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Heraclitusstudent
2014 Feb 19, 10:29am
Heraclitusstudent
2014 Feb 19, 10:29am
Like in the US, it appears it is less about what the rich do than about deliberate policies by the government to route savings into bad investments in an all-out effort to push short term growth - with catastrophic long term economic costs, as well as human cost.
Interesting report on China's housing bubble.
It all looks very familiar.
- people becoming mortgage slaves and paying every cents they make to the bank
- people living far out with long commutes
- Young engineers living at 4 in 1BR.
- people losing their life savings.
http://www.youtube.com/embed/-a9Xuyw9l3Y
#housing