Chinese Purchases of U.S. Real Estate Jump 72% as The Bank of China Facilitates Money Laundering

Screen Shot 2014-07-09 at 12.01.36 PMAmerican citizens already have a hard enough time affording a home. Squeezed out by financial oligarchs buying tens of thousands of properties for rental income, and faced with real wages that haven’t budged since the mid-1970s, the demographic of U.S. citizens that historically dominated the new home market has been forced to live in their parents’ basements. Just to kick em’ when they’re down, Americans now face the impossible task of competing with laundered Chinese money.

Of course, this isn’t a new trend. I first covered it in January 2013 in the post: Corrupt Chinese Politicians are Buying Billions in U.S. Real Estate. This was then followed up a couple of months ago in the piece: Zillow Opens the Floodgates to Chinese Buyers in Order to Keep Housing Bubble 2.0 Inflated.

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Chinese State-Run Media Embarrasses Itself by Proclaiming “Unexpected Benefits of Smog”

In case you weren’t aware, several of China’s major cities have experienced record-breaking, extremely dangerous levels of smog in recent days. For example, here is a shocking picture of Lianyungang, China:

Screen Shot 2013-12-11 at 11.44.18 AM
Photograph: Chinafotopress/Getty Images.

So how did China’s state-run media decide to respond to this environmental and public health disaster? With ridiculous propaganda about the “unexpected benefits” of smog of course. You have to see this to believe it.

From The Guardian:

China’s noxious air pollution has made people smarter, funnier and impervious to missile attacks, the country’s official media reported this week, as a toxic cloud covering half of the country began to lift.

On Monday the website of the state broadcaster CCTV published a list of five “unexpected benefits” brought by the smog.

It said the haze had unified Chinese people, as they found solidarity in their complaints; equalised them, as both rich and poor people were vulnerable to its effects; enlightened them, as they realised the cost of rapid growth; and “made Chinese people more humorous”, as smog-related jokes proliferated on the internet.

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At KFC in China the Ice Cubes are “Dirtier than Toilet Water”

I’ve covered food fraud, stealth inflation and related topics rather consistently for the past couple of years. As one might expect, China has been a hot spot for such activity, including the classic example of rat meat being served as lamb on the streets of Shanghai. Well here’s the latest controversy, ice cubes at KFC that are not just dirtier than toilet water, but 13x dirtier. YUM! From Business Week:

Having battered KFC with reports last year that the company sold chicken fattened on illegal drugs, China Central Television now says the ice cubes at a KFC restaurant are dirtier than toilet water. The state-owned broadcaster found that ice in a Beijing outlet had 13 times as much bacteria as water from a toilet bowl and 20 times the national limit. (McDonald’s ice, according to the CCTV report, had less bacteria than toilet water but still didn’t meet national standards.)

Sure, we’re talking about a cup of ice from one of KFC’s 4,429 restaurants in China. But that didn’t stop CCTV’s report this week from spawning global headlines or getting reposted more than 100,000 times over the weekend on Sina Weibo (SINA), China’s largest microblogging site. With Yum Brands planning to open at least 700 new KFC stores across China this year, the fallout raises questions about the depth of the challenge to the Colonel’s reputation.

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TRAPWIRE: Leaked Stratfor Emails Indicate Sophisticated Surveillance Grid May Exist

TrapWire is the other really interesting story out there at the moment that is not being covered at all in the United States mainstream media, which at this point has become a gigantic joke and national embarrassment (only 21% of Americans trust TV news according to a recent gallup poll). So what do we know … Read more