posted on Mar, 6 2013 @ 09:24 AM
There is no "Housing Bubble" in China.
The Chinese CAN NOT declare Bankruptcy.
Mr. Chin buys an apartment....loses his job and can't pay the mortgage. The Government keeps him in it and collects whatever they can when they can
until Mr. Chin dies. Then the apartment is re-sold to the next person.
Very little money is lost.
America loans $300,000 for Mr. Smith to mortgage an apartment. He loses his job and gets kicked out of his apartment. Bank writes off $300,000+ loss.
4 months later Mr. Jones mortgages the same apartment for $300,000....few months later HE loses his job. Bank writes off $300,000+ loss. Few months
later Mr. King mortgages the same apartment....he too loses his job and loses the apartment....Bank writes off $300,000+ loss.....
Who's got the losing economy?
It ain't the Chinese who are not allowed to declare Bankruptcy. Now do you see why America's Public Debt is so large?
We've been getting robbed by our economic system.
Not long ago in America the Govt. gave people free land. So they could build something on it to make something of themselves...so a Government could
tax them for revenue. They WANTED the citizens to be successful.....
Now we have a Govt. that's been ripping us off, eliminated all careers, jobs, and created a cycle which is a meat grinder to tear people apart to
generate the most $$$ possible.....
China's winning the economic game. Don't mess with Asians when it comes to MATH.