Tuesday, April 12, 2011

Building Pyramids

Remember the video on the empty Chinese city called Ordos that made the rounds? Well, I came across this interesting video by Australian Dateline on more empty Chinese cities, excuse me I meant to say teh economic miracle that is China. Of course I am fretting over nothing as China's GDP numbers are wholly believable, about as believeable as the Japanese government's statements regarding the Fukushima nuclear plant.

Better yet lets get a snapshot of the situation from boots on the ground, Hong Kong based, real estate analyst Gillem Tulloch in the segment;

"It's essentially the modern day equivalent of building pyramids".

Thank you Gillem.

I would like to quote the heavily accented cleaning company owner in the movie Wall St. and say "thank you for telling us what we already know" but unfortunately the virus called Keynesianism with the hideous symptom called stimulus, spreading like wildfire infecting so many innocents that one cannot assume anything less doing so and making an ass out of u and me (assume).

Watch the video below, You won't be disappointed when you see the size of the ponzi, errr excuse me, the phenomenal growth there.

After watching it, you might be able to commiserate with the toy store owner in the South China Mall (at beginning of the video), if you or your broker talked you into any of those piece of garbage Chinese reverse merger stocks listed over here that are blowing up daily and most assuredly hourly in short order.

Actually in case you were wondered where all those highly skilled senior vice-president/managing directors, global ponzi specialists from Lehman, Bear, Merrill, Countrywide, Fannie and Freddie ended up after the mirage here blew sky high wonder no more. They are manning the Chinese reverse merger desks across the globe.

Global ponzi specialist. I love it !

Nice resume, eerrrr excuse me, C.V. as they call it in the Ivy league, enhancer. Hey, another monicker GPS to put on that business card. Funny! Way too funny!

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