If you compare the nominal gross domestic product of the USA with that of China, you can see the severe crisis in the Chinese real estate market. It is interesting to note that the Chinese leadership is also unable to abandon the infantile concept of keynesianism and has already started to artificially inflate the real estate market with fresh credit again. The communists have continuously used this single sector to manipulate the overall economic performance, triggering unbelievable market distortions that are unleashed in deflationary shocks. Again, the learning curve seems to be a negatively sloped straight line!
42 sats \ 1 reply \ @didiplaywell 29 May
Replace "unable" by "unwilling". This is all good consequences for the caste, they are celebrating.
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10 sats \ 0 replies \ @TomK OP 29 May
You're right
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42 sats \ 1 reply \ @Satosora 29 May
All of those ghost cities arent making money for them!
Cant tax ghosts!
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0 sats \ 0 replies \ @didiplaywell 29 May
Tax is by far the smallest source of income. Sucking people's money through inflation and crisis that reduce labour costs progressively to slave levels are the true pursuits. Taxation is more of a form of control.
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42 sats \ 0 replies \ @Undisciplined 29 May
This post #554521 from yesterday also included the purchasing power parity adjusted chart, which tells a completely different story because of the deflationary environment in China.
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