Category: Theory

The fall of China Mae: Part 3, Everybody laughs at the official statistics

10 March, 2016 (10:00) | Capital markets, China, Cities, Finance, Global news, Housing, Municipal finance, Speculation, Statistics, Theory, Urbanization | 1 comment

By: David A. Smith [Continued from yesterday’s Part 2 and the preceding Part 1.] “FTZs create corporate black boxes through which the anointed may flow money in and out of China.”  – Anne Stevenson-Yang, Research Director. Financial Times. September 26, 2014. Starting from the presumption that one knows nothing about China has proven to be a […]

The fall of China Mae: Part 2, Data disappears when it becomes negative

9 March, 2016 (10:00) | Capital markets, China, Cities, Finance, Global news, Housing, Municipal finance, Speculation, Statistics, Theory, Urbanization |

By: David A. Smith [Continued from yesterday’s Part 1.] “The Chinese government wants you to “buy high, hold indefinitely’” … or else – Anne Stevenson-Yang in Barron’s on September 5, 2015. So facile are human minds that when confronted with a ‘nuclear fact’ – one that entirely disrupts the previous world-view – we can go […]

The fall of China Mae: Part 1, Choose any number that fits

8 March, 2016 (10:00) | Capital markets, China, Cities, Finance, Global news, Housing, Municipal finance, Speculation, Statistics, Theory, Urbanization | 1 comment

By: David A. Smith When they start lying about economic data, short them. – Smith’s Rule of Emerging-Market Investment (Written March, 2016, backdated to June, 2007) In January, 2008, I wrote a two-part blog post, Who’s next?, suggesting that Fannie Mae was overextended and due for a market correction. Though I believed my own prophecy, […]

Opting out of micro-government: Part 9, Fewer in numbers all the time

7 March, 2016 (10:00) | Apartments, Cities, Counties, Democracy, Government, Homeownership, Housing, Innovation, Maine, Mitchell-Lama, Municipal budgeting, Pagedale, Real estate taxes, Schools, Speculation, Theory, Urbanization, US News |

[Continued from yesterday’s Part 8 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, and Part 7.] Before I sleep – Robert Frost By: David A. Smith As we’ve seen in these leisurely ramble through the north Maine woods, for a town to deorganize is no easy matter.  Sources […]

Opting out of micro-government: Part 8, Parent choice is a misunderstanding

4 March, 2016 (10:00) | Apartments, Cities, Counties, Democracy, Government, Homeownership, Housing, Innovation, Maine, Mitchell-Lama, Municipal budgeting, Pagedale, Real estate taxes, Schools, Speculation, Theory, Urbanization, US News |

[Continued from yesterday’s Part 7 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, and Part 6.] And miles to go – Robert Frost By: David A. Smith Closing down a town, as we saw in yesterday’s post following Cary Plantation, Maine, is a more complicated business than it might seem, […]