Monday, March 4, 2013

China Giant Real Estate Bubble...

This 60 Minutes is amazing...HUGE Cities in China, without any residents, they create 22-24 cities per year, and NO ONE LIVES IN THEM! You gotta see this 60 minutes segment to believe it.

How did Zhang Xin go from working in a sweatshop to being a billionaire real estate developer? Lesley Stahl reports.

Yes! fascinating story about Xin, her husband, and the most fabulous architecture. Amazing and inspiring. Mentioned but not so interesting or important? The impending crash of the Chinese economy, the conniving double-cross of the middle class, the huge cheap impoverished labor force. A spin-chilling similarity to the building of the pyramids - slave labor to build monuments and wealth for the elite. Perhaps like Xin, the poor will be sleeping on desks in those offices rather than living in homes. When the global economy finally crashes and there is no bail out or middle class to steal from - thank you smart, driven, clever rich corporate elite - we'll tune into 60 Minutes and see what clues there are to what will happen next!by maxmate March 4, 2013 7:19 PM EST

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