What's this about all the Chinese money moving into Detroit real estate?

**Dan Wesson** · December-13-13, 07:00 PM

Dongdu International Group of Shanghai bought, sight unseen, two downtown icons, the David Stott building for $4.2 million and the Detroit Free Press building for $9.4 million, both at auction this September.

http://www.forbes.com/sites/gordonchang/2013/12/08/chinas-newest-city-we-call-it-detroit/

**night-timer** · December-14-13, 08:37 PM

I've heard some Chinese companies for some reason like to appear 'western' and they do this by placing the company headquarters in a western city and then hiring a western CEO. But there could be many other reasons why someone would buy property.

**Hermod** · December-14-13, 08:40 PM

Originally Posted by night-timer

I've heard some Chinese companies for some reason like to appear 'western' and they do this by placing the company headquarters in a western city and then hiring a western CEO. But there could be many other reasons why someone would buy property.

The secret to profitability is "buy low, sell high".

**Dan Wesson** · December-15-13, 06:43 AM

Apparently China is on a money printing binge of their own, far exceeding the U.S. and Japan.

http://www.zerohedge.com/news/2013-1...s-qe-out-water

A lot of hot money leaving China. The pundits say the Chinese themselves won't be far behind.

**Dan Wesson** · December-15-13, 06:45 AM

Originally Posted by Hermod

The secret to profitability is "buy low, sell high".

Or print your way there. Another form of robbery. Inflation legalized theft from those on the wrong end of the stick.

**Hermod** · December-15-13, 10:09 AM

Originally Posted by Dan Wesson

Or print your way there. Another form of robbery. Inflation legalized theft from those on the wrong end of the stick.

To inject politics into it, runaway inflation is the answer to the national debt and to consumer debt. We could easily trivialize the national debt and free everyone from mortgage and credit card debt with a bit of 100 to 1 inflation. Sucks to have a bank account, life insurance policy, savings bonds, or annuities, but those guys are just undeserving wealthy plutocrats.

**Dan Wesson** · December-15-13, 10:41 AM

Originally Posted by Hermod

To inject politics into it, runaway inflation is the answer to the national debt and to consumer debt. We could easily trivialize the national debt and free everyone from mortgage and credit card debt with a bit of 100 to 1 inflation. Sucks to have a bank account, life insurance policy, savings bonds, or annuities, but those guys are just undeserving wealthy plutocrats.

That's quite an amalgam of economic concept in two sentences.
To parse and define would take some time and then probably have it dissolve into a political contest. Much like talking things Natural with someone who believes the Super Natural.

Runaway inflation didn't do much for Weimar Germany. We are experiencing the same. Not as accelerated as what happened in Germany but still the same only a lot slower. That gallon of milk that used to sell for 39 cents is still the same gallon of milk that now sells for $3.50 and may go much higher I hear.

**Hermod** · December-15-13, 10:59 AM

Originally Posted by Dan Wesson

Runaway inflation didn't do much for Weimar Germany. We are experiencing the same. Not as accelerated as what happened in Germany but still the same only a lot slower. That gallon of milk that used to sell for 39 cents is still the same gallon of milk that now sells for $3.50 and may go much higher I hear.

Except for the 1970s, we have had a gradual inflation [[supposedly the economists feel that a slow and steady rate of inflation is good for the economy.

When i got married in 1961, I bought a life insurance policy, the proceeds of which would have bought a nice house. By 1978, it would barely suffice to buy a nice car.

That is why I worry that some day, the gummint might just decide to print their way out of the national debt.

The money we owe the Chicoms is denominated in dollars and they don't dare call it in for fear the US might hand them a few trillion dollar bills that were run off last Friday in the US mint. Weimars problem was that their reparations were not denominated in marks or they could have printed their way out of the crisis..

**Dan Wesson** · December-15-13, 11:23 AM

Hermod, which is exactly why the Chinese are pushing for doing away with the Dollars World Reserve Currency status. Are you familiar with SDR's?
Recently the Yuan/Renimbi has surpassed the Euro as the worlds 2'nd means of exchange currency. Shanghai and Hong Kong have just signed an agreement to create an exchange solely using the Renimbi.

If the USA loses the Dollars status as World Reserve Currency, we too, will not be able to print our way out the this mess. The TPTB that we as a nation of peoples gave consent to have done us no favors or the world for that matter by being so cavalier with the responsibility of maintaining the confidence and trust in the U.S. Federal Reserve Note.

**davewindsor** · December-15-13, 01:07 PM

Originally Posted by Dan Wesson

Dongdu International Group of Shanghai bought, sight unseen, two downtown icons, the David Stott building for $4.2 million and the Detroit Free Press building for $9.4 million, both at auction this September.

http://www.forbes.com/sites/gordonchang/2013/12/08/chinas-newest-city-we-call-it-detroit/

Thanks a lot for the lame information and deja vu. How about typing your point in the "search site" at the bottom of the page before starting duplicate threads??

You repeated a thread about the Forbes article started 4 days before yours. http://www.detroityes.com/mb/showthr...all-it-Detroit

And I remember reading on here about the Stott and Free Press building being sold to Chinese investors back in October here http://www.detroityes.com/mb/showthr...tott-buildings

Nothing new.

**Dan Wesson** · December-15-13, 05:55 PM

Thanks for the admonishment Dave. I will attempt to attain that level of awareness and diligence that you expect from folks who post here.

Are you a moderator on this forum?

If so could you remove the thread that offends you, it seems that I am unable to do so.

**Gistok** · December-15-13, 07:00 PM

Originally Posted by Dan Wesson

Thanks for the admonishment Dave. I will attempt to attain that level of awareness and diligence that you expect from folks who post here.

Are you a moderator on this forum?

If so could you remove the thread that offends you, it seems that I am unable to do so.

Hey Dan, since you're relatively new here... welcome!

Good lord no... Dave is not a moderator here! The admins will just move your post for you [[forumers don't have merge capabilities)... and they're good about not judging people for duplicate posts.

Some posters here have a total lack of tact, and one can easily mistake them for someone important on this forum...

**davewindsor** · December-15-13, 08:44 PM

Originally Posted by Gistok

Hey Dan, since you're relatively new here... welcome!

Good lord no... Dave is not a moderator here! The admins will just move your post for you [[forumers don't have merge capabilities)... and they're good about not judging people for duplicate posts.

Some posters here have a total lack of tact, and one can easily mistake them for someone important on this forum...

No one's important here; we're all equal on this forum. But, not everyone here has a lot of time on their hands

And, no, the posts often don't get moved. Case in point, Chinese buying these two properties started in October. The Forbes article got it's own thread a week ago and then this same thread is already floating around for a few days now.

To read the same posts over and over again with new people using the same arguments and points in multiple threads, I sense this is gonna be another interminable "Why don't we have another big box retail downtown?" thread that's started by a new person every few weeks followed by a bunch of posters agreeing that something is wrong with the system. I spent dozens of posts in one thread explaining it's based on an algorithm of average household incomes within a couple mile radius. Then someone starts the same thread again with new posters saying the same sh-t again, which is unnecessary if everything was kept under one thread.

I end up skipping half the threads here because it's pointless responding to anything anymore.