Monday, August 13, 2012

Empty Cities Redux:

 Courtesy the BBC:
As growth slows, China's huge investment in infrastructure is looking ever harder to sustain, leaving a string of ambitious projects - towns, shopping malls and even a theme park - empty and forlorn.

"We have spoken a lot about these ghost towns in Ireland and Spain recently [but China] is Ireland and Spain on steroids," says Kevin Doran, a senior investment fund manager at Brown Shipley in the UK.

Investment in infrastructure accounts for much of China's GDP, making the consequences of getting it wrong all the more serious. And with such a large pool of labour, it is harder to put the brakes on when growth slows down and the supply of housing and shops outstrips demand. "You have got seven to eight million people entering the workforce in China every single year, so you have to give them something to do in order to retain the legitimacy of the government," Doran told the BBC World Service.

 "Maybe 10 or 15 years ago they were doing things that made sense - roads, rail, power stations etc - but they have now got to the point where it's investment for investment's sake."
China's ghost towns and phantom malls (BBC)

Oh, and there's been yet another mass shooting. Pretty soon they'll be as common as traffic accidents

2 comments:

  1. The Texas shooting was an eviction gone bad, which puts it in an rather different category from Aurora and The Sikh Temple. I'll wager there is some serious financial maleficence in the background of this one, not that shooting some poor country bailiff is a solution. *sigh*

    Anyway, I wrote this within an hour or so after the Sikh Temple shooting:

    "This is what Collapse looks like. This is a Social Order coming apart piece by piece. And it is beyond 'control' by either The Right or The Left. Note that The Corporate State's actions are now largely about Hoarding in one form or another.

    And there's plenty more of this in the pipeline. Our civilization is designed to expand and we are slowly but steadily contracting and no solutions are available, at least none that anyone in power is yet willing to apply.

    So, while most of us hunker down, some will break and lash out. You can rant about Gun Control - hell, I can rant about The Armed Citizen - and it won't mean shit...except that just maybe I might be able to shoot back if the time comes. But that's cold comfort in the larger scheme of things."

    In other words, I agree with your last sentence.

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  2. I once said that real purpose behind the liberalization of gun laws being pushed by conservative groups is to make sure that the 99 percent will kill each other off when TSHTF, while the 1 percent say safe in their gated exurbs and secured urban condos. It's much more economical than locking people up in prisons where you have to feed them, etc. So far it looks like we're behaving exactly as expected.

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