posted on May, 1 2012 @ 05:54 PM
This is happening all over the world to a degree. Some by foreclosure, others by over construction.
In Spain they had huge construction projects all over the country. The brick industry here was titanic. All that fell through because most borrowed on
future sales and just kept growing and building, buying and building. That's the main reason why prices went up so high. People speculated so much
and projected so far into nonexistent money. That's why Spain is slugging along with mass unemployment coupled with over generous social programs
that are milked at many levels.
I imagine in china there will be something like what happened here in Spain, but not with immigrants. I think that is important because an immigrant
has less reason to stay and resist that social pressure. A China man in China, his country, won't think to get up and leave. There will never be a
mass chin ease immigration again. The first was big enough to never really end. They would think to resist and make it better. What that man said in
the middle about china becoming polarized seems important.
here is a BBC report about some of Spain's ghost towns from over production based on government endorsed loans for infrastructure. The money was
poured all over the economy by private contractors who profited with publicly endorsed money. Publicly endorsed because the debt it generated is
dumped on the public through exotic taxes.
Sesena was designed as a major urbanization for Spanish professionals who could not afford city prices, with more than 13,500 flats built on
Fewer than 3,000 have been sold. Hugh Pym takes a look at this modern ghost town.
Special projects require special amounts of money and understanding. Yet the necessary ones can be taxed and used as a reason to pay the "public"
debt generated by government guaranteed banks investing in bad companies that failed.
Those that truly failed were the ones taking out the loans on all the nonexistent money and using that to pay for construction or production(small
businesses buying FROM big business). The debt they generated turned into unemployment and foreclosure. (Wealth acquisition by big business) Banks and
creditors were the only ones to retain the actual wealth generated.(people who essentially print money by lending out more than what exists) or
Federal Reserve and the financial apparatus that it stems from nationally and extends into globally.
Even though the ones issuing money in the forms of loans, essentially printing money,