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60 minutes tonight. Chinas Ghost Cities

  • Anyone else catch it?

    I got to visit back in April and I wanted to share some pics. I snapped the pics on a train trip from Beijing to Tianjin. They literally are in the middle of nowhere.

    Sorry for the haze. The smog was horrific.

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    shortcbaseballa

  • shortcbaseballa

  • Never heard of em. Care to elaborate?

    threepeat

  • ElephanTideis said...

    Never heard of em. Care to elaborate?

    This '60 Minutes' Video Of China's Ghost Cities Is More Surreal Than Anything We've Ever Seen

    60 minutes special on China's real estate bubble including a look at its ghost cities.

    www.businessinsider.com
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    Mitch Again ●

  • That is one of the most retarded things I have ever seen, lolz at this planet... gotta just keep shaking your head

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    NoVaNoles ●

  • Cities with traffic? Ummmm.... Ok.

    VTSmitty

  • VTSmitty said...

    Cities with traffic? Ummmm.... Ok.

    You didn't watch the show. Cities were rapidly built basically overnight and no one came.

    Very interesting sediment yesterday. 60 minutes is still the GOAT

    signature image signature image signature image

    For God and Country Geronimo Geronimo Geronimo... Navy Seal team leader after mission complete and the killing of Bin Laden.

    BamaShack

  • BamaShack said...

    You didn't watch the show. Cities were rapidly built basically overnight and no one came.

    Very interesting sediment yesterday. 60 minutes is still the GOAT

    Ok, that makes sense. From the OP I didn't get exact what the show was about. Maybe they saw 2012, and know we're all heading to China when all hell breaks loose.

    VTSmitty

  • When I was in china on the all-American ping pong team, I just loved playing ping-ping with my flexolite ping ping paddle

    WillieMuffcramp

  • WillieMuffcramp said...

    When I was in china on the all-American ping pong team, I just loved playing ping-ping with my flexolite ping ping paddle

    Momma said that's just a little white lie and ain't hurting nobody

    This post was edited by VTSmitty on 3/4/2013 at 8:02 AM

    VTSmitty

  • The retarded part is the Chinese people keep trying to buy apartments nobody is living in as an investment.

    PTCcock195

  • i can't believe i've never heard about this. the magnitude of the infrastructure is what is crazy

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    Twitter: @downlowdawg - The GIF Connoisseur

    downlowdawg

  • It is going to be crazy when that housing bubble bursts. I wouldn't be surprised to see a full scale chinese revolution. Scary stuff. The cities look really well planned though from an infrastructure standpoint. Shame that the Chinese middle class is going to lose all their investment money on them.

    We are both atheists. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours

    OmegaBuckeye

  • PTCcock195 said...

    The retarded part is the Chinese people keep trying to buy apartments nobody is living in as an investment.

    Well, there's no free market in China. It was pretty much the only way for people to invest their money.

    Very scary situation when their bubble bursts.

    zabba ●

  • OmegaBuckeye said...

    It is going to be crazy when that housing bubble bursts. I wouldn't be surprised to see a full scale chinese revolution. Scary stuff. The cities look really well planned though from an infrastructure standpoint. Shame that the Chinese middle class is going to lose all their investment money on them.

    Lost century imo.

    zabba ●

  • zabba said...

    Well, there's no free market in China. It was pretty much the only way for people to invest their money.

    Very scary situation when their bubble bursts.

    You are completely right but don't forget the part that censorship plays. Our tour guide told us that the general population are being told that these cities are being built because of the growing population. It is a safe and guaranteed investment to them.

    I am sure in China one cannot simply google (baidu) "China's Ghost Cities"

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    shortcbaseballa

  • shortcbaseballa said...

    You are completely right but don't forget the part that censorship plays. Our tour guide told us that the general population are being told that these cities are being built because of the growing population. It is a safe and guaranteed investment to them.

    I am sure in China one cannot simply google (baidu) "China's Ghost Cities"

    True. I meant to imply that in my post, but unintentionally omitted it.

    zabba ●

  • OmegaBuckeye said...

    It is going to be crazy when that housing bubble bursts. I wouldn't be surprised to see a full scale chinese revolution. Scary stuff. The cities look really well planned though from an infrastructure standpoint. Shame that the Chinese middle class is going to lose all their investment money on them.

    Who knows what will happen... the Chinese government is involved in nearly every business in China with a vision of being the best. I can tell you that the shipping company I worked for back in the day was the world leader of container shipments (still is). China's COSCO shipping company has exploded, and is now like the 6th largest in the world with ship orders to increase their fleet by almost 50%. The thing is, no one has any idea if they are making a profit (in fact, I would say it is highly doubtful). In fact, several of their new ships were siezed because the company did not make payments for them. It makes you wonder just how much money China really has. I personally believe that they are just spending WAY above what they can afford, and one day it's going to crash hard.

    getmyjive11 ●

  • Looks like Detroit minus the crack.

    VegasTide

  • They should just start shooting zombie and end of the world movies in these cities and get some use out of them:)

    We are both atheists. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours

    OmegaBuckeye

  • I wonder what's going to happen when the bubble bursts and China gets strapped for cash. Maybe that's what those ghost cities are for... the new nationalized Americans to live.

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    Mike

  • getmyjive11 said...

    Who knows what will happen... the Chinese government is involved in nearly every business in China with a vision of being the best. I can tell you that the shipping company I worked for back in the day was the world leader of container shipments (still is). China's COSCO shipping company has exploded, and is now like the 6th largest in the world with ship orders to increase their fleet by almost 50%. The thing is, no one has any idea if they are making a profit (in fact, I would say it is highly doubtful). In fact, several of their new ships were siezed because the company did not make payments for them. It makes you wonder just how much money China really has. I personally believe that they are just spending WAY above what they can afford, and one day it's going to crash hard.

    It also helps that they can steal "trade secrets" thru Cyber-theft.

    I heard a report on the Radio that Chinese hackers cost American business about $300,000,000 a year by stealing our R&D.

    rms02d

  • rms02d said...

    It also helps that they can steal "trade secrets" thru Cyber-theft.

    I heard a report on the Radio that Chinese hackers cost American business about $300,000,000 a year by stealing our R&D.

    Yeah, they play by different rules. China undercut our prices on several routes where we went in pricing barely to make a profit. The margin was so low on those routes and China ate them all up for pennies. Clearly they would rather dominate an industry than make money. Disturbing.

    getmyjive11 ●

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