Like I wrote here yesterday, before seeing the video (Directv doesn’t carry Bloomberg in HD, so it is fuzzy on my 55 inch TV, so I seldom watch it.) you can’t trust the financial accounting of Chinese firms.
With poor construction, those monster developments could quickly turn into money eating slums. At least in the USA, the big public housing complexes in New Orleans were built like fortresses. But they were still torn down because they became havens for criminals. Are those high rises earthquake resistant? China has a lot of quake zones. Some residential buildings like that in Chile were so severely damaged in the last quake that they will have to be torn down. And Chile has good building standards.
Alas, I have been banned from commenting on another web site in the Gulf area. And I never even do personal attacks or use vulgarity. Sometimes the truth hurts. Only a few million sites left.
It is a sad day at CNBC TV with the death of Mark Haines. He was sometimes grumpy, but I came to realize that he was trying to look out for the little guy by not buying the spin of those peddling this or that stock. He and Erin made a great team. She balanced his seriousness. I’m glad she didn’t have to deal with his loss on the air.
Get ready for QE 3, or something similar, before Christmas, 2011. Unless the preacher is right with his new end on Oct. 21, 2011.
Need a laugh? Read ‘Raptures’s Back On! Should I Sell My Home?’ by Brett Arends at http://www.marketwatch.com .