Friday, March 28, 2008
chinese property crash
If we here at NotMakingThisUp ran the joint, the story would have been the entire front page, under a banner headline on par with the Apollo Moon Landing, Dewey Defeats Truman, and Hillary Dodges Bullets in Bosnia.
How the Journal’s front-page editors missed breaking the greatest new story of 2008 is beyond us. Maybe Rupert Murdoch doesn’t want to upset his friends in China, what with the Olympics coming and Tibet trying to escape Chinese suppression and all.
In any event, we urge you to stop reading this and head straight to the Journal’s web site. Read the article carefully and then print it out for your files.
Yesterday's article will be “Exhibit 1” in what will become, we suspect, a very fat file on the impending Chinese Real Estate Implosion.
more evidence that the chinese central bank has finally been successful in its campaign against years of domestic inflation spurred by its dollar-peg monetary policy -- and a potentially massive deflationary bust is underway in china.