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Communist China’s gargantuan”ghost buildings” spread to Los Angeles and the world.
REAL ESTATE NEWS (Los Angeles, CA) — Warning signs have been flashing, largely ignored for years. These warning lights that were once amber are now strobing bright red. Communist China is today a giant prison of more than a billion inmates. More than 26 million Chinese citizens have been locked down or locked up for months in Shanghai. Even after they are officially released, just before starvation, most are not free to travel or to conduct basic life activities. Citizens are not free to make basic personal choices.
Dictator Xi Jinping has decided that most Chinese citizens are not allowed to leave the country. He won’t tell the truth about the real reasons: He is worried about capital flight and brain drain of those who wish to escape the blustery communist mess. Xi has apparently not received the memo stating that anyone with an internet connection or a mobile phone can today send millions anywhere in the world by Bitcoin, instantly without any government official knowing about it. A great shield from tyranny at a time when communist failure threatens to spread throughout the globe!
Communists have hobbled the world economy. Mainland China’s economy is failing. Real estate in China, including entire ghost cities, tofu dreg construction, along with other fake real estate, make up one third of China’s economy. Already besieged by poor quality and corruption, that 1/3 of the economy is now totally crashing, newer infrastructure is already disintegrating, taking down China’s overall economy. This overall economic failure is a fact that the China Communist Party must hide at all cost. Draconian lockdowns and saber rattling are currently the communist tactics of choice.
China real estate plummets as new-home sales in 23 major Chinese cities recently plunged 33%, and China’s real estate giants like Evergrande continue to sink deeper into the abyss. Because of these woes, Goldman Sachs has turned bearish on China real estate. The top investment bank expects to see more defaults out of the great Asian paper tiger. While the western world raises interest rates, communist China is lowering rates in an attempt to stop the economic bleeding. Evergrand is an example of a bloated, communist government sponsored corrupt company that is too big to fail — yet failing anyway. Leading investment advisors warn of brutal collapse for Evergrande, combined with China’s unexpected new demographic collapse. On top of all that, China has a ticking time bomb of debt. Because of these failures, India has a chance at replacing China in growth potential, if India can reform its own unruly, oppressive bureaucracy.
The U.S. and western world have been hit with a wave of pessimism, a very late increase in interest rates from our unreliable banker coup at the Federal Reserve, and their runaway inflation monster. The result is that some tables are turning. For the last two years, the world economy crashes up due to exploding oil prices leading to skyrocketing of all prices, combined with recessionary forces, felt by the poor and middle class: more dollars delivering less wealth. The number of home buyers now decreases while property prices and rents continue to soar ever higher. Only the Greater Depression of the 2020s can stop the current 40-year high inflation rate. Everyone must be prepared to survive both runaway inflation and the worst economic recession in history — Super Stagflation.
Right here in Downtown Los Angeles, a communist China-funded mini ghost city, called OceanWide Plaza, haunts the cityscape between the L.A. Convention Center, LA LIVE and Flower Street Lofts. After taking more than decade to design and begin construction, the skeleton of a new structure stands like an empty prop. The developer is flat broke, and nobody wants to finish the multi-billion dollar 2000-era boondoggle that may be thirty years out of date by the time it is finished, as we quickly move toward the 2030s. Megaproject EverGrande is just one example of how China’s slowdown affects Los Angeles and the world.
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In Downtown L.A. sits OceanWide’s massive monument to communist China’s real estate failure.
