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Big trouble in Big China
Oct. 29th, 2011 02:16 pmhttp://finance.townhall.com/columnists/mikeshedlock/2011/10/29/china_real_estate_bubble_bursts_with_violence/page/full/
While the computerized imbecility of the so-called "markets" has been scaring itself stupid with absurd tales of the Euro's coming collapse, the Chinese property bubble has been showing every sign of bursting. It can't even be said that people haven't been paying attention; journalists, for once, have done their duty, and Europe's leading business newspaper, the Financial Times, has published reports that should have worried any business person with their heads other than in their anus. But alas, there is no shaking the hive mind. While property owners in Shanghai rioted against their own developers, the moron mob kept demanding more and more reassurances from basically solid Western European economies, and raising interest rates according to their own self-induced terrors, thus making matters much more difficult. But as there is nothing so bad that a really bad politician cannot make worse - and abominably stupid at the same time - those responsible for the new European stability fund have concluded their labours by carrying out a humiliating and entirely useless visit to China, begging the Chinese for money. China, you miserable idiots, is not your friend. They will do nothing to reinforce Europe, and at any rate they have big and swiftly increasing problems at home. You have sold our dignity for absolutely no advantage.
While the computerized imbecility of the so-called "markets" has been scaring itself stupid with absurd tales of the Euro's coming collapse, the Chinese property bubble has been showing every sign of bursting. It can't even be said that people haven't been paying attention; journalists, for once, have done their duty, and Europe's leading business newspaper, the Financial Times, has published reports that should have worried any business person with their heads other than in their anus. But alas, there is no shaking the hive mind. While property owners in Shanghai rioted against their own developers, the moron mob kept demanding more and more reassurances from basically solid Western European economies, and raising interest rates according to their own self-induced terrors, thus making matters much more difficult. But as there is nothing so bad that a really bad politician cannot make worse - and abominably stupid at the same time - those responsible for the new European stability fund have concluded their labours by carrying out a humiliating and entirely useless visit to China, begging the Chinese for money. China, you miserable idiots, is not your friend. They will do nothing to reinforce Europe, and at any rate they have big and swiftly increasing problems at home. You have sold our dignity for absolutely no advantage.
