Josh Sigurdson talks with author and economic analyst John Sneisen about the shocking story out of China as it has been reported via a survey by Professor Gan Li of Chengdu’s Southwestern University of Finance and Economics that 50 million apartments stand empty throughout China. That’s about 22% of China’s urban housing stock unoccupied.
This is beyond just ghost cities, this is more than the population of most countries. The idea is to completely manipulate their market in order to make profit while printing vast sums of currency. The problem? Well isn’t it obvious? Eventually the debt comes home to roost. Eventually the bubble will burst.
China has incrementally let pressure out of their housing bubbles twice over the past 7 years. However, it simply cannot sustain itself for much longer.
It’s more than likely that the US world reserve currency will crash and cause a global domino effect allowing China the grounds to become the world reserve currency with the Yuan and bring them more voting power with the SDR at the IMF, especially with the developments being made with their centrally planned cashless society. However, they too will inevitably need to crash as well. They cannot hold up such an incredibly manipulated system. Their idea is to create a culture of absolute technocratic dependence. The central planning is through the roof and the subservience of the populace is mind boggling.
With social credit score, facial recognition everywhere, an honor system out of 1984, China stands to be one of the most powerful, insured societies going forward, even if it’s just for a little while. This should concern everyone considering their population and power on the world stage.
We as individuals must decentralize, be self sustainable, independent outside of the enforced collectives, prepare ourselves, insure our wealth, be educated and most importantly, be responsible as responsibility is the hallmark of freedom itself.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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