Skip to comments.Furious Chinese Demand Money Back As Housing Bubble Pops
Posted on 03/24/2014 7:34:39 AM PDT by SeekAndFindEdited on 03/24/2014 8:00:12 AM PDT by Admin Moderator. [history]
Hell hath no fury like a woman scorned or, it seems, like a Chinese real estate speculator who is losing money. After four years of talking (and not doing much) about cooling the hot-money speculation that is the Chinese real-estate bubble (mirroring the US equity market bubble since stock-ownership is low in China), the WSJ reports that the people are restless as the PBOC actually takes actions - and prices are falling. With new project prices down over 20%, 'homeowners' exclaim "return our hard-earned money" and "this is very unfair" - who could have seen this coming?
(Excerpt) Read more at zerohedge.com ...
This can’t be, communism is a great system that doesn’t get involved in capitalisms greedy ways. (sarc) Just ask the obamas and any democrat.
America’s condition reminds me of the old scam of selling the Brooklyn Bridge. The euphemistically named Federal Reserve has sold me and you in the debt loan market and they never owned US but have sold US to buyers.
Welcome to the bottom of the pyramid!