Monday, March 05, 2007

frothing at the fingertips



What's he so happy about? Did he get a free kite? Or is he the nephew of the Chairman?



Thanks to the pope for the cool picture! Read his rant.


Thanks to black'n'brownedout for this link.

Inflated by the Olympic spirit


THE transformation of China's capital over the past few years has been astonishing. This year the effect will be giddying...Amid an Olympics-fuelled frenzy, Beijing's economy is booming and its house prices soaring. Many fear their return to earth will be bumpy.
Ah. What me worry? You can't lose. And I'm so giddy, I can't think straight anyhow.


Olympic cities usually experience an economic surge before the games. And with under 18 months to go before the games open in Beijing, China's economy as a whole is growing nearly as fast as Beijing's: 10.7% last year compared with the capital's 12% (its eighth consecutive year in double digits). Central-government leaders worry that the pace could be reckless, but are loth (sic) to apply the brakes hard.
I'm too indolent to look up the stats for how much our economy has grown, but it seems to me that I heard that it was in the neighbourhood of 3%. That's crazy growth in Beijing!


Communist Party ... leaders will be trying to stress how much in sympathy they are with the suffering of ordinary citizens.
Oh, so solly full you! Throw the dogs a bone.
For the past two years, the central government has introduced a series of measures aimed at cooling property markets in Beijing and elsewhere. These have included new taxes on property deals and higher mortgage downpayments. Last month new restrictions were imposed on property purchases by foreigners. In Shanghai, these moves have achieved some success (diverting speculative money to the bubbling stockmarket), but not in Beijing. Last year property development still accounted for more than half of all investment in the capital.
So where will the money go now? Off-shore. Vancouver sounds good. Golden Mountain. We buy it all. It's a global frenzy of liquidity. The only bright light that I can see is that the sub-prime market is melting down, and will take a lot more down with it. It's sad that the idea of a depression can seem like a bright light isn't it?


Speculators are betting that property prices will benefit from the tightness of land supply
Oh fulak! The land shortage thing. It had to be there with the friggin' Olympics thing, didn't It? Can I even type Olympics without being sued for copy-right infringement?
Moreover, in order to keep the city clear of unsightly cranes and dust-billowing building sites during the games, Beijing has been discouraging new construction projects. This has reduced the expected supply of properties and helped to drive up prices. Last year the total floor space of new housing projects was nearly 6% less than in 2005. For poorer residents the outlook was particularly grim. The floor area of newly launched low-cost housing projects was down by nearly 57%.
I think that loathesome regime is doing better than our own loathesome regime regarding housing the poor. Slavery never really went away, but now people are proud to be mortgage slaves.


According to press reports this week, the central government recently called a special meeting to discuss ways to tame Beijing's property market. Among its suggestions was an increase in the housing supply.
Is it just me?, or does that not make sense? Just above, they were moaning about the shortage of land, but now they want to build even more. Look what happened here. Thousands of new condo's, houses and townhouses, and the market just keeps on exceeding itself.


Officials estimate that the Olympics have been contributing more than two percentage points to Beijing's annual growth since 2003. After the games, they insist, the city's new infrastructure and additional glamour (including the egg-shaped theatre, which hopes to attract international stars) will help keep the economy rolling. The flow of investment will be sustained, they say, by further infrastructure development, and by the pent-up demand for property, which will be supported by a continuing large influx of migrants from the countryside.
La la la. Guns and roses and sweet dreams in a shovel. Pent up demand, and glamourous peasants flocking to Beijing on their ways to Aurean Mountain to partake in our Aquarian Sporting Event, in the town between Pemberton and Squamish, in the year between 2009 and 2011. (That is as clear as I can be, because it seems that the season between fall and spring has been copy-righted - along with quite a few other words and place names - including that word for the distraction involving boards, cards and chance, hockey, basketball, head, etc.. The one that starts with a G, and has an A, an M, an E, and an S.)


But some observers are worried. ...two Beijing academics...said the end of the Olympics would coincide with a cyclical downturn in China's economy, exacerbating the risk of a post-Olympics slump in the capital. Beijing's Olympics-related spending of around $35 billion, they calculated, would make up more than 43% of the total for all the games since 1976. This could make the post-Olympics investment downturn all the more pronounced—especially if the speculators are busy bailing out.
No worries here though, that kinda shite does not happen here. And, there aren't that many speculators...

So, I think that we are competing with the City of Beijing for the place that everyone wants to be. And we don't have no stinking French-designed, egg-shaped theatre to attract international stars. We couldn't even give the Ford Theatre enough business to keep it going. Beijing is building a mag-lev train system for it's festival, and the network is planned country-wide. We get the RAV, lose BC Rail, and watch almost weekly derailments. Third World Class.

Excuse my cynical rant. I'm tired. I will have another rant for you in the coming days.

10 comments:

vineland said...

Solipsist your word ban is just hillarious, lets all try to not name names in regard to a certain Athletic Event in the future. Nor the prizes awarded at (not)said event. This just makes a certain Committee look really, really desperate. It will be commically sad to see shop signs with words missing all over the place (just wait...).

In Montreal there was a certain overpriced English enclave that had stop signs spray painted with "bill 101" over the word "stop" (some bright light thought that "Stop" was strictly an Anglo word). Now, I think the Olym*** Committee will have to run around with a spray can in the dead of night and spray a similar "Bill C-47" over every Chineese restaurant in the Lower Mainland (plus many Greek restaurants).

the pope said...

I don't think this bill does enough to protect the IOC - It's all good and well that they've been given exclusive promotional rights to these words, but who will ensure that we watch all of the ads they produce?

The correct combination of clockwork orange style eye-gear and a jackbooted thug in every home could work wonders for our economy.

littlemanrenter said...

hmmmmm....

Heard it here first - via Sportsnet? CTV, Canada.com, CKNW - nothing...

Olympic Flag stolen

http://tinyurl.com/2cczsg

Anonymous said...
This comment has been removed by a blog administrator.
/dev/null said...

Wow, that sounds like a great service. What is the name of it again? Because I, too, am looking for something that really makes sense for buying/selling of realestate. With lots of plusses. I'm glad that you clearly state that you have no connection and are simply a very happy customer. I feel like I'm getting an unbiased opinion.

OT, but less so than the comment above, I was on the B-line bus the other day and heard a couple of teenagers talking. Guy dropped out of school at Grade 10 and was convincing the girl that she should do the same. He said he didn't need any more school and that he was going to take a course to get into real estate. Said there was a lot of easy money to be made.

Sounds like the top of the market to me...

solipsist said...

One last point, when using Con-me you end up using a very understandable 2 page Buyer/Seller contract form which is 1000% better when comparing to most realtors multi over 10 page documents that make youy feel very scasred to sign.


Did satv write your copy?

Don't be scasred, just bugger off with your spam.

multi over to con-me.

rentah said...
This comment has been removed by the author.
rentah said...

Newsflash: VHB: extra data point:

> VHB HAS MOVED AWAY FROM VANCOUVER

Kely said...
This comment has been removed by a blog administrator.
Diana said...
This comment has been removed by a blog administrator.