Chinese are buying foreclosures now like gangbusters. The U.S. Commerce dept has been sending out a list of willing Chinese buyers to some real estate agents for the last few months.
Just wait until the "Commercial" realestate bubble bursts. :roll:
Buckwheat is selling us out in the name of getting the economy back upright. :roll:
In addition to selling Burkhas, I am expecting a large shipment of chopstix at very resaonable rates for those interested. :shock:
Just wait until the "Commercial" realestate bubble bursts. :roll:
Buckwheat is selling us out in the name of getting the economy back upright. :roll:
In addition to selling Burkhas, I am expecting a large shipment of chopstix at very resaonable rates for those interested. :shock:
Jun 24, 2009, 10:43 p.m. EST
Chinese official urges buying of gold, U.S. land: report
LOS ANGELES (MarketWatch) -- A top Communist Party research chief said Thursday that China should buy gold and U.S. real estate rather than Treasurys, according to a Reuters report.
Li Lianzhong, who is head of economics at the party's policy research office, said the U.S. dollar is poised for a fall, making gold and land better investments for China's $1.95 trillion in foreign exchange reserves, the report said.
It quoted Li as saying Beijing should also focus on buying up energy and natural resources.
His remarks followed just hours after China Petroleum & Chemical Corp. -- better known as Sinopec /quotes/comstock/13*!snp/quotes/nls/snp (SNP 72.28, -0.23, -0.32%) /quotes/comstock/22h!e:386 (HK:386 5.61, +0.02, +0.36%) -- said it had reached a deal to buy oil and gas group Addax Petroleum Corp. /quotes/comstock/11t!axc (CA:AXC 49.75, +0.80, +1.63%) /quotes/comstock/11i!adxtf (ADXT.F 42.85, +0.32, +0.75%) for $7.2 billion. See full story on Sinopec acquisition.