"The United States has a well-deserved financial reputation"
- Hillary Clinton, begging China to buy our bonds, February 20, 2009
Soot & Ashes Favourite Blogs
PerpWalkWatch - # of Hours New AG Eric Holder Has Let Angelo Mozilo Run Free
Eric Holder and Barack Obama
Failure to
Arrest
Angelo Mozilo
2862 Hours
(countdown suspended 6/21/2009)
ERIC HOLDER - YOU ARE A COWARD
DO YOUR JOB
(UPDATE 6.4.09 - SEC CHARGES MOZILO WITH INSIDER TRADING. YET ERIC HOLDER STILL SITS ON HIS ASS AND DOES NOTHING)
Posts
Comments
17 comments:
pretty f'in sad to she her go begging them to buy our bonds.
Have they no shame?
doesn't she realize the music has stopped and there aren't enough chairs for everyone to sit down?
Oh yeah, invest in the lie called China:
LA Times -- "Empty," says Jack Rodman, an expert in distressed real estate, as he points from the window of his 40th-floor office toward a silver-skinned prism rising out of the Beijing skyline.
"Beautiful building, but not a single tenant. Completely empty."
By Rodman's calculations, 500 million square feet of commercial real estate has been developed in Beijing since 2006, more than all the office space in Manhattan. And that doesn't include huge projects developed by the government. He says 100 million square feet of office space is vacant -- a 14-year supply if it filled up at the same rate as in the best years, 2004 through '06, when about 7 million square feet a year was leased.
Construction cranes jut into the skyline, but increasingly they are fixed in place, awaiting fresh financing before work resumes.
What makes this boom-and-bust cycle different from those in the West is that there is no private ownership of land in China, making local governments de facto partners in the real estate industry
The government spent $43 billion for the Olympics, nearly three times as much as any other host city. But many of the venues proved too big, too expensive and more photogenic than practical.
The National Stadium, known as the Bird's Nest, has only one event scheduled for this year: a performance of the opera "Turandot" on Aug. 8, the one-year anniversary of the Olympic opening ceremony.
A shopping arcade that stretches for a quarter of a mile across the street from the complex is empty, the storefronts papered over with signs reading "famous stores corridor."
"They wanted to build 'the world's biggest this' and 'the world's biggest that,' but these buildings have almost zero long-term economic benefit," economist Huang said.
American-style free-standing homes are being advertised for more than $1 million in gated communities with names like Versailles, Provence, Arcadia and Riviera. Within the Fourth Ring Road, a beltway that defines the central part of the city, two- and three-bedroom apartments are offered for $800,000 in compounds named Central Park and Riverside.
"These are like New York prices, but we are Chinese. We don't have that kind of money," said Zhang Huizhan, a 55-year-old businessman who owns a Chinese furniture factory. He has been looking for five years for an apartment for him and his wife within their budget of $150,000.
The average salary in Beijing is less than $6,000 a year.
Most of the real estate has been financed by Chinese banks, which have avoided writing down the loans. Eventually, they will be forced to, and that probably will have a ripple effect throughout the economy.
Buh-bye Schiff and Rogers' money.
Boo! Who's afraid of the big bad Chinese? Baloney. Please, stick to Chinese food, counterfeit, and xeroxing what Americans invent.
We are begging China to exchange the fruits of their labor and their resources for GREEN PAPER
We are past the all time high of global daily oil production (a.k.a. "peak oil"). The only reason gasoline in the USA is less than $3/gal and not $10/gal right now, is because all forms of consumer credit have tanked. The consumer debt securitization trade is NEVER going to come back (this trade alone accounted for between 40% and 50% of all car loans, house loans, credit card loans, in addition to countless amounts of funding for commericial and municipal debtors). True the FED could change the banking rules and let the banks flood main street with credit again... but the problem is that this action would spike demand for oil overnight sending gasoline to the moon. This would result in a crack-up boom and the dollar would lose all international value in very short order. So the Printing Press is no real option for the FED.
We are starting down the cliff of collapse, which allways follows a population overshoot. Life giving resources will become more valuable as we slide further and further into the abyss.
The global recovery will start as soon as the entire eco-system that man is a part of reachs a sustainable balance with the natural resources available.
The entire process of collapse may take years in fits or starts; or in the event of global war could be over in a short amount of time.
While in China I was amazed by their inefficiency. Everything has to go strictly by the book. No matter how inefficient or inappropriate for the situation at hand. Little or no ability to improvise. Maybe things work differently inside a factory, I don't know. Innovation and individualism are towards the bottom of their list of priorities. You have the queen bee and a bunch of mindless slave laborers. Taking into account their lack of resources (energy & farm land) and polution of their country I tend to be less bullish about China's future than most. If that's who is supposed to buy the trillions worth of treasuries we're producing we're in for a rude awakening.
The Chinese are downright stupid. They could have used their trillions of dollars to actually build a domestic market for the goods they produce but instead they kept buying U.S. Bonds so Americans can consume. Now what will they do when America defaults on their debt?
did chelsea come along and do the chinamen?
"The United States has a well-deserved financial reputation"
It sure does. After she made that statement, did she bend over and grab her heels?
Please import more lead diguised as childrens toys. We don't mind.
Thank you Chow Mein.
.
....had a
.
.
The idea of Hillary bending over and grabbing her ankles is too much
Thanks but No thanks.
.
"The Chinese are downright stupid. They could have used their trillions of dollars to actually build a domestic market for the goods they produce but instead they kept buying U.S. Bonds so Americans can consume. Now what will they do when America defaults on their debt?"
Debtors are usually not the ones to ask such questions. The Chinese will soon have one of the greatest "buy low" opportunities in history as American properties and companies go on the auction block. They wisely bought influence in Congress years ago, and they control our western seaports and both ends of the Panama Canal.
Now tell me again, who is stupid?
Why buy our bonds when they can buy our farmland/mines/forests? Start teaching your kids Chinese, folks.
Hilarious! Be careful when you get a domain name:
http://independentsources.com/2006/07/12/worst-company-urls
The failing financial reputation of the US is indeed well-deserved!
The Chinese will soon have one of the greatest "buy low" opportunities in history as American properties and companies go on the auction block.
Yep, I remember when the Japanese were doing the same thing, buying the Empire State, etc. The Japanese were the big shots and we're supposed to bend over and be scared of them. Look at the Japanese now.
Some of you kids are too young to remember that, and can't accept bearish markets because you never experienced one. Hell, you even think that Carter was a great president!
Now I let you all go back to your Wii game or Facebook activities.
Jesus Christ. Can't believe the racist whiteys on this thread. Chinamen, chow mein??? Go get an education and lets save our economy instead of blaming others, wigger.
Quote:
"Jesus Christ. Can't believe the racist whiteys on this thread. Chinamen, chow mein??? Go get an education and lets save our economy instead of blaming others, wigger."
-----
To offset the name calling for Chinamen and ChowMein, here is the great oracle from the famous snapper turtle about the fat-ass Americano:
#####
This nation and most of its citizens, residents, dwellers, occupants have no ethic, no moral, no responsibility, no duty, no honor, and last but not least, no brain. What it has in plenty is greed, self-centerness, self-righteousness, ignorance, pompousness, lust, materialistic craze. An Easter-Island society comprising of no family value, no respect or caring for the world and the land they live in, the surrounding environment, no caring, husbandry for the long term future
The housing bubble is a shiny mirror in which the Americano can look at itself and ponder upon what may the future brings upon this land of the Snapper Turtle AKA the land of the Skunk.
A nation that mostly comprises of wallowing, scaby pigs feeding, tearing, roosting, chomping at the trough.
A nation with most of its dwellers are obese, fat, diabetic, ignorant and plain ugly like a chimpanzee.
A nation where a Walmart cashier can buy a house for $500K.
A nation in which its citizen's brain IQ is lower than a snapper turtle.
A nation which rules by turkeys, skunks, and rats and occupied by turkeys, skunks, and rats alike.
The Americano nation is as toasted as a roasted snapper turtle skewered from head to ass on a Chinese green bamboo stick all sizzling, fat popping, juices oozing with melted golden fat over a bed of white hot charcoal.
::: Yummy grilled Snapper Turtle :::
::: Yummy roasted the Americano nation and the Housing Bubble :::
Post a Comment