Funny how the Chinese, being a command-and-control economy, over-invested in real estate. I've been thinking for a few weeks now that the US has, by dint of globalized competition that favors huge enterprises dominating vast swaths of the global economy, and by the regulatory capture of the government by these entities, become the Soviet Union in 1985, with a twist that the small number of people at the helm of our command and control economy are in the private sector. Or are they in the government? Or do they pretty much flow back and forth between the private sector and the government? Could it be true? Let's examine the evidence:
- We're in debt up to our eyeballs - Congress continues to pass Fantasyland budgets - We're over-extended militarily, and losing, in Afghanistan - We're very worried about our relationship with China - We have vast swaths of unoccupied residential and commercial real estate all around the country - Our government is acting a bit too much like Big Brother - The revolving chairs of government and industry give a small number of people control over both the private sector and the public entities meant to restrain the private sector In many ways, we're in the same position as the Soviets were then. What are we going to do, wait until the whole thing implodes like they did? We'll make some attempts at reform, sure. But we'll fail because the system is broken. And it comes down to the same damn thing that did in the Soviets - too much power in the hands of too few people with little or no accountability to the public. On Wed, Apr 6, 2011 at 9:41 PM, Gruss Gott <[email protected]> wrote: > All that money you (and all of us) made buying and selling homes > starting in the 90s was actually borrowed money. > > You used all that money to buy all kinds of stuff and we built an > entire economy around that flood of borrowed money (70% of our > economy!). > > Now the borrowing has stopped, except by the Fed. And soon enough > they'll have to stop. QE2 ends in June. > > Interestingly, it's playing out in a bizzarro way in China. > > Because they have a command economy it's their government that's > actually putting all their capital to work building "ghost cities" > that nobody can afford to live in. Creates jobs, builds > infrastructure, but nobody can afford it! > > Fascinating! > > http://www.dailymail.co.uk/news/article-1339536/Ghost-towns-China-Satellite-images-cities-lying-completely-deserted.html > > Great video here: > http://www.sbs.com.au/dateline/story/watch/id/601007/n/China-s-Ghost-Cities > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:336052 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
