His Point of View

Unless you have been living under a rock, you know that last week the new “World’s Tallest Building” was opened in Dubai(the Burj Khalifa). I have read several articles about the fact that every time there has been an opening of a new World’s Tallest Building, the economy has been in a downturn. At the time when these buildings break ground there is a time of prosperity, which causes someone to splurge and break the old record. Without fail, the economy sours before construction is complete. The silver lining to this cloud is that after each economic downturn the world bounces back stronger and technology takes leaps ahead. We can only wait and see if 2011-2012 bring about a new round of prosperity, or if we will be in the throws of a massive recession/depression fueled by the crash of the Chinese economy(see the next paragraph for more on China’s possible problems).

I also came across the article below which describes James S. Chanos’s view that the global economy is about to take a massive turn further downward. This gentleman believes that the economy of China is about to take a plunge due to several factors and historical patterns. One very interesting suspicion James has is that (continue reading…)