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Luxury Chinese Boat Launches, Sinks Immediately

Submitted by Tyler Durden on 10/12/2011 17:15 -0400

The following video is just replete with floundering symbolism of the Chinese economic miracle. One explanation for the fiasco: the boat's hold was filled with copper...

Via gCaptain:

Details of what actually went down in this incident are bit fuzzy being that most every report is in Chinese, but from what we gather, a highly anticipated luxury leisure boat being built by the city of Lanzou located in the Gansu Province of China nearly sank immediately after the vessel was launched on September 29th. The vessel, the SS Jiugang, reportedly cost over 17 million RMB (over $2.5m USD) and its launch failure was salt in the wounds for the already expensive and highly questioned project.

Thankfully, the vessel was not a total loss. The SS Jiugang was salvaged and is currently undergoing repairs for a second launching to be held soon.

We can't wait for the video from that one.

As for the first, here it is:

h/t Dan

- advertisements -

Wed, 10/12/2011 - 22:56 | 1768254 Freddie

The bigger joke is the stupid fvkks who put the kenyan in the white hut and I have to see their 2012 ads here on ZH - including the wookie. Any country that stupid is far more screwed than China. Thank the union scum, libs and illegals for the usurper.

Wed, 10/12/2011 - 19:20 | 1767715 chump666

Say that in NYC.

Wed, 10/12/2011 - 22:58 | 1768258 Freddie

The people of NYC helped put a muslim trojan horse in the white hut 7 years after 9-11. NY'ers are not that smart.

Wed, 10/12/2011 - 18:26 | 1767529 Alex Kintner

There was a hole in the water right where they launched. Gotta look behind ya when you're backing up, people. How many times do I have to say it!

Wed, 10/12/2011 - 18:31 | 1767551 nwskii

HMS Fail Boat

Wed, 10/12/2011 - 18:32 | 1767558 Amish Hacker

I have made it a firm policy never to travel on a boat named the "Unsinkable II."

Wed, 10/12/2011 - 18:32 | 1767559 Justaman

Look at the bright side...it was completed on time and way under budget. Success by my book!

Wed, 10/12/2011 - 18:42 | 1767596 Yen Cross

You must be a " RE/cycler" ? Good comment though.

Wed, 10/12/2011 - 19:41 | 1767777 Justaman

Not sure if you mean I repeated someone else's comments. If so, yeah probably did. I don't read every comment and the thought wasn't very original. Agreed.

Wed, 10/12/2011 - 23:30 | 1768314 Yen Cross

I speak for my/ self. Yes I mean't my remarks. I'm busy. As are you!

Wed, 10/12/2011 - 18:32 | 1767561 Missiondweller

Imagine what their infra-structure is built like.

I've read about the "rebar stretching" to save money. They thin it out before using in construction to use less. Next big quake they'll see how smart that was.

Wed, 10/12/2011 - 18:44 | 1767603 Yen Cross

La' Cucaracha !!!

Wed, 10/12/2011 - 18:33 | 1767563 Korbin Dallas

Stick to trains, b$tches.

Wed, 10/12/2011 - 19:08 | 1767670 Hephasteus

Trains you say. So you like playing chinese roulette. See you at trainspotters meeting.

Wed, 10/12/2011 - 20:15 | 1767864 Korbin Dallas

Sarcasm, b$tch.

Fri, 10/14/2011 - 02:37 | 1772588 Korbin Dallas

http://blogs.wsj.com/chinarealtime/2011/10/14/watch-chinese-fighter-jet-...

I said trains, not planes crashing into plains.

Wed, 10/12/2011 - 18:52 | 1767575 Justaman

Are we100% sure that wasn't built in the US? Quality is job 1 you know...

Wed, 10/12/2011 - 19:37 | 1767770 Alpha Monkey

Is it tripple A rated?

Wed, 10/12/2011 - 18:42 | 1767592 tim73

Probably these geniuses stole a design for toy boat for the kids from USA, expanded it to real size with CAD and here it is :)

Wed, 10/12/2011 - 18:42 | 1767594 ZeroPoint

China is a cheap copy nation. The make cheap consume product copies, cheap financial product copies, and cheap government copies. All trash.

Wed, 10/12/2011 - 19:07 | 1767667 Money 4 Nothing

Was that their cheap copy version of our glass bottom boat?

Wed, 10/12/2011 - 18:44 | 1767602 Optimusprime

Easy to make smartass comments. Obviously this issue is with the specifics of the LAUNCHING. It may be that the boat itself is fine.

The path into the water, given the shallow draft, was too steep. Duh.

So yes, some stupidity involved. But not necessarily wrt the design or the construction of the boat itself.

Wed, 10/12/2011 - 18:48 | 1767620 Yen Cross

O/P you just revealed your " Need of " { Energon Cube } }] Revalue the Yuan. Now!

Wed, 10/12/2011 - 18:46 | 1767614 Parth

Chinese Junk!

Wed, 10/12/2011 - 18:50 | 1767628 lunaticfringe

heh. just like all of that other shit made in china. worthless.

Wed, 10/12/2011 - 18:54 | 1767646 Ramboy

That boat was actually built by Hovnanian like my leaking shithole condo.

Wed, 10/12/2011 - 19:00 | 1767656 bugs_

Whatever happens - that boat is still on the books at full value!

Wed, 10/12/2011 - 19:10 | 1767675 Kali

Oh shit, there ya go. Insurance company pays full value. They skimmed with the "shortcuts" and collected insurance. Financial innovation at its finest!

Wed, 10/12/2011 - 19:09 | 1767672 RafterManFMJ

Swedes did it first, Chinese make poor copy.

"Vasa (or Wasa)^[1] is a Swedish warship that was built from 1626 to 1628. The ship foundered and sank after sailing less than a nautical mile (ca 2 km) into its maiden voyage on 10 August 1628...Vasa was built top-heavy and had insufficient ballast. Despite an obvious lack of stability in port, it was allowed to set sail and foundered only a few minutes after it first encountered a wind stronger than a breeze. The impulsive move to set sail was the result of a combination of factors: Swedish king Gustavus Adolphus, who was abroad on the date of its maiden voyage, was impatient to see it join the Baltic fleet in the Thirty Years' War; at the same time, the king's subordinates lacked the political courage to discuss the ship's structural problems frankly or to have the maiden voyage postponed. An inquiry was organized by the Swedish privy council to find personal responsibility for the disaster, but in the end no one was punished for the fiasco." -Wiki

Wed, 10/12/2011 - 19:21 | 1767719 Yen Cross

I read your 3 para graphs. I caught your " links".

I'll leave my trade " wide" , for now. Freedom has given me that choice.

Wed, 10/12/2011 - 19:10 | 1767674 blindman

http://www.world-nuclear.org/info/inf63.html

Nuclear Power in China

Mainland China has 14 nuclear power reactors in operation, more than 25 under construction, and more about to start construction soon.
Additional reactors are planned, including some of the world's most advanced, to give a five- or six-fold increase in nuclear capacity to at least 60 GWe by 2020, then 200 GWe by 2030, and 400 GWe by 2050.
China is rapidly becoming self-sufficient in reactor design and construction, as well as other aspects of the fuel cycle.

.
comment:
good night.

Wed, 10/12/2011 - 19:11 | 1767677 Kali

Just another source of madness!

Wed, 10/12/2011 - 21:08 | 1768006 Yen Cross

Ask Jeff Immelt how those reactors are being built? You ass clown!

I'm all for Capitalism, but it ineptness off the Ass Clowns, is getting old! I own busineses, and pay employees. /SP intended!

Wed, 10/12/2011 - 22:54 | 1768249 blindman

@ " ass clown.."
question: what is an ass clown? is it a good thing like
random distribution of radioactive isotopes? do you have
to go to school and pay instructors and institutions to
learn the art of ass clown? or can i just be a natural
ass clown and hang out my shingle? also, what is sp intended?
is that something i could learn in ass clown school? forgive
me for knot knowing.
ps. u funny too !

Wed, 10/12/2011 - 23:10 | 1768279 Yen Cross

Blind Man? Ya right! You are more awake than most!

Wed, 10/12/2011 - 19:13 | 1767685 Village Idiot

Where's that "Honkey" poster that was so pro Chinese yesterday? Maybe Honkey could shed some light...on the bottom of the river.

Wed, 10/12/2011 - 19:14 | 1767688 chump666

Well if anyone watched the insane Chinese government buying up bank stocks/Copper/risk FX etc etc last few days...

Get ready for the funds selling into the Shanghai rallies

China is sinking.

Wed, 10/12/2011 - 19:27 | 1767735 Yen Cross

Always got ya back. Yen. Gotta hit Hong Kong again. Tell Slewie hello. Plus 777. His Cal badge is funny.

Wed, 10/12/2011 - 19:43 | 1767780 chump666

Watching HK Yuan, see if some selling will take place, after the massive intervention last session.

Wed, 10/12/2011 - 20:04 | 1767834 Yen Cross

I COULD TELL YA THE TRADE. It needs to settle down 3 %. The dealers are under pressure, so they are driving the trade. Q-4 returns. There are 10 handles in the trades, if you are smart.

Wed, 10/12/2011 - 21:04 | 1767994 chump666

Risk trades looking supportive now on government intervention/CB's. If that is the case, then equities should start to sell on end Oct book closing. What I will wait for is large profit taking (stocks), and/or Talebs black-swan, with EZ/China or the US selling hard again. Fingers cross this all ends messy end mth. But yes, the USD selling trade is in for the brief moment.

Wed, 10/12/2011 - 19:15 | 1767690 mt paul

with all the US treasuries they're holding

they can buy a few more....

seal skin boats

never sink...

Wed, 10/12/2011 - 19:15 | 1767691 lakeside

Ahh-so. We need some lead to fill that hole ahh-so.

Wed, 10/12/2011 - 19:16 | 1767700 Andy Lewis

The vid I wanna see is the Chinese water drill that followed the sinking.

Wed, 10/12/2011 - 19:23 | 1767711 Element

Dude! ... Where's my aircraft carrier?! ...

soon to be followed by

Dude! ... Where's my Luna lander?! ...

Wed, 10/12/2011 - 19:23 | 1767724 Yen Cross

What ever happened to Fukishima?

Wed, 10/12/2011 - 19:28 | 1767728 Element

Dude! ... where's my ekonomi?! ...

yeah ... that fuki thing ... no biggie ... did ya here the glad news about the Olympic Dam expansion?

Wed, 10/12/2011 - 19:32 | 1767740 Yen Cross

So i'm the fall out? I'm giving you the ongoing " KUDO's " .

Update: yes the Olympic dam project is up for vote. Happy?

Wed, 10/12/2011 - 19:36 | 1767765 Element

Heh ... we'll just keep burning coal me thinks ...

Wed, 10/12/2011 - 19:38 | 1767773 Yen Cross

Element, you are fantastic, smart, and considerate. Thank you for your input.

Wed, 10/12/2011 - 19:42 | 1767778 Element

Yen, saddens me to see Japan in such a state, I try not to dwell on it, I really hope for the best ... cheers

Wed, 10/12/2011 - 20:09 | 1767847 Yen Cross

Every low, is the beginning of a wave up. I believe in Japan, and I believe Japan has seen what the United States has seen.

I think Japan, Korea, and the United States are a great combination.

Wed, 10/12/2011 - 19:45 | 1767786 Jendrzejczyk

You kind Sir, are a gentleman and a scolder.

Wed, 10/12/2011 - 19:20 | 1767716 robertocarlos

Klaus Kinski would have gotten that boat safely in the water.

Wed, 10/12/2011 - 19:21 | 1767721 arby63

Just remember these geniuses are making everyting from the ball joints in your car to the hydraulic cables in the airplanes you ride within. We are such suckers.

Wed, 10/12/2011 - 19:25 | 1767729 King_of_simpletons

You guys are mistaken. That's the great china submarine.

Wed, 10/12/2011 - 20:15 | 1767736 Money 4 Nothing

dumb ass, now I'm convinced that wasn't China firing an ICBM off the coast of California.

http://www.youtube.com/watch?v=lAD6Obi7Cag

III

Wed, 10/12/2011 - 21:01 | 1767986 FinalCollapse

They did - it just went the wrong way, toward their own shores.

Wed, 10/12/2011 - 19:28 | 1767737 DoneThis2Long

Someone had to be short the shipyards that built that U boat? Or perhaps their industrial spies mismarked some submarine's plans as "luxury liner plans" !!!

Wed, 10/12/2011 - 19:29 | 1767741 Beam Me Up Scotty

Put in the plug before you put it in the water FFS!!!

Wed, 10/12/2011 - 19:36 | 1767742 Money 4 Nothing

Oh shit! it's listed on ebay already!

52' Rugshuri Riner,

Shrightrey scrached, rittle warter dramaged but wer cronfedent shee twile grow .. ooooh.. not shrow grood.

2 hours on emgems wit 0 kewometowrs.

Preese crawl,

Minka - 000-55-9820-3550

Shell frome 000-55-3541-3367 Rost on srite of raunch.

If no anshure at shell frone, creep crawling, I am strill here rooking fror it.

Breast offur.

Ash fror Huan Jung Lee

Wed, 10/12/2011 - 22:28 | 1768165 DoneThis2Long

LMAO ....

how much breast you wish for offur ?? is derivery more?

Wed, 10/12/2011 - 19:32 | 1767752 dark pools of soros

so how many times does AIG have to pay Goldman for this one failure? 20? 30x?

Wed, 10/12/2011 - 19:34 | 1767757 Cassandra Syndrome

Its like rearranging deckchairs on the SS Jiugang......

Wed, 10/12/2011 - 19:34 | 1767758 DoneThis2Long

whole new meaning to "yellow submarine"!!!! LOL

Wed, 10/12/2011 - 19:36 | 1767767 ozziindaus

Title should have been

"Foolish Chincks Sink Ships"

Wed, 10/12/2011 - 19:41 | 1767776 Parth

Counterattack joke: It was full of American tourists sitting in the back. The average Chinese weighs 135lbs and somebody loaded up with a bunch of big butts from ....

Wed, 10/12/2011 - 20:02 | 1767823 tomreagan

Must have been technology blueprints

Wed, 10/12/2011 - 19:44 | 1767784 gimli

Asian version of Das Boot

Wed, 10/12/2011 - 19:51 | 1767795 ChacoFunFact

Jim Cramer said it would float.

Wed, 10/12/2011 - 19:58 | 1767814 tomreagan

I need my life preserver i mean reserve currency

Wed, 10/12/2011 - 20:02 | 1767824 Westcoastliberal

Reminds me of the "Vasa" the battleship which sank upon launch in Stockholm harbor. It's been dredged out and partially restored in the museum in which it now resides. Put it on your list if you visit Stockholm. Maybe this ship will wind up in a museum in China.

Wed, 10/12/2011 - 20:02 | 1767828 Richard Whitney

LOFRMAO

Wed, 10/12/2011 - 20:09 | 1767848 bentaxle

Next time, just so we all understand what it means when we say rock bottom price or we pull the plug.....

Wed, 10/12/2011 - 20:21 | 1767858 Justaman

This must be a decoy. The real boat they built is right behind them waiting for the cameras to turn off. Right?

Wed, 10/12/2011 - 20:17 | 1767867 LongSoupLine

You know, if they just filled the hull with Greek bonds that boat would launch like a space shuttle.

Wed, 10/12/2011 - 20:17 | 1767869 upWising

I hate to be a party-pooper but....

I think the State of California brought the new "eastern half" of the San Francisco-Oakland Bay Bridge in from Shanghai. As I recall the new towers being towed through the Golden Gate, I remember it being said that they allegedly made of steel also. CalTrans is happily "stimulating itself" by rebuilding bridges all over the state to accommodate more lanes for more cars (imported from Japan and Korea), and as I see the big steel I-beams stacked on the side of the freeway, I keep thinking "Made in China." I know "our Asian trading partner" has an "issue with flotation" but....with that "pesky little steel question".... Is the joke on US?

But, now I remember, we are a POST-INDUSTRIAL ECONOMY! We don't need to get bogged down with the dirty smelly minutiae of actually MAKING anything; we can just MANAGE INFORMATION AND FINANCE (and dabble in cottage industries like seasonal Chocolate Bears). We will be well-equipped to MANAGE the information and insurance claims from the collapsing bridges. I think a collapsed bridge boosts to GDP so it's all good.

Wed, 10/12/2011 - 20:17 | 1767870 loveyajimbo

Dude, the screen door was supposed to go on the back, not the bottom!! Doh!! Should have named it the USS Bond... it too is sunk.

Wed, 10/12/2011 - 20:25 | 1767886 YesWeKahn

Sinking a boat is nothing, I think someone (or some people) is sinking a whole country.

Wed, 10/12/2011 - 20:27 | 1767891 lemosbrasil

Everyone pretends! Straight from the Financial Times!
Absolutely unmissable translation of Joseph Cotterill TROIKA for dialogue about the conditions that persist today around Greece.

here http://ftalphaville.ft.com/blog/2011/10/11/699071/the-translated-troika/

Wed, 10/12/2011 - 20:27 | 1767892 economists_do_i...

LMFAO @ all of the funny comments you guys posted! HILARIOUS!!!

Probably a new ZH record for green up arrows.

Wed, 10/12/2011 - 20:28 | 1767898 heatbarrier

Reminds me of AirChina 981 @JFK,

http://www.youtube.com/watch?v=3AFv48IWhJw

Wed, 10/12/2011 - 20:29 | 1767899 Michael Victory

thats not luxury.

Wed, 10/12/2011 - 20:34 | 1767911 Atomizer

Prior to second launch, this 17 million dollar vessel will be equipped with bilge pumps and life boats.

Wed, 10/12/2011 - 20:38 | 1767921 Winston Smith 2009

Chinese "quality" products.

Wed, 10/12/2011 - 20:39 | 1767926 prains

the best part was the frantic chinese camera man panning back and forth, you could tell he was going WTF is going on here...love the high tech boat launch they were rocking

Wed, 10/12/2011 - 20:48 | 1767954 thedrickster

Lead bottom paint?

Wed, 10/12/2011 - 20:48 | 1767956 Hulk

River was too deep...

Wed, 10/12/2011 - 20:53 | 1767968 mendolover

I'm not sure, but I think the Chinese characters on the side of the boat translate to 'Obama 2012'.

Wed, 10/12/2011 - 21:02 | 1767987 Silverhog

Looks like they are launching a bus? So hows that new aircraft carrier doing?

Wed, 10/12/2011 - 22:34 | 1768187 DoneThis2Long

Right now it is in testing phase. They are launching paper airplanes off it. If it passes, they move on to carboard ones. But lets not get ahead of ourselves .....

Wed, 10/12/2011 - 21:03 | 1767991 BlackholeDivestment

...awe man, no common sense, don't they know if you keep the anchor on deck you will sink the boat? I mean really, how hard is it to remember to throw the anchor off the deck before you put the boat in the water? Did they actually think if they kept the anchor on deck the anchor would not pull the boat down to the bottom? Man these cats are are dumb.

Wed, 10/12/2011 - 21:10 | 1768011 Yen Cross

So every Red China , " Ant" , is on junk notice?

Wed, 10/12/2011 - 21:14 | 1768023 totem

Becky Quick is reporting that Warren Buffett just bought 10 of these, "to combine his love for sailing and taking baths."

Wed, 10/12/2011 - 21:18 | 1768028 UTICA CLUB XX PURE

Was that Bernenke waving his hand at the end of the video???

Wed, 10/12/2011 - 21:25 | 1768043 enoch_root

Hedonic adjustors.

Build crap quality copies, no inflation see?

Fed. Res. economist's working hand-in-glove with chinese sweatshops for monetary stabilty.

Wed, 10/12/2011 - 21:29 | 1768049 Mr.Sono

maybe it was a submarine?

Wed, 10/12/2011 - 23:15 | 1768287 DoneThis2Long

dual purpose. practical peoples!!!

Wed, 10/12/2011 - 21:39 | 1768071 MrBinkeyWhat

I don't want to get all technical, but that was not a "luxury boat" by any measure I know of. I mean really...looked like a party barge to me. Cheap ass as well.

launching ramp was too steep for a light, shallow water boat.

Bitchez!

Wed, 10/12/2011 - 21:40 | 1768073 MrBinkeyWhat

Double click Bitchez

Wed, 10/12/2011 - 21:45 | 1768082 pauhana

Oh, god. I don't think I've laughed so hard on a day when I've lost so much! Many thanks to one and all!

Wed, 10/12/2011 - 21:46 | 1768083 Gooserooster

The mistake they made was launching that boat stern first. Had they used the same equipment, same technique, but simply turned the boat around, it would've floated just fine. Otherwise, they needed a ramp that was not so steep.

Wed, 10/12/2011 - 21:46 | 1768084 Gooserooster

Wed, 10/12/2011 - 21:49 | 1768085 ZippyDooDah

So, don't try to launch a big-ass, expensive boat off a couple of cheesy air mattresses. Wow.

Thu, 10/13/2011 - 03:25 | 1768641 ZFiNX

2.5 mill for a boat is peanuts.

Wed, 10/12/2011 - 21:49 | 1768088 chindit13

So "reverse engineering" means putting the skyroof on the bottom of the boat?

Wed, 10/12/2011 - 21:55 | 1768097 ska11153

OMG, quite possibly the funniest/stupidest thing I have ever seen

Wed, 10/12/2011 - 21:55 | 1768098 nasa

Looks like the Chinese have reinvented the anchor. It's another sputnik moment.

Wed, 10/12/2011 - 21:59 | 1768106 ??

Dr. Doom's Research Firm Reportedly Losing Millions, Up For Sale

http://www.forbes.com/sites/chrisbarth/2011/10/11/dr-dooms-research-firm...

(Vanginas on the walls not yielding the return expected?)

http://nymag.com/daily/intel/2009/03/nouriel_roubinis_wall_vaginas.html

Wed, 10/12/2011 - 23:00 | 1768262 chump666

Ah sh*t roubini was cool in 2007, he kinda lost the plot

Wed, 10/12/2011 - 23:03 | 1768264 chump666

Celente kicks his ass, that Bronx accent....

Wed, 10/12/2011 - 22:02 | 1768114 ??

and perhaps, just perhaps OWS is occupying the wrong hood

$9 million over lifetime? The Tribune said the official who was expected to get about $438,000 a year would do so from three pensions covering the same work period: a city laborers fund, a union district council fund and a national union fund.

http://www.msnbc.msn.com/id/44872639/ns/us_news-life/

Wed, 10/12/2011 - 22:03 | 1768115 Buck Johnson

It sunk because when the boat was being released it was at a steep angle. The back of the boat went into the river to steep and allowed it to take on water on the deck. Which allowed water to go into the bottom compartments which made it heavier and made the angle even more steep etc. etc. etc..

Wed, 10/12/2011 - 22:05 | 1768119 PulauHantu29

What's even funnier is the name of that sinking boat is, "The Dollar."

Wed, 10/12/2011 - 23:15 | 1768285 Yen Cross

Head fake my friend. DXY is going back to 80! Look @ the longer term charts. It's BoJ , and MoF I'm watching!!!

Wed, 10/12/2011 - 22:24 | 1768152 reader2010

Welcome to Chinese mirage.

Wed, 10/12/2011 - 22:25 | 1768156 Dave Thomas

Oh god, Oh God! Is the world ending again!?

Holy SHIT lemme wake up to +300 point gains in the dow tomorrow!

Wed, 10/12/2011 - 22:33 | 1768181 chump666

The Chinese just sent another f*ck you to congress, check the CNY.

And the Chinese are pleading they don't manipulate their currency??? What a joke....

Wed, 10/12/2011 - 22:34 | 1768188 RSDallas

That is the best laugh I have had in the last 3 years! I guess that our boat designs are one of the last bit of technology that hasn't been given to China! Yet!

Wed, 10/12/2011 - 22:34 | 1768190 RSDallas

That is the best laugh I have had in the last 3 years! I guess that our boat designs are one of the last bit of technology that hasn't been given to China! Yet!

Wed, 10/12/2011 - 22:35 | 1768194 tom a taxpayer

Failure of Solar Buoyancy Booster caused ship to sink, according to a Chinese maritime official. But accident investigators are puzzled by the failure because the solar design was stolen from high tech American company and the launch day was sunny. What could possibly go wrong?

Divers in the muddy river recovered debris from the failed Solar Buoyancy Booster with the markings "Manufactured by Solyndra in partnership with our Chinese friends".

Wed, 10/12/2011 - 22:35 | 1768196 eliathan

Smell like s someone is gonna get fired so badly

Wed, 10/12/2011 - 22:39 | 1768208 heatbarrier

Fast n' Furious launch.

Wed, 10/12/2011 - 23:33 | 1768327 Yen Cross

I agree with you, but lay off Fox News.

Wed, 10/12/2011 - 23:09 | 1768277 Zero Govt

replete with floundering symbolism of the Chinese economic miracle.... luxury leisure boat being built by the city of Lanzou... sank immediately after the vessel was launched

Please note No.1 : the only 'miracle' going on in China is the public sector (Govt) getting out of the fuking way of the near-dead private sector the Communists strangled during Ming and then Mao

Please note No.2 : the boat was being built by the public sector (Govt), the City of Lazou ...that's why it sank (like every Govt project in history)

Please note No.3 : nothing in society or the economy should be run by the public sector... it is a complete shambles (at best) and fails at everything it touches with 100% certainty

Govt : the Biggest Social & Economic Mistake in History

Wed, 10/12/2011 - 23:38 | 1768336 AnAnonymous

Waooooo. Speaking of fabled past...

Ming was communist? But Ming was established aeons before communism was thought off.

Actually, China had much less governmental economical intervention than the US or European countries in which the government state granted subsidizes, monopolies to business people.

It is really funny how US citizens want to rewrite history, with that state story.

Wed, 10/12/2011 - 23:59 | 1768376 blindman

beyond the technology associated with fermentation
i see nothing of any use, good or importance, it is
just that simple. man has been wasting his time and
the resources of the planet otherwise. and even that
is redundant.

Wed, 10/12/2011 - 23:13 | 1768283 Quasar

Not as bad as Americans who ride on a new boat and drown on the launch.

http://query.nytimes.com/gst/abstract.html?res=F50A11FE355512738DDDAB099...

Wed, 10/12/2011 - 23:19 | 1768293 Executioner

USS One Percent

Wed, 10/12/2011 - 23:30 | 1768312 eternalblue

all aboard the failboat..

set sail for fail..

Wed, 10/12/2011 - 23:32 | 1768322 AnAnonymous

Waooooo, another sensationalistic article, full of nothing and way below the expectations given by the title.

Nothing indicates poor manufacturing even though there is a huge demand for it on this blog.

Fault in launching, yes. But in the boat manufacturing itself, nothing.

The boat did not sink either.

This said, just as Japan was happy to recall heaps of car because it maintained activity and therefore maintained employment, the ship repairs will take people to do them. In other words, work.

Wed, 10/12/2011 - 23:46 | 1768350 lenovot60

You all got it wrong...is a submarine. It suppose to sink :P

Wed, 10/12/2011 - 23:47 | 1768356 Tomified

Don't know how many times, I've launched with the drain plug out. I'm Polish, though.

Thu, 10/13/2011 - 00:11 | 1768401 steveo

I have only done that once, and I am only 10% polish

Wed, 10/12/2011 - 23:52 | 1768364 vast-dom

sinhole nation.

Wed, 10/12/2011 - 23:54 | 1768369 Yen Cross

2 Trillion dollars are sitting on the docks ] Think about that!

FIAT is not working. I specialized in currency!>

Wed, 10/12/2011 - 23:56 | 1768373 Reform1776

Whoops there goes gravity!

Thu, 10/13/2011 - 00:03 | 1768388 Yen Cross

I give up! A jet I am in need of Catching. Best to all. The European sell off is accurate.

All of the European Banks are looking to Down Size. I want to buy That Debt. Any takers?

Thu, 10/13/2011 - 00:18 | 1768412 phraseshifter

one hull low!

Thu, 10/13/2011 - 00:31 | 1768427 Monedas

Too much "Sinophobia" goin' on ! Aldous Huxley doesn't disappoint ! He managed to bring up the Jewish Connection ? Monedas 2011 Unofficial Spokesman for the Jewish People and frankly more capable of representing their interests than they are themselves !

Thu, 10/13/2011 - 00:36 | 1768446 mikkybkk

Is Sina (top right logo in video) a state-owned news agency or some independant renegade? I cant imagine they sent this out on national tv coverage. Thats so non-Chinese!

Thu, 10/13/2011 - 00:44 | 1768459 ZFiNX

wow a 2.5 mill boat. big whoop. let me know when its a billion dollar skyscraper or something.

Thu, 10/13/2011 - 00:53 | 1768479 jonjon831983

Dunno about the boat, I'm sure it's fine.... However, Looks like... they miscalculated the angle of entry. ugh. Copy well, except for not knowing why things are done.

Thu, 10/13/2011 - 01:09 | 1768507 TK7936

Can you do this China ?

http://travel.usatoday.com/cruises/post/2010/10/disney-dream-cruise-ship...

Thu, 10/13/2011 - 01:13 | 1768509 DavidAKZ

too funny!

Thu, 10/13/2011 - 01:44 | 1768568 Motorhead

So much for thousands of years of culture & knowledge.

Thu, 10/13/2011 - 02:35 | 1768608 props2009

Live FX trading blog :

http://capital3x.com/think-tank/13-october-trading-blog/

Thu, 10/13/2011 - 02:42 | 1768617 Setarcos

I have just - well a couple of hours ago - tried to explain to a friend of mine that the "Chinese Miracle" is a mirage ... following up on a previous conversation a couple of weeks ago.

He is heavily invested in China "saving the world" - though he lost about half his 'capital'/retirement fund around 2008.

I suggested that he should Google "empty Chinese cities".

I have suggested Zero Hedge to him - amongst other realistic exponents of the coming collapse of financialism.

The poor bugger is freaking out, but is grateful for me having given him alternatives to the WSJ, the FT and other tools of Wall Str/Washington/London.

So far he has relied on Fox-type reports on "the market", but now he at least knows about such as Mark Faber and Max Keiser and Gerald Celente, for instance, so as to have a different perspective.

I hope I have done him a favour.

Thu, 10/13/2011 - 03:13 | 1768632 Davalicious

Laugh while you can, suckers! This is only the start of the Chinese submarine building program.

Thu, 10/13/2011 - 03:17 | 1768636 Vlad Tepid

Might have something to do with Grade A shitty ass quay they were launching from. Who launches a $2.5 million boat off the bank of a river?

Luxury Chinese Boat Launches, Sinks Immediately

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