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China Unleashes Building-Gobbling Sinkhole To Spur GDP Growth

Tyler Durden's picture





 

While everyone knows that devastation and cataclysm are wildly bullish in a broken-window-fally-based Keynesian world where everything is incrementally positive and bad is good. It would appear that China has taken that 'fallacy' one step too far as a giant sinkhole is 'gobbling' up buildings across Guangzhou. We assume this sinkhole was unleashed to help maintain GDP amid the now factual decline in labor force that we discussed yesterday.

 

 


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Wed, 01/30/2013 - 11:33 | Link to Comment Headbanger
Headbanger's picture

iHole ??

Wed, 01/30/2013 - 11:43 | Link to Comment Temporis
Temporis's picture

If only that would happen at Constitution Ave NW, Washington, DC.

Between 20th NW and 21st St NW...

Wed, 01/30/2013 - 11:44 | Link to Comment brewing
brewing's picture

easy way to get rid of excess home inventory.  the u.s. should try it...

Wed, 01/30/2013 - 11:49 | Link to Comment Pladizow
Pladizow's picture

Hory Shit!

Wed, 01/30/2013 - 11:51 | Link to Comment HoofHearted
HoofHearted's picture

So, we get a bunch of broken window fallacies here, but we can also add in a new "sinkhole fallacy."

The big sinkhole we have in this country is the Congress + Executive Branch. And we see how that has turned out...

Wed, 01/30/2013 - 11:55 | Link to Comment Harlequin001
Harlequin001's picture

At least the shower still works. As usual the build quality in China is still 'excellent'...

Second(s) to none so to speak...

Wed, 01/30/2013 - 11:56 | Link to Comment Pure Evil
Pure Evil's picture

Has the Large Hadron Collider yet again unleashed another black hole?

Wed, 01/30/2013 - 12:07 | Link to Comment idea_hamster
idea_hamster's picture

"Unleashes"

Uh, excuse me, but the proper term is "deployes," thank you very much.

Wed, 01/30/2013 - 12:44 | Link to Comment fourchan
fourchan's picture

they build buildings to fill the sink holes. shovel ready, red china style.

Wed, 01/30/2013 - 13:06 | Link to Comment Theosebes Goodfellow
Theosebes Goodfellow's picture

4chan, you crafty thunder-thief! I thought it rather smart of those industrious Chinese to fill their sinkholes with buildings! I wonder how that plan to use all those concrete trucks seen in the latter part of the video panned out. I guess that the damned thing's gotta' stop sucking up solids sooner or later...

Wed, 01/30/2013 - 14:49 | Link to Comment akak
akak's picture

In China, even the ground is blobbing-up.

Talk about being consumptionalized!

Make me laugh.

Wed, 01/30/2013 - 11:57 | Link to Comment Harlequin001
Harlequin001's picture

I bet that if you put all the gold that was ever mined in that hole you'd probably fill it, just.

Whereas the sinkhole that could be filled with all the paper money ever printed is probably the size of Yellowstone...

Just saying...

Wed, 01/30/2013 - 12:35 | Link to Comment sdmjake
sdmjake's picture

Per this old news story, the National Money Hole is in the New Mexico desert...

http://www.theonion.com/video/in-the-know-should-the-government-stop-dumping-mon,14289/

Wed, 01/30/2013 - 11:46 | Link to Comment Joe Davola
Joe Davola's picture

Fire up them concrete pumpers and fill 'er up.  Probably build a new 43 story high rise on it in the next week.

Wed, 01/30/2013 - 11:52 | Link to Comment Harlequin001
Harlequin001's picture

Oh look, nature has cleared the way for another nuclear reactor.

Cool...

Wed, 01/30/2013 - 13:18 | Link to Comment Matt
Matt's picture

Do you think they'll take the time to have geologists and engineers check if the sinkhole will recur?

Wed, 01/30/2013 - 14:22 | Link to Comment Chief_Illiniwek
Chief_Illiniwek's picture

Those concrete pumps weren't borrowed from the Fukushima site, were they?

Wed, 01/30/2013 - 13:24 | Link to Comment sgt_doom
sgt_doom's picture

Sadly, the sanitation and sewage engineering is still a mite more superior here than in China (by a long shot).

I recall a friendly argument back in the early 1990s I had with a Chinese academic who marvelled at how easily the Chinese built their houses (couple slabs of wood thrown together) while Americans insisted on building sturdy houses.

The very next next a massive earthquake in China conveniently and sadly proved my point to him.

Wed, 01/30/2013 - 13:40 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Sadly, the sanitation and sewage engineering is still a mite more superior here than in China (by a long shot).

Well, c'mon, what's it take to engineer a roadside?

Wed, 01/30/2013 - 14:04 | Link to Comment Never One Roach
Never One Roach's picture

2 out of the 78,000,000 empty ghost apartments gone. Bullish; reducing supply like that to boost sales/prices.

Wed, 01/30/2013 - 11:58 | Link to Comment Sudden Debt
Sudden Debt's picture

It's just the bottom that fell away in the US treasury...

looks like it passed the center of the world a while ago...

 

Wed, 01/30/2013 - 14:10 | Link to Comment SAT 800
SAT 800's picture

Calm, calm; remember your blood pressure.

Wed, 01/30/2013 - 15:08 | Link to Comment Jeremy Roenick
Jeremy Roenick's picture

You didn't build that hole!

Thu, 01/31/2013 - 04:58 | Link to Comment 13thWarrior
13thWarrior's picture

Singapore liked the idea but want to test out on the auto sector first http://sg.news.yahoo.com/blogs/singaporescene/car-falls-man-made-sinkhol... .

Wed, 01/30/2013 - 11:37 | Link to Comment IridiumRebel
IridiumRebel's picture

Gangzhou style!

Wed, 01/30/2013 - 11:42 | Link to Comment BobPaulson
BobPaulson's picture

No, style would have been to see a 50 floor building on the site at the end of the video.

 

Wed, 01/30/2013 - 12:29 | Link to Comment Bunga Bunga
Bunga Bunga's picture

There is a 50 floor building but visibility reaches only up to the third floor.

Wed, 01/30/2013 - 11:36 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Unless I am understanding it wrong this is a natural response like a sponge absorbing water to the excess liquidity of USD sloshing around in China (world economy in general) since it can't saturate into the economy here in the US.

Wed, 01/30/2013 - 12:35 | Link to Comment NotApplicable
NotApplicable's picture

A sinkhole for every Keynesian!

Wed, 01/30/2013 - 11:43 | Link to Comment metastar
metastar's picture

Whoa! Economic Sinkhole Crosses Over into Physical World.

The Bernank Money Pit.

The hole we're digging in the US has reached through the center of the earth and into China.

Wed, 01/30/2013 - 11:37 | Link to Comment a growing concern
a growing concern's picture

Krugman just came.

Wed, 01/30/2013 - 12:27 | Link to Comment Unprepared
Unprepared's picture

... he saw, then he came again.

Wed, 01/30/2013 - 12:30 | Link to Comment Bunga Bunga
Bunga Bunga's picture

in an Alien costume?

Wed, 01/30/2013 - 13:19 | Link to Comment GeezerGeek
GeezerGeek's picture

Now if only he could conquer - his ignorance.

Wed, 01/30/2013 - 13:20 | Link to Comment Matt
Matt's picture

Veni, Vidi, Veni.

Wed, 01/30/2013 - 11:39 | Link to Comment malikai
malikai's picture

CCTV ran this yesterday. They have a term for it here. It's called "Tofu project". The likely culprit is either a subway under construction, or something to do with the contruction plot next to the sinkhole.

Wed, 01/30/2013 - 12:07 | Link to Comment MisterMousePotato
MisterMousePotato's picture

This sort of thing happens everywhere. For example, I remember watching a YouTube video of a (really nice, big old) house in San Francisco that disappeared into the ground. Burst water main or some such, iirc. My recollection is that there were dozens of such videos from all over. Really impressive one from somewhere down in South America.

One would be mistaken to view this as a purely Chinese phenomenon.

Having said, all that ... Hory shit!

You can't help but be impressed by the response, though - immediate. In California, it would take months (and millions of dollars) of studies, committees, public hearings, environmental impact reports, etc., before they filled the hole in.

Wed, 01/30/2013 - 13:21 | Link to Comment GeezerGeek
GeezerGeek's picture

Florida has had its share. A few decades back one even managed to gobble up a few Porsches. It had the decency not to swallow any Ferraris or Lambos. 

Wed, 01/30/2013 - 12:07 | Link to Comment XitSam
XitSam's picture

Might also be an old or poorly built sewer leaking and washing away the soil.  Or a former natural stream buried or re-directed into a drainage pipe.

Wed, 01/30/2013 - 12:11 | Link to Comment alangreedspank
alangreedspank's picture

Or bad sewer/water systems that are leaking.

Wed, 01/30/2013 - 13:43 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

WAARP caused the sinkhole. (Water Activated Apparatus for Reconstruction Projects).

Wed, 01/30/2013 - 14:07 | Link to Comment Never One Roach
Never One Roach's picture

Might be a worn-out air raid shleter from WWII. I saw them on TV one time in a WWII documentary. They are all over southern China ...built for protection from the Japanese who were bombing them.

Wed, 01/30/2013 - 11:39 | Link to Comment Dr. Engali
Dr. Engali's picture

It's going to take a bigger sinkhole than that to fix Detroit. But hey...we are America damn it! We do everything bigger and better!

Wed, 01/30/2013 - 12:38 | Link to Comment Tortfeasor
Tortfeasor's picture

Didn't know you could use a sinkhole to fix a sinkhole

Wed, 01/30/2013 - 11:39 | Link to Comment williambanzai7
williambanzai7's picture

I think that is the Greek budget in there.

Wed, 01/30/2013 - 11:40 | Link to Comment Byte Me
Byte Me's picture

Just the local Elite selling the land from underneath the plebs.

Nothing to see (down) here.

Move along pliss

Wed, 01/30/2013 - 11:40 | Link to Comment helping_friendl...
helping_friendly_book's picture

The work shown in the video would take three years to complete where I live and cost $100,000,000. The Chinese roll out and have the hole filled and family moved in 8 hours.

 

Wed, 01/30/2013 - 13:25 | Link to Comment Matt
Matt's picture

A 1-meter diameter water main broke in Montreal. It would have caused some creative destruction at the university, but the damned engineering students built a retaining wall around the entrances so it didn't flood. Not only were they not paid, but as students, they were paying to do it. How do we get more people to pay to work?

 

https://www.youtube.com/watch?v=qrIhEJ2BbgE

Wed, 01/30/2013 - 11:40 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Silly Tyler.

That's just the new community swimming pool.

Wed, 01/30/2013 - 11:39 | Link to Comment glenlloyd
glenlloyd's picture

hilarious...to watch, not so much probably for the owner.....

Wed, 01/30/2013 - 12:37 | Link to Comment NotApplicable
NotApplicable's picture

Or the contractor possibly responsible for causing the sinkhole.

Wed, 01/30/2013 - 11:40 | Link to Comment ShrNfr
ShrNfr's picture

Don't worry, Obama put money in the Sandy bill to fix it.

Wed, 01/30/2013 - 11:40 | Link to Comment IridiumRebel
IridiumRebel's picture

China is rapidly acting to set in motion legislation to enact background checks on all sinkholes. You gotta pass the sinkhole to see what is in it. 

Wed, 01/30/2013 - 11:51 | Link to Comment HoofHearted
HoofHearted's picture

And Feinstein is presently crafting a bill to outlaw high capacity sinkholes.

Wed, 01/30/2013 - 11:41 | Link to Comment slackrabbit
slackrabbit's picture

Krugman: This is bullish!

Wed, 01/30/2013 - 11:41 | Link to Comment djsmps
djsmps's picture

I am so grateful that China built the new Bay Bridge span.

Wed, 01/30/2013 - 11:42 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Looks like the plan is to fill the hole up with concrete!?!

Plain ol' dirt wouldn't be as stimulative, I guess. LOL

Wed, 01/30/2013 - 11:52 | Link to Comment shovelhead
shovelhead's picture

You can't grow green shoots in plain dirt...

 

Wed, 01/30/2013 - 13:25 | Link to Comment GeezerGeek
GeezerGeek's picture

Why not just march a few million useless mouths into the hole and then add a concrete topping? Where's Mao when you need a truly revolutionary solution.

Wed, 01/30/2013 - 11:52 | Link to Comment buzzsaw99
buzzsaw99's picture

god damn mongorians break down my shitty wall

Wed, 01/30/2013 - 11:50 | Link to Comment yogibear
yogibear's picture

Fill it in and put the largest shopping mall in China on top. When that caves in put even a larger one. China is good at producing Ghost shopping Malls to create busy work.

 

Wed, 01/30/2013 - 13:43 | Link to Comment michael_engineer
michael_engineer's picture

Ghost cities and ghost malls sound like the one of biggest fuckin punks or scam. I just don't believe it. Just look at the example of squatters here taking over anything that looks unlived in. Those guys panhandling all of the intersections need someplace to go at night.

Anybody near a ghost city would have some giant WTF questions they'd be asking and any builder or developer who built one would surely catch hell and a trip to the mental ward. Talk about malinvestment and malfeasance and malarkey.

Now "Ghost Monies", now there's an idea I firmly believe in.

Lets coin that term. "Ghost Monies"

Wed, 01/30/2013 - 13:56 | Link to Comment michael_engineer
michael_engineer's picture

So what I am wondering now is just who are they trying to mindfuck with stories about "ghost cities" and just who is trying to do the mindfucking? Is it our western media who are the mindfuckers or is it the Chinese media/government mindfuckers? Are the mindfuckees the US and western citizens or the Chinese people? Is there anything in Chinese culture that explains or somehow gives logic to this mindfuck? Is it kind of like an April fools joke from one country to another? Is it more the equivalent to Santa Claus? Can anyone shed some light on this? Maybe it's an attempt to get all of the ghosts concentrated in one place so they can send in Bill Murray and the Ghostbusters.

Wed, 01/30/2013 - 11:50 | Link to Comment Hopium Dealer
Hopium Dealer's picture

sinky-sinky, 5 rollars.

Wed, 01/30/2013 - 11:53 | Link to Comment amadeusb4
amadeusb4's picture

That looks like bonds since Friday.

Wed, 01/30/2013 - 11:55 | Link to Comment Mi Naem
Mi Naem's picture

No, no, no, you presumptuous round eyes got it all wrong. 

That's excavation for the new swimming pool. 

Neighbor's house was in the way, but that's all fixed now. 

Wed, 01/30/2013 - 11:56 | Link to Comment They Tried to S...
They Tried to Steal My Gold's picture

very Fringe like......but where's the amber?

Wed, 01/30/2013 - 11:57 | Link to Comment Sudden Debt
Sudden Debt's picture

THE MATRIX IS COLLAPSING!!!!

WHERE'S THE ARCHITECT???!!!!!

Wed, 01/30/2013 - 12:27 | Link to Comment edifice
edifice's picture

At KFC, perfecting the secret recipe.

Wed, 01/30/2013 - 13:25 | Link to Comment Orly
Orly's picture

The secret ingredient is savory.

Brine the chicken and use a pressure fryer.

 

Wed, 01/30/2013 - 11:58 | Link to Comment falak pema
falak pema's picture

pot hole that JMK and FDR would be proud of fixing; if ever that dam on the Yangtze broke...Three gorges and one deep throat! 

Wed, 01/30/2013 - 12:01 | Link to Comment azengrcat
azengrcat's picture

Keynesian moneyholes, more environmentally sound than burning money or flushing it into the ocean

Wed, 01/30/2013 - 12:00 | Link to Comment Itch
Itch's picture

Note to self; dont build stuff ontop of big holes.

Wed, 01/30/2013 - 12:01 | Link to Comment LMLP
LMLP's picture

Betcha there's a hole like that under the FED too...... right Buba?

just sayin!!....

Wed, 01/30/2013 - 12:01 | Link to Comment LongSoupLine
LongSoupLine's picture

I like the fucking trucks at the end of the video pumping ithe hole full of freshly printed UST's.

Fuck you China and your piece of shit fake economy.

Wed, 01/30/2013 - 12:06 | Link to Comment Stuck on Zero
Stuck on Zero's picture

They need one of those under Fukushima.

 

Wed, 01/30/2013 - 12:07 | Link to Comment Downtoolong
Downtoolong's picture

The Sinkhole vs Godzilla. Dibs on the movie rights.

Wed, 01/30/2013 - 12:08 | Link to Comment azzhatter
azzhatter's picture

Paul, is that a Baby Ruth in your pocket or are you just happy to see me?

Wed, 01/30/2013 - 12:09 | Link to Comment CheapBastard
CheapBastard's picture

1/10 on the Fuki Bullishness Goldman Sachs Scale. Unimpressive. The Chinese need to work on this.

Wed, 01/30/2013 - 12:11 | Link to Comment Atomizer
Atomizer's picture

 

 

If we build it, we make GDP.

If we build it, no one come.

If we build it, we show world that we superpower.

 

Wed, 01/30/2013 - 12:14 | Link to Comment marcusfenix
marcusfenix's picture

I did a little research and these sinkholes are popping up everywhere, from cali to jersey, there was on in the bronx that swallowed a car just about a week ago, not to mention the gigantic one in Louisiana that looks as if it may eat half the state before it's done...

and that's just here in the US there were thousands of reports worldwide, to many to read. obviously, I'm not a geologist and since records of numbers of sinkholes are not keep year over year (at least not that I could find) I don't really know if this is unusual or not, though there are a few experts who seem genuinely concerned about all these holes popping up suddenly.

couple this with the extreme and down right weird weather (its 60 degrees where I live in upstate NY today, 60 in the middle of friggin winter, by tomorrow it will be 28 again for the high WTF?) , all the mass animal die offs that are still happening despite the lack of MSM attention and the Q4 GDP contraction and one is left to contemplate...

is the bottom falling out on us both figuratively and literally?           

Wed, 01/30/2013 - 12:26 | Link to Comment helping_friendl...
helping_friendly_book's picture

I was so disappointed by the lack of disaster 0n 12.21.2012. The market continues to its fantasy climb above 1500. Meanwhile I'm getting my faced ripped off in a short position due to my convictions but, the criminals at the FRBNY just won't let markets be free. Fuck you Bernanke!

Wed, 01/30/2013 - 12:28 | Link to Comment Atomizer
Atomizer's picture

How does one pick the brain of a PhD peasant to create new jobs and taxation? 

 

The helical model: http://www.youtube.com/watch?v=C4V-ooITrws

3MIN News January 30, 2013: http://www.youtube.com/watch?v=rTsB6w5F1uM&list=UUTiL1q9YbrVam5nP2xzFTWQ...

 

Wed, 01/30/2013 - 12:41 | Link to Comment Jena
Jena's picture

S0 videos are a great way to start the morning.

Wed, 01/30/2013 - 12:17 | Link to Comment Quonk
Quonk's picture

Based on the following Onion report I suspect this is a municipal money hole:

http://www.theonion.com/content/video/in_the_know_should_the_government

 

Wed, 01/30/2013 - 12:22 | Link to Comment GNWT
Wed, 01/30/2013 - 13:54 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

C'mon, do you really have to spam that zirpi nusa link across every fucking article?

Wed, 01/30/2013 - 12:27 | Link to Comment Shizzmoney
Shizzmoney's picture

There's a potential sinkhole forming in Louisiana as well:

http://www.taofear.com/2013/01/louisana-sinkhole-explained.html

"Assumption Parish Sheriff Mike Waguespack said Thursday he is now concerned the sinkhole is close to a well containing 1.5 million barrels of liquid butane, a highly volatile liquid that turns into a highly flammable vapor upon release. A breach of that well, he said, could be catastrophic."

http://www.youtube.com/watch?v=wcbLvO0-huQ&feature=player_embedded

Wed, 01/30/2013 - 12:31 | Link to Comment Spastica Rex
Spastica Rex's picture

I was starting to think that China had all the cool things.

Wed, 01/30/2013 - 12:32 | Link to Comment rsnoble
rsnoble's picture

Nothing that hasn't happend in the US more than once.  Walking thru most cities you can find old buildings with windows that are mostly buried and barely sticking out of the ground. Pretty cool how that happened.  Be even cooler to find an area you could actually get down into that wasn't completely filled in.  Might run into a mad tenant though.

Wed, 01/30/2013 - 13:00 | Link to Comment The Navigator
The Navigator's picture

That's one way to get rid of those pesky homeowners who won't sell and make room for the new high-rise.

Wed, 01/30/2013 - 13:01 | Link to Comment Atomizer
Atomizer's picture

Keep your eyes on CAT stocks. 

Wed, 01/30/2013 - 13:14 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

...and no plane hit that building...

(sorry I couldn't help it)

Wed, 01/30/2013 - 13:41 | Link to Comment Iam Yue2
Iam Yue2's picture

Gee, re-build opportunity: boost to GDP.

Wed, 01/30/2013 - 13:41 | Link to Comment azzhatter
azzhatter's picture

This is nothing compared to the stinkholes in congress, Pelosi and Feinstein

Wed, 01/30/2013 - 13:59 | Link to Comment besnook
besnook's picture

chinese owner: no, no, no, don't fill in hole. we build basement now. there is room for thirty more apartments.

Wed, 01/30/2013 - 14:19 | Link to Comment ZeroAvatar
ZeroAvatar's picture

That's the sucking action made by the Australian housing market (China holes go all the way to 'Australia')

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