patrick.net

informative, thanks for sharing

mental note: don't buy property in China lol

I'm cancelling my escrow first thing in the morning!

Thanks, those are pretty interesting videos.

It's kind of amazing that prices don't plummet given so much empty housing. How do they pull that off?

rando says

How do they pull that off?

I suspect that they simply refuse lower offers and keep the loses off the books. Individuals in charge of the books make out like bandits while the investors will eventually get fleeced.

When this bubble crashes, it will cause another global depression probably bigger than the 2007 one.

Dan8267 says

When this bubble crashes, it will cause another global depression probably bigger than the 2007 one.

If we manage to disengage from the Chinese economy somewhat under Trump, maybe their crash will affect us less.

You can't reverse globalism, especially not overnight.

Lot of provincial/city governments, esp. in inland China were told to take a ton of money and invest it in growth. Since they couldn't generate factory interest (too export based, too far from ports and infrastructure/electric insufficient AND too expensive per KwH), they just went ape loaning money to build apartments.

Also the Chinese prefer solid, physical investments at least for the first part of their wealth.

One thing about life is that no matter how well you prepare or how hard you work, there will always be something that you never expected to hit you out of the blue.

How do you live with regrets and mistakes?

How would you feel if you were a surgeon and was paralyzed by a falling tree in your yard?

How would you feel if were a playboy and got AIDS?

How would you feel if you were a cop who killed an unarmed man?

How would you feel if you were arrested for feeding the homeless?

How would you feel if you got divorced after a 20 year marriage?

How would you feel if you feel if you volunteered for Vietnam and was shot and paralyzed?

How would you feel if you scarred your body with a tattoo?

How would you feel if you were addicted to smoking?

How would you feel if you ate too much and became obese?

How would you feel if you were $100,000 in debt?

How would feel if you were a general in the US Civil War and fought for the losing side?

How would you feel if you were a car company CEO and spent your life selling cars that polluted the environment?

How would you feel if you worked for the CIA and tortured people?

How would you feel if you were a lawmaker who wrote a law outlawing drunk-driving and was busted for driving drunk?

How would you deal with yourself if you worked for the NSA and carried out unconstitutional wiretapping?

How would you feel if you worked for the TSA and unconstitutionally groped Americans?

How would you feel if you lived on welfare?

How would you feel if you cheated on your wife?

How would you feel if you killed a kid with your car by accident?

How would you feel if you raised a kid who turned out to be a junkie?

How would feel if you married an ex-prostitute?

How would you feel if you were a handsome man and a dog attacked your face?

How would you feel if you left the priesthood to get married and then later divorced?

How would you feel if you were a monk and died a virgin?

How would you feel if you started a successful hardware chain and got killed doing home improvement repairs on your house?

How would you feel if you invented an airplane and got injured in an airplane crash?

How would you feel if you became a multi-millionaire movie star and then later found out that you have no privacy or freedom?

How would you feel if were a doctor and the government ordered educated people to be executed?

There are many ways to go wrong and even doing right could be wrong.

Your biggest success could lead to your biggest regret.