gobbledonk Posted January 23, 2013 Report Share Posted January 23, 2013 Oddly enough, one of our more 'doom and gloom' gurus was blathering on about the US and China getting their respective acts together this year, and predicting big things for the markets as a result. Makes me just as nervous, if not more so, than when they are wringing their hands together .......... Link to comment Share on other sites More sharing options...
Plainsdrifter Posted January 24, 2013 Report Share Posted January 24, 2013 For the Chinese economy I hope their real eastate bubble doesn't burst this year. Traditionaly GDP rates are figured based on goods produced and sold. But in China GDP figures are based on production only. For the past few years the Chinese have been producing between 10 and 20 million condos a year and only selling 2-4 million of them. So the growing stock of apartments are growing until one day they will wake up to the problem and the bubble will burst, no doubt. Traveling through China I have seen this first hand. Driving through streets one sees endless rows of residential towers 30-50 stories high. On the ground floor there is usually a Bank of China branch several empty stores and maybe storefronts covered with large posters covering the glass fronts. On the way back in the evening looking up at all these towers one thing is noticed-no lights meaning the whole building is vacant. I have gotten used to seeing this same sight trip after trip. There are stories of whole vacant towns that have been built but have no residents. All these towns were built on former farmlands. Link to comment Share on other sites More sharing options...
Coss Posted January 24, 2013 Report Share Posted January 24, 2013 I've seen a docco about the same thing, a whole town built to house several million, all the towers vacant, with what was supposed to be the world's biggest mall - it only had 2 or 3 three shops open in it... Link to comment Share on other sites More sharing options...
gobbledonk Posted January 24, 2013 Report Share Posted January 24, 2013 I've seen a docco about the same thing, a whole town built to house several million, all the towers vacant, with what was supposed to be the world's biggest mall - it only had 2 or 3 three shops open in it... Ever been to Penang ? Kuta ? I suspect that similar madness even happened when the currency crash hit BKK - we've all seen the abandoned residential skyscrapers and the freeway overpass halted mid construction - personally, I dont recall a deserted shopping mall, but I'm sure it happened. Anyone ? (when you mention a deserted town, I instantly think of Pripyat: http://www.dailymail.co.uk/news/article-2111558/Nuclear-ghost-town-near-Chernobyl-Eerie-images-wasteland-city-50-000.html Nothing quite as desolate as a deserted amusement park, IMO.) Link to comment Share on other sites More sharing options...
Specialist Posted January 24, 2013 Report Share Posted January 24, 2013 I have a ten million Zimbabwean dollar banknote in front of me as I type this, from a guy I correspond with on an electronics mailing list. The postage stamp it took him to mail it to me was worth more than the banknote. Link to comment Share on other sites More sharing options...
TroyinEwa/Perv Posted January 24, 2013 Report Share Posted January 24, 2013 Actually, didn't they revalue their currency again?? That note may be worth even less than what you think it already is worth. In fact, it may have no value at all. Link to comment Share on other sites More sharing options...
Flashermac Posted January 24, 2013 Report Share Posted January 24, 2013 Mugabe is Thaksin's friends. Takky is trying to make Thailand just like Zimbabwe. Link to comment Share on other sites More sharing options...
Specialist Posted January 25, 2013 Report Share Posted January 25, 2013 Actually, the note is already worthless. It has an expiration date. Link to comment Share on other sites More sharing options...
Flashermac Posted January 25, 2013 Report Share Posted January 25, 2013 Money expires? Maybe the BGs know something the way they spend it. Link to comment Share on other sites More sharing options...
gobbledonk Posted March 21, 2013 Report Share Posted March 21, 2013 http://www.xe.com/currencycharts/?from=AUD&to=USD&view=5Y Despite the fact that our current government is basically dead in the water, having saddled us with over 300 billion dollars worth of debt, our dollar keeps marching on. Bit tougher against a strong baht, but the Pacific Peso is holding onto a position north of 30baht - fingers crossed that it stays there. http://www.xe.com/currencycharts/?from=AUD&to=THB&view=1Y Link to comment Share on other sites More sharing options...
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