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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (242339)	3/26/2010 10:17:24 AM
From: pstuartb	Read Replies (1) \| Respond to of 306849

AJ, a question. You've spent a lot of time in China. How do people there live on $3,180 per year? Here, a street person who panhandles and collects recyclables out of garbage cans can probably make about that much. With that you can afford a bottle of Gallo Port a day, an occasional hamburger, and maybe a warm spot over a grate on the sidewalk. I suppose that $3,180 includes millions of subsistence farmers who have virtually no cash income, and the like. Do you have any idea what the average wage of factory workers is in China?

To: ajtj99 who wrote (242339)	3/26/2010 11:24:35 AM
From: Pogeu Mahone	Respond to of 306849

Absolutly not Dubai is doing very poorly by its citizens and doing very poorly for all the expats as it has bankrupted the majority of them. Because a few at the top are so wealthy it scews the average income in places like doobie and Hong kong. China is way over the edge and heading off a cliff if not already in thin air. as chancels says: >>>Taleb likes to talk about how comfortable people are when they have a map - even if its the wrong map. See Harding's comment at the bottom....we’ll just keep doing what we’ve been doing. We can’t think of what else to do right now.<<<