems or Ron Paul, guaranteed to get you guys out of the recession!
Crazy stuff.
China is polarising to be sure between incredibly rich and incredibly poor.
They've built all those buildings for middle class people, but there are no middle class people.
Beyond the stupidity of it all, one wonders about North American society and the disappearing middle class here. Our capitalists in their unquenchable greed have shipped off all the solid middle class jobs in manufacturing to China so that they can enjoy higher profit margins.
How soon before Canada and the US become countries of either incredibly rich, or incredibly poor.
China is polarising to be sure between incredibly rich and incredibly poor.
They've built all those buildings for middle class people, but there are no middle class people.
Beyond the stupidity of it all, one wonders about North American society and the disappearing middle class here. Our capitalists in their unquenchable greed have shipped off all the solid middle class jobs in manufacturing to China so that they can enjoy higher profit margins.
How soon before Canada and the US become countries of either incredibly rich, or incredibly poor.
Yes there needs to be tax reform to address the disparity of wealth. They need to move the current top tax bracket up to 100K and add a 4th bracket for over 300K that is about 25% more ... and a 5th for over 1M that is about 75%
