Dear Village Board, Since building empty cities to prop up economic growth in China is the order of the day - why not also here, in Mount Pleasant? The model seems to work.... for now.... "Fancy villas, high-rise apartment blocks, lakes, parks and sprawling road networks: Ghost cities in China have it all. Just one crucial element is missing — the people. Built for a population that never came, about 50 of these surreal sites lay desolate across the country. But still the construction continues. These new cities are usually built in rural areas on the outskirts of existing cities. Designed for populations numbering in the hundreds of thousands, the mass construction projects can include towering high-rise condominiums, huge shopping centres, city squares, street lights and replicas of cities in Europe and elsewhere. "The phenomenon very much has been driven by the debt splurge that really kicked into gear after the global financial crisis," Mr McMahon said. "Local governments around the country tried to juice and stimulate their economies by building more infrastructure and stimulating the property market." This seemingly wasteful construction is carried out by both state-owned firms and private companies". https://www.abc.net.au/news/2018-06-27/china-ghost-cities-show-growth-driven-by-debt/9912186 Meanwhile Foxconn plans to lay off 50,000 workers due to slumping demand for iphones. In addition - the carnage of daily job cuts continues across the economy - while the price for fossil fuels remains too high for consumers, but too low for producers. The Yellow Vest Protests continue in France, Venezuela is a Humanitarian disaster, and Zimbabwe is in total shutdown. Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa’s claim that the country is open for business. As Bloomberg reports, many shops and factories have shut their doors because of a lack of customers and those that continue to trade are open to haggling over prices to secure hard currency. At an appliance shop in the capital, Harare, a salesman whispers that a Whirlpool Corp. washing machine priced at about $5,000 if paid for electronically will sell for $1,500 in cash, while at a nearby electrical warehouse, a $600 invoice is whittled down to $145 for payment in dollar bills. But, as OilPrice.com's Tsvetana Paraskova reports, Zimbabwe is on a three-day nationwide strike and protests are erupting in the streets after the government of the southern African country doubled fuel prices, making gasoline sold in Zimbabwe the most expensive gasoline in the world. https://www.zerohedge.com/news/2019-01-20/it-feels-apocalyptic-letter-zimbabwe-where-country-remains-total-shutdown I note that Tesla is laying off 3,000! GM and Ford - also getting rid of thousands and closing down production facilities in USA. Take a look around at the employment carnage which is on going in USA. http://www.dailyjobcuts.com/ When the Foxconn miracle fails to materialize - sure hope you have that "Plan B" ready.... Sincerely, Tim & Cindy
Sunday, January 20, 2019
Dear Village Board
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