Many of us spent much of 2012 confused about how the U.S. real estate market was improving within the context of a broke and unemployed citizenry. Well as time has passed the answers to our questions have been revealed. The criminals are piling in. I first explained a couple of weeks ago how the financial oligarchs in the United States are currently in a bidding war to become America’s slumlords in my post: America Meet Your New Slumlord: Wall Street.
Now we also discover that part of the bid to U.S. real estate has come from another criminal class. In this case, we are talking about corrupt Chinese officials who are pulling their ill gotten gains from their homeland and desperately placing it in real estate all over the globe. From The Telegraph:
As China’s new leaders intensify a campaign to root out corruption, thousands of Communist party officials have been panicked into a fire sale of their illicit properties while billions of pounds have been smuggled overseas.
It said the volume of deals had intensified by “a hundred times” after Xi Jinping, the incoming Chinese president, warned that corruption could kill the Party and put one of the country’s most vigorous and resolute politicians, Wang Qishan, in charge of stamping out graft.
It also claimed that an astonishing $1 trillion (£630 billion), equivalent to 40 per cent of Britain’s annual GDP, had been smuggled out of China illegally in 2012.
Let’s do a quick recap of some prominent Nobel Prize winners in recent years. Paul Krugman for Economics in 2008. Barack Obama for Peace in 2009. Now we have Mo Yan for Literature in 2012, a Chinese citizen who advocates in favor of censorship. Yes, you heard right, a writer who favors censorship. It gets even better as Mo actually compares speech censorship to security checkpoints at the airport. From the Huffington Post:
STOCKHOLM — This year’s Nobel Prize in literature winner, Mo Yan, who has been criticized for his membership in China’s Communist Party and reluctance to speak out against the country’s government, defended censorship Thursday as something as necessary as airport security checks.
He also suggested he won’t join an appeal calling for the release of the jailed 2010 Peace Prize laureate, Liu Xiaobo, a fellow writer and compatriot.
In addressing the sensitive issue of censorship in China, Mo likened it to the thorough security procedures he was subjected to as he traveled to Stockholm.
“When I was taking my flight, going through the customs … they also wanted to check me – even taking off my belt and shoes,” he said. “But I think these checks are necessary.”
What a guy. Well at least one thing has been proven without a shadow of a doubt at this point. The Nobel Prize means absolutely nothing.
It seems this is just a continuation the censorship meme that has been growing and I highlighted in my piece Here We Go…Slate Magazine Bashes the First Amendment.
Full article here.