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Silver Contributor
DealHunter0
Posts: 399
Registered: ‎04-05-2011

Zero Hedge

fyi... seems a little over the top but I always enjoy good ol' Tyler Durden

 

http://www.zerohedge.com/news/2013-01-22/chinese-politicians-are-buying-billions-us-real-estate

Platinum Super Contributor
buyinghouse
Posts: 5,879
Registered: ‎04-23-2011
0

Re: Zero Hedge


DealHunter0 wrote:

fyi... seems a little over the top but I always enjoy good ol' Tyler Durden

 

http://www.zerohedge.com/news/2013-01-22/chinese-politicians-are-buying-billions-us-real-estate


   Maybe they asked Uncle Sam to pay this dues and he didn't have it on hand and they are recuperating their money by being allowed to buy whatever they can?

  Communism has other ways to conquer, one is by economic invasion and the other by war. The former is in place right now. And who is helping them? None other than Apple and all those venture capitalists that set up their shops in Red China.

Gold Regular Contributor
sheriff
Posts: 2,324
Registered: ‎06-01-2012

Re: Zero Hedge

Most of the Chinese(and other foreigners) who are buying with cash are not money launderers or people that have "illicit funds",

they are people like you and me looking to invest money in a stable economy.  I find that article is highly biased.

Silver Contributor
DealHunter0
Posts: 399
Registered: ‎04-05-2011

Re: Zero Hedge

[ Edited ]

sheriff wrote:

Most of the Chinese(and other foreigners) who are buying with cash are not money launderers or people that have "illicit funds",

they are people like you and me looking to invest money in a stable economy.  I find that article is highly biased.


As I've never personally done business in China, I feel unqualified to comment.  That said, it does seem like every other day we hear about some new corporate fraud over there.  The Chinese are notorious for stealing IP, and my company basically refuses to do business with them for this reason.  It wouldn't suprise me at all if a substantial percentage of the money flowing in to US real estate was at least somewhat illicit (either because it was earned through semi-fraudulent business practices, or because the Chinese gov would not approve of it being shipped overseas).  Hey, if I were over there I would being doing the exact same thing – moving assets to a stable asset in a stable economy as quickly as possible before the gov changes their mind about something and takes it all away!

 

Checkout what just happened to Caterpillar!!

 

Caterpillar announced last week that it had uncovered “deliberate, multiyear, co-ordinated accounting misconduct” at the Chinese company, ERA Mining, it bought less than a year ago. Caterpillar said the discovery forced it to take a charge of about $580m – knocking out almost a tenth of the company’s 2012 earnings.

 

http://www.ft.com/intl/cms/s/0/eb4e0ada-64ac-11e2-ac53-00144feab49a.html#axzz2Iqjq5vvK

Silver Regular Contributor
Dukey
Posts: 676
Registered: ‎07-08-2011

Re: Zero Hedge

[ Edited ]

sheriff wrote:

Most of the Chinese(and other foreigners) who are buying with cash are not money launderers or people that have "illicit funds",

they are people like you and me looking to invest money in a stable economy.  I find that article is highly biased.


So, ahem, what's the basis or data or article  to substantiate your assertion? 

 

Well, I've been to China few times on business and found it to be one of the most corrupt place to do business where the new religion is making lot of money often thru illegal means.  Granted customs officer in India also demanded $100 bill bribe from me but that was truly an exception by a crook.  My ABC (American born Chinese) friend who spent few years working for Taiwanese owned electronic factory told me pretty outrageous stories of corruption from cooks (they claim they received 10 bags of rice when only 5 bags were received and envelope containing the money worth the other 5 bags is slipped in), Purchasing dept ran by friends and family member in cahoots, KTV/sauna payoffs of booze and women peddling oldest profession (quite common apparently), etc.  Well I did my share of sauna after big lunch and KTV actions after elaborate dinner...  :smileyindifferent:

 

And those from mainland buying up the storm here are not those who played by the rule but rather recipients of favors thru government bureaucrats.  Talk to ordinary mainlander and their dream is to come to the land of milk and honey MeiGuo which translates to beautiful country.  And yeah only those with connection to convert RMB to USD/HKD and visa from US can come to US. 

 

PS - the most memorable moment in China was when my colleague and I went to Lohu train station right across the border from HK in Shenzhen side to buy fake Class A Rolex and these 2 young touts were trying to sell us Microsoft softwares.  Well we pulled our wallet out and flashed our business cards and I swear these touts ran away like bat out of hell!  :smileyvery-happy:

 

Silver Regular Contributor
Dukey
Posts: 676
Registered: ‎07-08-2011
0

Re: Zero Hedge

Zerohedge ROCKS!

 

Tyler Durden is the man.

Gold Regular Contributor
sheriff
Posts: 2,324
Registered: ‎06-01-2012

Re: Zero Hedge

Dukey wrote:

PS - the most memorable moment in China was when my colleague and I went to Lohu train station right across the border from HK in Shenzhen side to buy fake Class A Rolex and these 2 young touts were trying to sell us Microsoft softwares.  Well we pulled our wallet out and flashed our business cards and I swear these touts ran away like bat out of hell!  :smileyvery-happy:

 

____________________________________________________________________________________________________

 

So you are there to buy a fake Rolex, and then you complain about software abuses?  Isn't that the pot calling the kettle black?

 

Silver Regular Contributor
Dukey
Posts: 676
Registered: ‎07-08-2011
0

Re: Zero Hedge


sheriff wrote:

Dukey wrote:

PS - the most memorable moment in China was when my colleague and I went to Lohu train station right across the border from HK in Shenzhen side to buy fake Class A Rolex and these 2 young touts were trying to sell us Microsoft softwares.  Well we pulled our wallet out and flashed our business cards and I swear these touts ran away like bat out of hell!  :smileyvery-happy:

 

____________________________________________________________________________________________________

 

So you are there to buy a fake Rolex, and then you complain about software abuses?  Isn't that the pot calling the kettle black?

 


Dude, did I complain about piracy issue?  No - just a story about being approached by touts touting counterfeit Microsoft softwares which I don't need since I got them free or at drastic discount at company store, and even to this day as Alumni with store priviege of up to $600 per year just like the FTEs.

 

Oh BTW I bought it for colleagues and friends as I haven't worn watches since getting the cell phone decade plus ago.

Platinum Super Contributor
buyinghouse
Posts: 5,879
Registered: ‎04-23-2011
0

Re: Zero Hedge


Dukey wrote:

sheriff wrote:

Dukey wrote:

PS - the most memorable moment in China was when my colleague and I went to Lohu train station right across the border from HK in Shenzhen side to buy fake Class A Rolex and these 2 young touts were trying to sell us Microsoft softwares.  Well we pulled our wallet out and flashed our business cards and I swear these touts ran away like bat out of hell!  :smileyvery-happy:

 

____________________________________________________________________________________________________

 

So you are there to buy a fake Rolex, and then you complain about software abuses?  Isn't that the pot calling the kettle black?

 


Dude, did I complain about piracy issue?  No - just a story about being approached by touts touting counterfeit Microsoft softwares which I don't need since I got them free or at drastic discount at company store, and even to this day as Alumni with store priviege of up to $600 per year just like the FTEs.

 

Oh BTW I bought it for colleagues and friends as I haven't worn watches since getting the cell phone decade plus ago.


  I need the Microsoft Office 2010-13. Any deal somewhere?:smileywink:  (I am broke!).