Surplus Capital

[ryan costa]

http://www.deadmalls.com/

America must have enjoyed an enormous surplus of Capital over the last 30 years.
To keep building more and more malls so fast that more and more malls become derelict.

[Roy Pitchford]

http://www.businessinsider.com/chinese-ghost-cities-2011-5

China must have enjoyed an enormous surplus of Capital over the last 30 years.
To keep building more and more cities so fast that more and more cities become derelict.

[ryan costa]

Thank you, Roy. it is not good to see another country screwing up the same way we are. but it is comedy.. Perhaps the millions of Chinese workers living in factory dormitories by the tens of thousands will someday move into those empty apartments and houses.

In America we have massive tracts of empty subdivision houses in the Sunbelt.
We probably have a 30 year surplus of housing. they are too heavy to bury next to old Atari Cartridges.

[Roy Pitchford]

Thank you, Roy. it is not good to see another country screwing up the same way we are. but it is comedy.. Perhaps the millions of Chinese workers living in factory dormitories by the tens of thousands will someday move into those empty apartments and houses.

In America we have massive tracts of empty subdivision houses in the Sunbelt.
We probably have a 30 year surplus of housing. they are too heavy to bury next to old Atari Cartridges.

The President tells us he is now going to start building public housing units in the thousands where heretofore we have only built them in the hundreds. But FHA and the Veterans Administration tell us that they have 120,000 housing units they've taken back through mortgage foreclosures. For three decades, we have sought to solve the problems of unemployment through government planning, and the more the plans fail, the more the planners plan.

[ryan costa]

I do not see how Mr.Reagans comments are particularly relevant. Every Administration since the end of WWII has tweeked policy to maximize construction of homes, infrastructure, and shopping malls. Finance, powerplants, dams, water reservoirs, highways, etc.

When Reagan took office interest rates were near 20 percent. all his administration and Greenspan did was continually lower fed funds rates. Print up a bunch of money! Fiat! 95 percent of houses and buildings made since 1980 weren't worth building: this is reflected morally in how terrible the architecture is. McMansions. every office building and skyscraper. shopping malls. hospital buildings.

I don't remember him de-regulating much. except restrictions against mortgage-backed securities and the trading of them. that resulted in the Savings and Loan collapse and bailout 20-odd years ago. Later, the Wall Street Boys figured out how to do it even better than last time!