Their housing bubble is slowly but inevitably crashing, but will it impact our economy just as badly as it will China's, since we depend on one another so much?
Their housing bubble is slowly but inevitably crashing, but will it impact our economy just as badly as it will China's, since we depend on one another so much?
We don't sell anything to China. Maybe the Chinese will start dumping lumber in the US below market prices, causing the lumber market to crash.[quote]JuniorRunner wrote:
It won't crash. Only foolish American's believe they control the world.
Learn to speak some Chinese.
Learn to write in Pinyin.
Learn to survive in the coming new world.
The mother of all Great Depressions in China will lead to a significant global slowdown. There are air-pockets, bubbles and unseen-leverage littered across the current financial and social system.
Higher interest rates in the US to attract people to buy our debt.
I hear they're poorly insulated so everyone that bought a Chinese bubble house will freeze this winter.
It could start another recession. The Chinese bubble is as bad as the American one was. Housing prices are higher proportionally than they were in American where averages are 1/10th Western wages. At the least annual carnivals will have to raise the prices for games of chance to win stuffed animals if the Chinese factories stop making knock off toys.
seattleftw wrote:
Higher interest rates in the US to attract people to buy our debt.
Why? The Fed just buys up all our excess debt now. What makes you think they'll stop in the future if it gets serious?
We can't afford significantly higher interest rates on our debt.
[quote]This board is too PC! wrote:
The Chinese bubble is as bad as the American one was. /quote]
"as bad" ...?
http://www.businessinsider.com/chinas-ghost-cities-in-2014-2014-6
this is the mother of all housing bubbles.
Chinese can not actually afford these places. As wages "start" increasing there, we'll bring the jobs back here [to some degree, they may be automated though]. Wages there will never reach fundamental levels to support the ridiculous housing stock that the government has pushed. Again, government central-planner are on the verge of creating another catastrophe. How long will the madness continue should be your only question.
No you are right it is worse. Housing prices are close to what they are in North America with workers literally making what people making 50 years ago. China also has a commercial housing bubble that mirrors what happened in Florida and Las Vegas.
I’m a D2 female runner. Our coach explicitly told us not to visit LetsRun forums.
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