Tag Archives: chinese real estate bubble

Plus ca Change

News reports indicate China is now in financial trouble, and curiously enough, precisely the same trouble we are in, namely, a real estate bubble about to burst. It seems the Chinese economic miracle was driven by skyrocketing real estate prices, particularly the price of land. And now the top has been reached, and prices are tumbling as they always do. And amazingly enough, this is coming about without the help of Barney Frank, Fannie Mae and Freddie Mac. The French have a saying, Plus ca change, translated The more things change the more they remain the same. Ain’t it the truth?



Ain’t it strange

How plus ca change

And China’s now in trouble

No Fannie Mae

That’s what they say

So how come there’s a bubble

Is Barney Frank

The guy to thank

For selling them on housing

Drive up the price

No land for rice

And now they need de-lousing

And so it goes

The problem grows

Both China and in Stateside

But no one cares

Just say your prayers

O says we’ll catch the late tide



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