-Stephen Gutowski [eyeblast.tv] says:
CHINA: "The central government demands a certain amount of growth in GDP from the local governments; and so they go out and waste money building lots of useless new cities that nobody lives in...
Hey, on paper that looks like awesome and consistent growth. So it must be working, right? Um, no." [read]
-Startling Australian documentary:
"China cant help but grow its economy they have no choice, they need to create 1M new jobs every month, just to stay even with its population growth... They have to build bridges and roads with no traffic that lead to newly built major ghost cities that are 100% empty." ht: [enigmaman]
Why? jobs jobs jobs. Either the Chinese people start buying more of there own stuff or its economy will implode... And the same could be said, here in the US; as the United States it's OWN answer to US jobs creation, consumption, and ourenergypolicy [PDF]
"Chinese real estate bubble collapse would far exceed anything we've ever seen in the USA; beyond US Democrat's Freddie & Fannie debacle...We know that Obama Administration energy suppression, and excessively high US Profits Taxes are destroying GDP growth... Because everyone knows that GDP growth is, in part, a function of the rate of capital accumulation...
-Of course, that is a story for another day.
Some solutions:
US citizen investors should force the liquidation of many failed/failing Government institutions; and invest in their own "private sector" replacement entities; to impact Jobs growth & reduce tax liability.
Looking at predictable effects of history... A second Obama term "raise tax on the rich" will likely scrap the entitlements Obama voters are promised, as it forces the exit of remaining 1% who pay nearly 59% of the TAX...
And in an Obama re-election, everyday Americans will take the brunt of EXORBITANT over 50% tax increases... Not "the rich"... as is being pushed by left-stream Media...
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