China Goes Full Keynesian-tard: Demolishes Never-Used Just-Built Skyscraper
"Growth" meet "mal-investment boom-bust" In a perfect example of the smoke-and-mirror-ness of China's credit-fueled expansion, a 27-storey high-rise building which was completed on November 15th 2015 was just demolished, "having been left unused for too long."
As China People's Daily reports,
Directional blasting demolition of a high-rise building was completed successfully at 7 a.m. on November 15, 2015 in Xi'an, in northwestern China's Shaanxi province.
The building was 118 meters high (27 floors) with a total construction area of over 37000 square meters.
Having been left unused for too long, the building could not be brought back into use so local government decided to demolish it.
It is reported to be the highest building that has ever been demolished in China.
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The silver-lining - now workers can clean up the mess, dig a bigger hole... and fill that in - all in the name of Keynesian "growth."
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Why not just dig holes and then fill them in? You can get rich by diggng a ditch!
And have them do it with teaspoons. They'll get even richer.
Spoon ready jobs? They use chopsticks, though!
Tungsten " chop -stiks"?
We call that The Krugman.
what a waste black children in africa could have eaten the building
Better to fly a plane in it and then blow it up and say the Arabs did it so you can start a war anywhere you please which makes it even more profitable.
Did the report say which kind of plane they used?
There’s more to come.
It was, and will be, well advertised – and no one noticed.
Societies across the globe have been destroying capital opening over the last 70 – 100 years while all observers believed the process was an example of production of capital.
It was all disguised by one simple word, “investment”.
For our purposes, “investments”, mean, money put in “plant, machinery or software”. And what makes this so alarming is that this is a component of the so-called Gross Domestic Product (GDP), regardless of territory.
The money and resources expended on such investments are no longer available to anyone else. They are entered on accounting ledgers as delayed expenses, with the anticipation that they will be “expensed” (or recovered) annually over the next 5-30 years.
In other words, the money and resources represented by such investments are lost forever – unless the business in question can recover such money and resources over those 5-30 years.
If ineptitude or lack of foresight intervene, we are looking at a massive write-off of capital.
Then there is the GDP component of government spending, which represents money spent on toilet seats, munitions and attendant bribery that will never be seen again – except what is stashed in off-shore banks… and that as a minus.
These two components mean that, fully, 35% of the US GDP index is pure fluff.
This is the conclusion I reached by examining data, assumptions and formulas provided by the US Treasury, Federal Reserve and other sources. There is more: street gangs and drug cartels, the federal government’s – and China’s – role in arming, protecting and forming alliances with such gangs and cartels… and a dozen or so other items. They all point to a conclusion that a vast operation is being perpetrated… I began this Part 2 (of my examination) with the question, ‘What financial shock do Judeo-Bolsheviks plan?’ (Part one and Part two) Do they plan to inflate the dollar to zero… push stocks to a PE ratio 300, then slam them to a ratio of single digits or even minus numbers… repudiate the federal debt… replace Federal Reserve bank notes with Treasury bank notes…?’ And, how do China’s ghost cities fit into this unprecedented operation?
And, why are Endocrine Disruptors present almost everywhere in the American environment… do they evince a kind of chemical warfare… and for who’s benefit?
Consider all these government-provided facts and you see that throwing resources at “investments” (regardless of their disguise) is a kind of insanity that will inexorably usher in the next Dark Age – with a duration five times longer than the previous one, owing to the “monetization” (by central banking) of such “investments” beyond counting.
Lots of broken windows, superb (/sarc). However, that aino skyscraper...
Better to bring it down then have it collapse because of shoddy worksmanship and material. Less embarrassing this way.
How many people there are living in slums and freezing their asses off at night? Can't leave a place vacant as it make make prices affordable so it's better to destroy structures/commodities as if they are infinite.
Completely sickening.
Notice something else odd about the picture? That's right, there are cranes on some of the buildings in the background, still being built, and soon to come crashing down.
China is paper tiger-ironic
https://en.m.wikipedia.org/wiki/Paper_tiger
Yeah, but don't worry, Silverstein upped the insurance on it.
Destroying real wealth to manipulate the perceived value of an asset class is quite literally insane.
Real energy was used to create it. They quite literally burn rock to make cement. It requires enormous amounts of energy. The steel work also requires huge amounts. Then there's the thousands of hours of labour to add the facilities and fixtures and fittings.
People could have lived there. Reduction in homelessness, real improvements to lives. I don't believe for a second that any problems with it couldn't have been solved (unless it had been built unsafely).
There is a very serious problem with the system we use today and it isn't as simple as "the keynesian's did it" because exactly the same happens every time demand is satisfied.
I call BS. The news article states clearly, demolition date was Nov 15, 2015, not Jan 9, 2016 as this ZH post implies by "just demolished".
Further, the original article does not say when the building was built. The ZH post claims the building was completed on Nov 15, 2015, this is a lie. I don't know myself how old the building was.
ZH, the reality is bad enough as it is, no need to dilute your credibility by making it seem worse.
Semantics?
Yep.
I'm glad someone else noticed this.
Someone did. Stay frosty.
The building was finished in 1999. ZH credibility has been trending towards zero.
Link?
"The 27-storey building in Xi'an city included a basement level and covered more than 37,000 square meters. It was built in 1999, but was never put into use."
http://www.ndtv.com/world-news/118-metre-high-building-demolished-in-china-1243669
Good work, T.I.G.
The irony is, that there is a story there - no need to sensationalize it by coming up with false statements.
Namely : why would a building be empty for 26 years? Shoddy workmanship? Bankruptcies left & right? Environmental issues? etc etc
Damn dawg, you pwned this Tyler.
I bet the building was not safe - so they brought it down using this excuse.
Som Ting Wong - you pour foundation good?
Hol Le Fuk - I thought you pour foundation!
Bang Ding Ow - We build 27 story high-rise on mud puddle?
"I bet the building was not safe"
Wait until there's a major earthquake and we find out how many others are also unsafe.
Think Mexico, 1985
When I was stationed at Offutt Air Force Base in 1985 I worked with weather satellites for Space Command and we'd budgeted 250 billion dollars for two underground hardened command posts for the DMSP satellite program. This got defunded along with a new branch of the military, "the Space Force" due to Iran Contra, the Challenger, and three failed Atlas launches in a row, one of which's payload was an heirloom spy satellite.
Modelling weather during nuclear winter was a strategic necessity after all.
So building and then blowing up buildings seems significantly less insane than modernizing nuclear weapons, militarizing space, and the F-35 et al.
Just think of all the fine middle eastern young men and africans who could have been put in there..... and then demolished.
Sorry, Keynesian economics never advocates over production. It encourages govt intervention to help in the lulls of economic cycles. Any govt intervention beyond the economic capacity can create inflation or as we see in China, an overbuilt economy. Too much of everything that can now be effectively utilized: housing, buildings, concrete plants, steel plants....all overbuilt in a subsidized quest to build their economy up. But missing the concept of: 'what next'?
The Chinese have people living in rat holes under the streets, why don't they just let people live there?
No kidding. We are lucky they are not destroying food while people starve. That will probably come later.
I don't know WTH is going on as far as whether the motive is inventory or currency but another chemical plant blew in China.
https://www.rt.com/news/328384-hunan-chemical-plant-blast/
Been keeping an eye on that.
http://www.upc.com.tw/engver/Products/Plasticizer.htm
http://www.upcrenewables.com/china/
http://www.upcgroup.com
http://www.upc.com.tw/engver/Sites%5CSites_Malaysia.htm
http://upcnarenewables.com/home/
http://www.windtaskforce.org/m/blogpost?id=4401701%3ABlogPost%3A3556
That carbon credits scam is interesting. You always dig up interesting stuff.
Remember Miami
http://www.upcrenewables.com/company/contact/
Hmmmmm....
Honestly I dont dig regarding this subject. I know it well.
I like the tower crane in the background putting up another one
Since (in the absence of special 9/11 fires) it probably took two months to engineer and place the explosives, the Chinques must have started wiring it for demo right after it was completed in November, or installed the charges during original construction, to save cost.
Let me guess...the owner, Silverching, gave the order to "pull it" in Chinque.
Silverching?
Naw. Rothchilds control the central finances of china.
https://www.rothschild.com/china-japan-korea/
9/11 Security Courtesy of Marvin Bush
On the weekend of 9/8, 9/9 there was a 'power down' condition in WTC tower 2, the south tower. This power down condition meant there was no electrical supply for approx 36 hrs from floor 50 up... "Of course without power there were no security cameras, no security locks on doors and many, many 'engineers' coming in and out of the tower." [WingTV]
http://whatreallyhappened.com/WRHARTICLES/911security.html
Marvin Bush and the Planting of Explosives
http://www.911hardfacts.com/report_09.htm
To be fair though, even their brand new shit looks tired and old.
The REAL story is it was finished in 1999, not 2015.
It was probably used by squatters the past 15 years.
The chinese wouldn't let syrian refugees move in? Seems perfect for them.
where have i seen that cloud of dust before? i know i have seen it. i know i saw that cloud of dust three times on the same day. now, where and when was that?
What a wasted opportunity... they could have hired some terrorists to fly a plane into the building, blamed it on North Korea, and raided their treasury to start a bullshit war.
Meh...It's not like those buildings are scarce over there...
When the times come...when the times come...
Flying planes into Buildings has been done, something new is needed such as flying planes into a passenger cruise ship.