Friday, October 2, 2015

Chinese & Real Estate: It IS Monopoly Money

Just like?  No, it is monopoly money.  There is nothing to back the credit represented in currency, or the tallies behind the credit cards.  or if there is, it is pennies on the dollar.  One is wise to trade tallies for diamonds.  More risky to do so for property, since at the coming reckoning, the taxes will put unhappy faces on owners of all sorts of property: real estate, pensions, and paychecks.
“They arrive with this endless stream of money without working or earning it. It’s just Monopoly money to them,” says Gotham Dream Cars’ Rob Ferretti of Chinese customers who come to him in search of an exotic ride. They lease cars like the $397,000 Maybach 57S for $2,200 a day. Color-wise, “They love these light blues,” Ferretti says. They’re even particular about the car’s VIN number: They like when it has as many eights in it as possible.
They?  What do you think USA has done around the world the last 70 years?  The Chinese are just beating us at our own game.  Their credit is better.  For now.

Being self-employed, you don't really need much of a paycheck, since the business is the lifestyle.

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