Gyroscopic Investing

Translation: "When this is over, all hell’s gonna break loose"

Behold the wonders of China's reckless money printing in action:

http://chovanec.wordpress.com/2011/09/0 ... le-deluge/

Yes, those are photos of the new corporate headquarters palace of state-owned Harbin Pharmaceutical, in northeast China.

It makes the RBS head quarters in Edinburgh look like restrained good taste.

I heard the former head of research at GSK (a UK pharma company) say that the key improvement he could recommend for the pharma industry would be to forget the water features.

The tragic thing is though that building that awful palace in China has not wasted anything over and above having 9% unemployment in the USA or in Europe. There is literally nothing to show for that unemployment. Not even a moronic palace.

Is that not what a "worker's paradise" is supposed to look like?

In the spirit of funny China news, here's one that's floating around the Internet today.

Luxury Boat Launches, Sinks Immediately [VIDEO]

Maybe they need a floating currency

And today... China's top fighter jet nose-dived into the ground during a highly publicized airshow. Unfortunately, one of the pilots didn't make it out.

Chinese fighter jet nose-dives into field at show [VIDEO]

Something tells me China's upcoming aircraft carrier is going to have a few glitches.

Gumby wrote: Something tells me China's upcoming aircraft carrier is going to have a few glitches.

Nothing the spirit of Mao can't overcome, I'm sure.

It's funny how skeptics in a society like that are often perceived as contributing to the problems in implementing the master plan, rather than helping everyone to see that the master plan has some flaws that ought to be addressed before proceeding too far with it.

That business recently of the Chinese train crash where the authorities had the cars buried with survivors literally still inside trying to get out was really chilling.

MT,

There were people still alive when they buried it?

WTF?!

moda0306 wrote: MT,

There were people still alive when they buried it?

WTF?!

As I recall, they pulled survivors from at least one car after the burying had started on the other cars.

James Rickards, who I respect greatly, recently tweeted that China was in the process of imploding. Judging by that pure opulance, I think that he may be right.

I thought this MMT take on the China stituation was interesting:

http://bilbo.economicoutlook.net/blog/?p=16523

"Net exports contribute a small component of real GDP growth which puts the popular conception that China is an export-led economy into an entirely different light. It is not. The Chinese government is using public spending to achieve strong domestic growth with provides income growth (and rising savings) to the private sector which, in turn, spawns strong private domestic growth.
An almost blueprinted fiscal strategy. If the West followed this pattern and eschewed all the ideological baggage that neo-liberalism has dropped on us then we could very quickly look like this. We would run out of idle resources before China but at present the West has mountains of idle labour – millions of people desperate for work – that should be absorbed back into productive employment.
We are not doing this because we are stupid."