The magnificent brand new city of 12 million in China

[golfguru]

Watch the video!

http://blog.eyeblast.tv/2011/04/chinas-ghost-cities-and-malls/

Except it was planned by government bureaucrats and so you can see the results
for yourself.

[Taverner]

1. Grow! Grow! Grow!

Growth is the ONLY measure of a country!


:sarcasm:

[provis99]

2. the rotting city of Detroit.

http://www.youtube.com/watch?v=T6WKMNmFsxM

Maybe the Chinese are doing something right and we are not?

[golfguru]

3. We are shipping millions of jobs to China

by buying all sorts of goods from them. Wal-Marts are stocked to the
ceiling with them.

As for Detroit, it is dying because union jobs have disappeared to S. Korea
and Japan and Southern states. But at least we did not waste money building
empty cities like China has done.

[KurtNYC]

4. China builds empty buildings; we fight 3 wars

capitalism grows on waste (until it collapses).

If China wants that empty city blown up they should call us. And then we can do it all over again and again....

[golfguru]

5. You got that right n/t

[AtheistCrusader]

8. Yeah, but we are paying for both.

They can build those cities on the interest payments we make on our debt. Free stuff for them.

(Until we implode.)

[golfguru]

9. Exactly right...China can build and build using our interest payments

China is also buying US Stocks & companies & land in US.
That is what happens when you go in debt. Not only you have to pay
the principal back, you also have to pay the interest every year.

[pa28]

6. Great piece.

I found myself rooting for the couple in the Beijing hutong that could not afford bubble price housing. I hope they realize they'll be able to buy the house of their choice for a fraction of the price if they just save and wait.

[golfguru]

7. The coming Chinese bubble bust in real-estate

will make ours look like a Sunday picnic. I have an acquaintance in
China who bought a condo for 350,000 yuan and is now valued at 1,400,000 yuan
in a span of little over 3 years. That is 4 times in 3 years!