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Ken Rogoff: "China Property Market Collapse Starting" [Copy link] 中文

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Post time 2010-7-6 21:14:05 |Display all floors
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Tyler Durden
Zero Hedge
July 6, 2010

Tomorrow morning Bloomberg TV conducted an interview with Ken Rogoff in Hong Kong (the same way you land in New York before you take off in London via the now defunct Concorde) in which the Harvard professor recently made famous for his words of caution that overlevering sovereigns always eventually leads to economic slow down, financial collapse, and ultimately bankruptcy, warned, when discussing China real estate, that "you’re starting to see that collapse in property and it’s going to hit the banking system."With this coming days ahead of the massive Agri Bank of China IPO, it is interesting just how much influence the person who has been warning all along that the world is headed on an unsustainable path will finally have, now that the permabullish cackle of the MSM punditry has finally been discredited as futures are about to reenter triple digit reality. Oh yes, and score one for Jim Chanos, and all those who have long been warning about the inevitable Chinese bubble pop. Additionally, in discussing the suddenly prevalent topic of perpetual stimulus, and particularly envisioning Paul Krugman’s thesis that the world will end unless another couple of trillion are thrown into the fire of irresponsible deficit spending, Rogoff says "I couldn’t disagree more… Just to keep drinking bottles of aspirin because you are worried you are going to get a headache, or it is going to turn into a migraine, it’s too much prophylaxis."
Patria est ubicunque bene/Obsequium amicos, veritas odium parit

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Post time 2010-7-6 21:26:20 |Display all floors
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Patria est ubicunque bene/Obsequium amicos, veritas odium parit

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Post time 2010-7-6 21:41:33 |Display all floors
Is this also a lie of the century ?

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Post time 2010-7-6 21:42:56 |Display all floors
With our budget deficit and a predicted 600,000 more public sector jobs for the chop we could see a mini collapse here too.

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Post time 2010-7-6 21:44:19 |Display all floors

Well that is good news ......................

When I come back from the UK at the end of July  ....................

I will definitely be in a buying mood ........................  


And just as the government put the leash on the market ...............

It can always take the leash off.



This drop is a great leveller for property and more people will be able to get into it.

In addition it will hit the speculators the most ......................  

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Post time 2010-7-6 22:12:11 |Display all floors

what the heck is bubble burst...

most valuable properties are state owns or leases to the public secctors, and there's free worry for doin just that but not as in private sectors  

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Post time 2010-7-6 22:57:36 |Display all floors
Very good news. Chinese system simply does not rely on home loans. If you know aobut China, you should know the popular TV drama - woju. This is the will of the Chinese people against the play of the Western buyers. I marvel how the stupid Harvard Sinophobic racist pig can find every negativity in China. This has little or nothing to do with the strength of Chinese economy.

I really doubt, however, the housing price of China will drop. I really hope it does to benefit the Chinese local people.

[ Last edited by timbatu at 2010-7-6 10:58 PM ]

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