http://www.businessinsider.com/chinese-stimulus-spending-constructed-an-empty-city-in-the-middle-of-nowhere-2009-11
Chinese Stimulus Spending Constructed An Empty City In The Middle Of Nowhere
The government shills and frauds that advise the United States on how to save the economy have come up with the plan to take money away from individuals and businesses and let the government spend it instead. Since the government shills and frauds make up the economic reports, they can massage the numbers however they want to. So they have decided that if the government spends money, it is good for the economy. I am afraid there will come a day when the government shills and frauds decided that the ONLY way to measure the economy, is to look at government spending. Because at that point, they will likely institute a 100% tax so that ONLY the government will be able to spend money.
Evidently China, which is adopting capitalism as fast as the United States is adopting communism, decided that if wasteful government spending can be used as a measure of economic growth, why not build a complete city. So they did. And on paper it looked good. There was lots of employment used to build a city. Unfortunately, it was expensive building the city. Too expensive for the average person (worker) to live there. And without the workers, and the support services for the workers (employment, food, clothing, ...), it is starting to look like no one will ever live in this newly built city.
But the wasteful spending allowed the bureaucrats to claim they had a strong and growing economy.
Monday, January 11, 2010
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