Monday, August 7, 2017

Profits and Prophets

For those who might not know it, massive investments in infrastructure, could well have produced over sixty million unoccupied apartments in China. Each one is for sale but each one is well beyond the means of the average wage earner.

Here in the west where there is no command economy, high praise for the rising price of stocks is more often than not a prelude to the sort of exuberance that produces millions of unoccupied apartment buildings. Call me Jeremiah, if you wish to.

No comments: