I Watched 60 Minutes On China's Building Bubble.
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gotsnowgotslush
skates like Eck
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An empty city. No one planned to live there. The developer could not get more funding to finish.
Unfinished structures stand, open to the elements. What is it worth, when it falls to ruins ?
Unfinished structures stand, open to the elements. What is it worth, when it falls to ruins ?
shoulderblade
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Sympathy for the Devil.
They have to grow like hell to try to catch up with the rest of the world but in doing so they are destroying their own people. The ones that live in Weswtern countries are the fortunate ones.
jeninflorida
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the more troubling issue, if China implodes .... well obama has borrowed so much money from China that America would collapse.
just another example as to all the fucked up things the obama has done...
sad, obama, one epic failure after another
just another example as to all the fucked up things the obama has done...
sad, obama, one epic failure after another
gotsnowgotslush
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Every country does things, in their own eccentric and bizarre ways.
In America, people are thrown off their farms, out of their houses, so the banks can have new profits.
In America, people are thrown off their farms, out of their houses, so the banks can have new profits.
jeninflorida
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What? yeah, cuz that's what people do. we want to legally kick people off their property for no reason. holly fuck, you've been smoking too much of that obama juice
When you borrow money from a bank to buy property, the bank owns possession of that property until you fulfill the financial commitment you agreed to.
But then, even after you fulfill that financial obligation you agreed to with the evil capitalist bank, and finally hold free and clear title to the property, it's still not truly yours...
...for - and what you so conveniently omitted in your partisan, statist whine - people are also "thrown off their farms, out of their houses, so the" government "can have new profits", too; don't pay your mandatory property taxes and see how fast the government will auction your property off.
The difference is:
Once you pay off the evil capitalist bank you borrowed money from to buy the property in the first place, free and clear title to the property is yours and the evil capitalist bank has no further claim in your - supposedly - private property business...
...on the other hand, even though you hold free and clear title to property, the amount government charges you to occupy their property is totally eternal as long as the property exists - regardless of who has the pleasure of paying its taxes.
True ownership implies full control...
...government in the United Socialist State of America today maintains full control of all property. And, as long as you can cough-up the protection (property tax) money, the bozo who says, Trust me, I'm with the government , will never visit you to throw you off your farm, or kick you out of your house.
Seems so rich, though, that one would whine about the evil banks...
...but believe the government is justified in doing the exact same thing.
The Occupy trickle will remain just that as long as they partisanly choose to focus their pseudo-wrath on the evil banks...
...instead of aiming straight for the jugular of Leviathan itself.
But, alas, I forget who I post to...
...for you no doubt fully support Leviathan taxing all for the very climate we naturally breathe freely.
ONWARD TOWARD THE CLIFF!
fgarvb1
We are in for it now.
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What I watched.
Even discounting 50% for being CBS... WTF?
http://www.cbsnews.com/video/watch/?id=50142079n
http://www.cbsnews.com/video/watch/?id=50142078n
Even discounting 50% for being CBS...
WTF?http://www.cbsnews.com/video/watch/?id=50142079n
http://www.cbsnews.com/video/watch/?id=50142078n
ChinaBandit
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Yes, I am a pirate. A few hundred years too late. My wife and I've made enough money to buy Miami, we ain't gonna piss it away either.
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thirty
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I just talked a little bit about this with my colleagues.
The real estate markets in my city (Guangzhou) is okay, the housing prices are still reasonable.
I travelled to a small city in eastern China, I found miles and miles of new developed residential communities along the road, I didn' see any people there.
The real estate markets in my city (Guangzhou) is okay, the housing prices are still reasonable.
I travelled to a small city in eastern China, I found miles and miles of new developed residential communities along the road, I didn' see any people there.
doctor_insanus
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There are far more vacant homes in America than homeless people. It's just much more economical for banks to knock the buildings down than to actually let them be used.
Bankers and brokers learned a lot from the Great Depression. You won't see many of them missing a meal, no matter how bad it gets in this country.
4est_4est_Gump
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If 60 Minutes actually wanted to be relevant, they would wake the US to the education bubble.
4est_4est_Gump
Run Forrest! RUN!
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4est_4est_Gump
Run Forrest! RUN!
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Sympathy for the Devil.
They have to grow like hell to try to catch up with the rest of the world but in doing so they are destroying their own people. The ones that live in Weswtern countries are the fortunate ones.
They used to be, and maybe that facade is still about them, but they are turning back the clocks and surrendering the individual to the group and with the polity of the group comes central planning.
WeedSmoke420
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i seen some shit the other day on how they kill racoons, cats an dogs for fur an also food. the shit gross me out
4est_4est_Gump
Run Forrest! RUN!
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I call bullshit.
You have to have eaten a possum.
If you've been to Taco Bell, maybe even the 80:1 pick...
You have to have eaten a possum.
If you've been to Taco Bell, maybe even the 80:1 pick...
Adre
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^^^^^ Zero understanding of finance.
gotsnowgotslush
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Do Chinese banks treat their soldiers, better than American banks treat ours ?
700 members of the military were wrongfully evicted from their homes by major banks
http://www.salon.com/2013/03/04/banks_wrongfully_foreclosed_on_700_military_members/
700 members of the military were wrongfully evicted from their homes by major banks
http://www.salon.com/2013/03/04/banks_wrongfully_foreclosed_on_700_military_members/
jeninflorida
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Sean Renaud
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We don't owe China that much money. If they collapse we laugh about it.
Why don't you send Beijing a FOIA for your first clue...
