WORLD ECONOMIC COLLAPSE China's Ghost Cities

[marmar]

Run time: 14:38 https://www.youtube.com/watch?v=nG8u9HgbRJk   Posted on YouTube: November 18, 2011 By YouTube Member: riseingstardust Views on YouTube: 64   Posted on DU: November 19, 2011 By DU Member: marmar Views on DU: 1792

 

[Pharaoh]

1. How insane! n/t

[CrispyQ]

2. That was amazing.

How can that toy shop owner stay in business?

I had to back it up to make sure I heard it right. A duplex selling for just over $300K & you have to put 50% down & pay the balance in 3 years. :wow:

How can this not be a huge disaster for them in the future?

[fasttense]

3. And Michele Bachmann wants the US to be more like this?

She really is an idiot.

Well, this proves that supply side economics does NOT work.

Look at all the supply in housing. So, where is the demand?

[gtar100]

4. Maybe they ought to consider paying the workers living wages

so that they can then partake in the 'consumer culture'.

This looks like a result of supply-side economics. Build-build-build...somebody profits on that part; but it's not their problem after that.

[femrap]

5. I've heard of these empty cities

before. China is a 'Command Economy' not a 'Demand Economy.' Using farmland for empty cities is not very smart. Appears the leaders of China are as stupid as the leaders in the US.

It will all fall down soon...and Humpty Dumpty will never be the same. This current paradigm is burnt toast.

[Hydra]

6. The current paradigm puts profit over people

Which is why it's bankrupt from the beginning.

How many people could they simply build homes for, instead of making worthless paper "growth"?

[femrap]

7. From what I've read,

the Regional Managers are given 'targets for growth' that they must reach....so they just build crap on farm land.

I remember reading that when Stalin was 'leading' the USSR and they had all of those 5 and 10-year plans. He insisted on so many shoes being made. So Stalin ended up with so many 'left' shoes...no right ones. LOL!