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From iSteve commenter Abe:

I recently found out that 20% of the houses in my upper middle class subdivision are owned by absentee Chinese landlords. I don’t have time to do a MAGNUM PI style unravelling of all this, but the range of Chinese ownership varies from Brewster & Beckie Han 3rd generation American-as-apple pie Chinese Americans investing their capital in the real estate market to CPC apparatchiks laundering money overseas and several shades in between.

For example, a Chinese family we are friendly with and where mom & dad don’t have particularly lucrative or dazzling careers claim to own several (I think they said over 10!) houses.

Another thing I have seen is Chinese caretaker ‘ancients’ ensconced in houses that look way too expensive for them. For example, a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. The house if maintained and updated is worth $3/4 of a million, but the lawn out front is dead AND YET I see the 1000 year old man out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! It’s as if he was planted in this house to oversee it by its rich overseas owner yet not given enough pocket change (or vehicular mobility) to buy a stupid lawn hose and spray nozzle at Walmart! My best guess is therefore he is some poor country cousin relation of the real owner, likely an overseas CPC muckety-muck with significant business holdings expatriating his wealth to America, then through a network of loose family and client-patron connections installing cheap caretakers at each of his properties to maintain them until such time as it is optimal to sell or rent them out.

Steve years ago already pointed out the common practice of overseas Chinese installing 16 year old relations in their California condos so that they have enough time at CA high schools to then claim in-state tuition benefits for UCLA/BERKELEY.

As America keeps degenerating, both Chinese ownership and flouting of such paper technicalities as who is “American” and who is foreign-Chinese and who can get in-state tuition and who can vote will only increase.

 
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  1. Several years ago on a local talk show, the neighboring county treasurer was talking about absentee owners of property. Besides family members of people who had died recently, there were out of state investors, and “We’ve sent out bills to Canada, China, New Zealand, Europe…..”

  2. • Replies: @Bill B.
    @AKAHorace

    This is what the "conservative" British Tories have just opened up for the UK - without asking anyone what they think of potentially adding five percent of smarter, richer, much more clan aware members to the population with deep links into the great, rival civilizational state.

    Replies: @martin_2

  3. I got in-state tuition at UC Berkeley after being in-state exactly one year. While driving to California I got a flat tire in Barstow. Good thing because I later signed a lease and registered to vote and got a drivers license but when, the next year, they sent me out of state tuition bill they said you have to have physical presence and intent to make it your residence for one full year.

    I found the receipt showing the sale of a tire to me in Barstow one year and a few days before the second year started. They reduced the tuition by thousands of dollars.

  4. Don’t worry. Soon the US will have degenerated to such a pathetic degree that the Chinese won’t even want to come here to take advantage of us anymore.

    • Replies: @Daniel H
    @Hockamaw


    Don’t worry. Soon the US will have degenerated to such a pathetic degree that the Chinese won’t even want to come here to take advantage of us anymore.
     
    That's the hope of the nervous amongst us but don't count on it. As the saying goes, there is a lot of ruin in a nation. Things can get very bad for white Americans who have direct experience or family memory of a happy, stable middle class existence in a spacious, somewhat environmentally preserved America, but it will still be better by, as they say, orders of magnitude over the life endured in, say, Shanghai, Dacca, Mumbai, Lagos, Port au Prince......I so much envy Argentinians, Uruguayans and some others who have managed to maintain basic middle class standards whilst keeping the hordes at bay.
    , @RadicalCenter
    @Hockamaw

    Perhaps, but they'll still be glad to buy up and live as kings in the formerly American places with beautiful weather, such as Hawaii and coastal Southern California.

  5. How to you define a foreign ownership ban to exclude dummies, say Bob has a relative in China that uses him as a dummy to buy a house by buying it in Bob’s name, is there any practical way to stop this?

    • Replies: @Achmed E. Newman
    @128

    No. There isn't. The Chinese play by the Golden Rule, at least most non-Christian society's interpretation: He who hath the gold, maketh the rules.

    Replies: @Johann Ricke, @nobodyofnowhere

    , @Barack Obama's secret Unz account
    @128

    One way might be to pass a law disobliging the repayment of loans from foreigners.

    The "business community" might object.

  6. Immigrants or their families/clans often prefer real estate to other ‘paper’ investments, as they often do in their homelands.

    Plus you can rent to relatives or other immigrants through local origin connections.

    Plus Uncle Sam has a poor scheme for knowing who is collecting house rents, unlike nearly every other kind of taxable income. So lots of tax free (in practice) income. US real estate in many places has been a good solid investment.

    Property rights are respected here (other than in Woke ruled cities).

    So the Chinese are just being smart. Other foreigners who send migrants also do this as well. Rent houses are popular with Americans too.

    • Agree: Corvinus
    • Replies: @bomag
    @Muggles

    Everything you say is true, but it is something heritage Americans should guard and use for themselves.

    Other places in the world zealously guard who owns property, knowing instinctively its scarcity value.

  7. Peterike’s Law in action. Thank you, and good night.

  8. I wouldn’t be quick to leap to a nefarious conclusion about normal-looking people who are able to own real estate. Or even normal-looking people who are otherwise financially successful. It’s one of those businesses that normal people can often be successful at.

    • Replies: @Known Fact
    @Dark

    Richard Ford's novel The Lay of the Land is about a run-of-the-mill middle-aged guy who gets into New Jersey real estate as a broker and landlord, and it's one of the drop-dead funniest things I've ever read.

  9. Get them citizenship and they’ll all vote against the next Prop 16, but without the SAT their numbers may drop at Berkeley.

    • Replies: @Daniel H
    @Bill in Glendale


    Get them citizenship and they’ll all vote against the next Prop 16, but without the SAT their numbers may drop at Berkeley.
     
    I supported Proposition 16 and would support another attempt. Every alt-woke white American should do everything in his power to hurt his enemies. Don't run interference for your enemies. What, are you a Republican?
  10. It’s time to support the left’s “de-colonization” efforts. Let’s start with these folks.

  11. Q: What do white Americans and pandas have in common?

    A: Both are fat, lazy, owned by the Chinese, and won’t breed to save their race.

    • Agree: Bert
    • Replies: @128
    @Thomas

    But the Chinese see the value in preserving one of them for posterity, unlike the other one?

    , @Anonymous
    @Thomas

    "Eats Shoots and Leaves".

  12. You sure the clueless old man in tattered clothing wasn’t Joe Biden?

  13. A house on my street (in non-Manhattan NYC), after being gutted and renovated, was (apparently) purchased by a Chinese couple who live upstairs and have renters downstairs. The price was around $900,000, and they don’t look like the sort of people who have that kind of money. (At one point I found the woman gathering acorns from my front yard — presumably to make some sort of Chinese treat, but her English wasn’t good enough to really explain). However they are very conscientious about about tending to the outside of the house.

    I’ve noticed a lot of other elderly Chinese living in fancy houses in the neighborhood, and I’ve wondered what was going on. I thought maybe they were the parents of rich CCP princelings who were being parked in America for some reason, but caretakers is probably a better explanation. Actually now that I think of it, a family I know fairly well recently sold their home (in another city) to a Chinese couple that owned a portfolio of similar properties, and who could easily be fronting for investors in China. If so that would be very interesting; yet somehow I doubt this phenomena will ever be the subject of hard-hitting mainstream investigative journalism…

  14. “… common practice of overseas Chinese installing 16 year old relations in their California condos so that they have enough time at CA high schools to then claim in-state tuition benefits…”

    So common that even my wife’s California super liberal cousin complains about it. When her daughter took the AP calculus test, she was the only non-Asian.

    And that was ten years ago. The battle for California is long over.

  15. Joke’s on the Chinese. Their American real estate portfolios, passports, college degrees, and voter registrations will soon be worth a lot less than they paid for them, because the USA is turning into another Haiti.

    • Replies: @Jack D
    @Dave

    Even if they decline in value they will probably have at least SOME value. They are not looking for return on investment. They are trying to park their money in a relatively safe place.

    The thing about living in a Communist country is that you are never really sure you will get to keep what you have. One day the government could declare a "currency reform" and declare all your money worthless. Or you could get into some kind of political trouble and the government could arrest you and seize your business. It might never happen or it could happen tomorrow. You can never be quite sure. If you can get at least SOME of your wealth out of the country and maybe one of your kids then at least you know that even if it all goes bad in China (again - wouldn't be the 1st time) it hasn't all been for nought.

    Replies: @Achmed E. Newman, @Peterike, @Daniel H, @Anonymous

    , @AnotherDad
    @Dave


    Joke’s on the Chinese. Their American real estate portfolios, passports, college degrees, and voter registrations will soon be worth a lot less than they paid for them, because the USA is turning into another Haiti.
     
    Ultimately--if the "nation of immigrants" fraudeology continues--we will be the shittiest nation on earth. (People from shittier nations will come and come and come until we are the shittiest.)

    But that will not happen for quite some time. With even a half-white population--and, of course various amenities built up by prior white generations--we will be a nicer, more prosperous place than most places on the planet.

    And the deal is real estate prices aren't just about how "nice" someplace is, but about how many people need housing relative to the supply. Seattle is way, way less nice than it was a generation back ... but way, way, way more expensive. Los Angeles, San Francisco ... actually pretty much all big coast metros in the US. China and India have expensive housing.

    The US had cheap housing when it was the best place on earth to live. Now we're headed toward Asiatic housing affordability. Thank--as with everything else--the minoritarians, the "nation of immigrants" people.
  16. OT:

    I could swear that, earlier today, I saw a comment on iSteve about Godiva’s decision to close all of its stores in the United States. But I haven’t been able to find it.

    Has anyone compiled a list of all of the national chains that have shut down over the last year?

    One mistake Godiva made was keeping its stores closed too long, The location at my local mall did not reopen until the fall. In late September, I noted that while many stores already had their Halloween products on display, the signs in the darkened Godiva window were still advertising Easter wares.

    That same mall has lost one of its anchors (Nordstrom) and a number of smaller stores. Hollister, where the snooty popular kids bought their ridiculously-overpriced T-shirts, is gone. The embarrassingly-derivative Microsoft store (“We’re Just as Kewl as Apple!”) is gone. Several joints in the food court are gone. (Chick-fil-A remains, and is still very popular.) And this is at one of the most successful malls in the United States, a shopping destination that still draws sizable crowds.

    Just a little while ago I happened to pass by the site of an Italian restaurant I used to frequent. It first opened around thirty years ago but shut down during the initial COVID wave and never reopened. The building had been razed to the ground.

    A few weeks ago, New York magazine ran a cover story featuring obituaries for the local businesses that closed in 2020. It was a long and illustrious list.

    • Replies: @Achmed E. Newman
    @Stan Adams

    Stan, we had our 2 favorite restaurants near where my Mom lives close down for good. Another one near here was my brother's favorite for 40 years. I didn't break the news to him for a couple of months.

    I think the malls were going under steadily since before all the COVID business. On-line shopping and too many damn dangerous or just annoying black people were the reasons, IMO. This PanicFest probably accelerated it.

    Replies: @Jack D, @Known Fact

    , @anon
    @Stan Adams

    I could swear that, earlier today, I saw a comment on iSteve about Godiva’s decision to close all of its stores in the United States. But I haven’t been able to find it.

    https://www.khou.com/article/news/nation-world/godiva-to-close-or-sell-all-its-stores-in-the-united-states/507-ea23c972-b517-464a-980a-4c533a8656a0

  17. I assume Abe is in California? I was talking to a Pasadena local, a low level figure in the entertainment industry and predictably liberal leaning, who said with some disgust that “all of San Marino” (the even wealthier enclave south of Pasadena) is now owned by absentee Chinese nationals.

    While the major political figures in both parties want to invite the world, I suspect that vast majorities of American citizens would like to see a slowdown of all immigration, including the wealthy and skilled elites.

    • Replies: @Neuday
    @John Milton’s Ghost


    I assume Abe is in California? I was talking to a Pasadena local, a low level figure in the entertainment industry and predictably liberal leaning, who said with some disgust that “all of San Marino” (the even wealthier enclave south of Pasadena) is now owned by absentee Chinese nationals.
     
    Having all the working class and middle-class neighborhoods throughout California turn Mexican over the past few decades has been a good thing but when the tony part of Pasadena turns Chinese it's disgusting? Most people would much rather live next to absentee Chinese than 3 families of Guatemalans, and the schools and social services are impacted less, as well.
    , @Alfa158
    @John Milton’s Ghost

    I used to work in the San Marino area. Chinese students from San Marino High would drive to the fast food places at lunchtime in BMWs and Porsches. One time I was having lunch at a hamburger joint and the kids at the table next to me ordered just water with their meal, then filled the cups with soda. The Mexican proprietor came over and silently took away their sodas. Apparently it was a common practice and he would watch for it. The Little Princes thought it was hilarious.

    Replies: @Jack D

    , @Anonymous
    @John Milton’s Ghost

    From Wiki:

    "To a prior generation of Southern Californians, San Marino was known for its old-money wealth and as a bastion of the region's WASP gentry. By mid-century, other European ethnic groups had become the majority. [But] In 1970, the city was [still] 99.7% White"

    Fifty years later, it's 60% Asian.

    I'm sure the beleaguered long-time white residents who've witnessed this transformation would love a time-out. If something similar happened to upscale places where Very Important People congregate, like Beverly Hills, Bel Air or Westchester enclaves like Katonah and Chappaqua, the current mass undigestible flood of immigrants would have been long shutoff.

  18. I have heard very similar stories from friends in Japan and Italy.

  19. @Thomas
    Q: What do white Americans and pandas have in common?

    A: Both are fat, lazy, owned by the Chinese, and won't breed to save their race.

    Replies: @128, @Anonymous

    But the Chinese see the value in preserving one of them for posterity, unlike the other one?

  20. I always wonder if some alien will take up interest in preserving say, white people and teleport them to another planet that is set up as a nature preserve for them.

    • Replies: @Known Fact
    @128

    That'll be just great -- they'll enslave us men to fight other species for their jaded amusement and use our women to slake their fiendish many-tentacled lust.

    On second thought, they might beam some of the women back to Earth

    , @Forbes
    @128

    If you're to preserve a living organism, it's best to do it in its native habitat, rather than in captivity.

    Zoo animals are a modern form of enslavement--why the Left allows zoo captivity should be a warning to all...

  21. This reminds me that California’s population dropped in 2020 for the first time ever. It is the sort of thing that would usually inspire an iSteve post.

    https://www.newgeography.com/content/006891-california-loses-70000-residents-2019-2020#:~:text=The%20Census%20Bureau%20has%20just,lost%2070%2C000%20residents%20last%20year.

  22. For example, a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. …out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! ….My best guess is therefore he is some poor country cousin relation of the real owner,

    Maybe and maybe he IS the real owner. One of the ways you get to own a $750,000 house is by NOT spending money on “unnecessary” things like nice clothes and garden hoses.

    For a Chinese man of his generation, having plumbing in the house is ALREADY an unimaginable luxury, forget about the garden hose. He might even be unfamiliar with the concept of garden hoses and if you tried to explain it to him he might not “get it” at all. I have running water in my house already – why do I need this hose thing when I have a perfectly good milk jug that I can use to water my plants? It would save time? I not too busy.

    • Replies: @128
    @Jack D

    I am sure some working stiff from the middle of Kano, Nigeria would know what a garden hose is.

    Replies: @Jack D

    , @Neuday
    @Jack D

    I'm reminded of when the Hmong started colonizing California in the 1980's; rumor had it they thought kitchen cabinets were nesting boxes for chickens.

    , @1661er
    @Jack D

    Or if he is like my mother, the water in the jugs are grey water, from the bathtub after shower or kitchen sink after washing dishes.

    There are people who grew up with the need to ferry water from well/river/etc. to supplement rain water storage tend to have habit of making every drop count.

  23. @Jack D

    For example, a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. ...out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! ....My best guess is therefore he is some poor country cousin relation of the real owner,

     

    Maybe and maybe he IS the real owner. One of the ways you get to own a $750,000 house is by NOT spending money on "unnecessary" things like nice clothes and garden hoses.

    For a Chinese man of his generation, having plumbing in the house is ALREADY an unimaginable luxury, forget about the garden hose. He might even be unfamiliar with the concept of garden hoses and if you tried to explain it to him he might not "get it" at all. I have running water in my house already - why do I need this hose thing when I have a perfectly good milk jug that I can use to water my plants? It would save time? I not too busy.

    Replies: @128, @Neuday, @1661er

    I am sure some working stiff from the middle of Kano, Nigeria would know what a garden hose is.

    • Replies: @Jack D
    @128

    Are you sure about that?

    https://cdn.cfr.org/sites/default/files/styles/full_width_xl/public/image/2020/04/Nigeria-Kano-Street-Vendors.JPG?h=0806b063

  24. @Dave
    Joke's on the Chinese. Their American real estate portfolios, passports, college degrees, and voter registrations will soon be worth a lot less than they paid for them, because the USA is turning into another Haiti.

    Replies: @Jack D, @AnotherDad

    Even if they decline in value they will probably have at least SOME value. They are not looking for return on investment. They are trying to park their money in a relatively safe place.

    The thing about living in a Communist country is that you are never really sure you will get to keep what you have. One day the government could declare a “currency reform” and declare all your money worthless. Or you could get into some kind of political trouble and the government could arrest you and seize your business. It might never happen or it could happen tomorrow. You can never be quite sure. If you can get at least SOME of your wealth out of the country and maybe one of your kids then at least you know that even if it all goes bad in China (again – wouldn’t be the 1st time) it hasn’t all been for nought.

    • Agree: Ben tillman, Jim Don Bob
    • Replies: @Achmed E. Newman
    @Jack D

    I have personal information on this sort of thing, Jack, and you got it right on the money. I will add that the children sent here are often "anchor children". That's not exactly like an "anchor baby", but with our immigration system with all manner of immigration visas out the ying-yang, if a child can get some position in education, and get that green card, then citizenship, the parents can get to stay via various "family reunification" or illegal efforts.

    I agreed with that comment by Abe under the other post. There is so much advantage-taking going on by the Chinese, you've never seen such #TakingAdvantage. Peak Stupidity commented on one more small thing, the Chinese Visiting Scholar Scam. Yeah, we REALLY NEED visiting scholars whose majors are ENGLISH.

    I'll say this regarding those Chinese people in higher Ed. Unless they have green cards, they are part of an exodus going on right now. It's one benefit of the Kung Flu panic. They've got to get home while they can, at least those with families split up between here and there.

    , @Peterike
    @Jack D

    “ The thing about living in a Communist country is that you are never really sure you will get to keep what you have.”

    Yeah because one day the local Jews might team up with American Jews to buy up all the valuable assets for pennies on the dollar.

    But nah, that could never happen.

    Replies: @Jack D, @Paperback Writer

    , @Daniel H
    @Jack D

    The thing about living in a Communist country.....

    China is not a communist country. You are mouthing cuck talking points here.

    Replies: @Jack D, @Reg Cæsar, @Icy Blast

    , @Anonymous
    @Jack D

    Well, the neo-liberal and extremely economically free market and right wing 'New Labour' government in the UK had the jolly wheeze of confiscating the bulk of accumulated wealth, including housing, by the simple expedient of claiming it as state property post mortem of the principal.

    Unsurprisingly, New Labour were ejected from political office.

  25. @128
    How to you define a foreign ownership ban to exclude dummies, say Bob has a relative in China that uses him as a dummy to buy a house by buying it in Bob's name, is there any practical way to stop this?

    Replies: @Achmed E. Newman, @Barack Obama's secret Unz account

    No. There isn’t. The Chinese play by the Golden Rule, at least most non-Christian society’s interpretation: He who hath the gold, maketh the rules.

    • Replies: @Johann Ricke
    @Achmed E. Newman

    Corrected text struck out and replaced, in bold:


    No. There isn’t. The Chinese play by the Golden Rule, at least most non-Christian society’s interpretation: He who hath the gold, maketh the rules. hath the throne, gets the gold.
     
    Xi Jinping makes Slow Joe look like Mr. Incorruptible, and this was before Xi assumed the throne:

    https://www.theguardian.com/world/2012/jun/29/china-bloomberg-xi-jinping
    , @nobodyofnowhere
    @Achmed E. Newman

    Doesn't seem to have worked out that way for Jack Ma.

    Replies: @Achmed E. Newman

  26. “I recently found out that 20% of the houses in my upper middle class subdivision are owned by absentee Chinese landlords. I don’t have time to do a MAGNUM PI style unravelling of all this, but the range of Chinese ownership varies from Brewster & Beckie Han 3rd generation American-as-apple pie Chinese Americans investing their capital in the real estate market to CPC apparatchiks laundering money overseas and several shades in between.”

    OK, so what should be done about it, Abe?

    https://www.nytimes.com/2017/07/21/upshot/when-the-empty-apartment-next-door-is-owned-by-an-oligarch.html

    Vancouver instituted a 15 percent tax on home purchases by foreign nationals last year to discourage them, and Toronto has done the same. But that approach could miss money traveling through extended families, local middlemen or opaque corporations determined to hide a buyer’s identity. And such a tax — if it’s aimed at curbing properties that are purely investments and not residences — requires exceptions for legal immigrants who intend to work and make their homes in the city.

    Rhys Kesselman, another professor at Simon Fraser University, has proposed an intriguing alternative: a property surtax tilted toward high-end homes that would be deductible against the owner’s income tax. Local residents paying income taxes would effectively owe no surtax. Out-of-town investors, foreign or domestic, who don’t work in the local economy would be hardest hit (with some concessions for resident retirees).

  27. @Jack D
    @Dave

    Even if they decline in value they will probably have at least SOME value. They are not looking for return on investment. They are trying to park their money in a relatively safe place.

    The thing about living in a Communist country is that you are never really sure you will get to keep what you have. One day the government could declare a "currency reform" and declare all your money worthless. Or you could get into some kind of political trouble and the government could arrest you and seize your business. It might never happen or it could happen tomorrow. You can never be quite sure. If you can get at least SOME of your wealth out of the country and maybe one of your kids then at least you know that even if it all goes bad in China (again - wouldn't be the 1st time) it hasn't all been for nought.

    Replies: @Achmed E. Newman, @Peterike, @Daniel H, @Anonymous

    I have personal information on this sort of thing, Jack, and you got it right on the money. I will add that the children sent here are often “anchor children”. That’s not exactly like an “anchor baby”, but with our immigration system with all manner of immigration visas out the ying-yang, if a child can get some position in education, and get that green card, then citizenship, the parents can get to stay via various “family reunification” or illegal efforts.

    I agreed with that comment by Abe under the other post. There is so much advantage-taking going on by the Chinese, you’ve never seen such #TakingAdvantage. Peak Stupidity commented on one more small thing, the Chinese Visiting Scholar Scam. Yeah, we REALLY NEED visiting scholars whose majors are ENGLISH.

    I’ll say this regarding those Chinese people in higher Ed. Unless they have green cards, they are part of an exodus going on right now. It’s one benefit of the Kung Flu panic. They’ve got to get home while they can, at least those with families split up between here and there.

  28. @Stan Adams
    OT:

    I could swear that, earlier today, I saw a comment on iSteve about Godiva's decision to close all of its stores in the United States. But I haven't been able to find it.

    Has anyone compiled a list of all of the national chains that have shut down over the last year?

    One mistake Godiva made was keeping its stores closed too long, The location at my local mall did not reopen until the fall. In late September, I noted that while many stores already had their Halloween products on display, the signs in the darkened Godiva window were still advertising Easter wares.

    That same mall has lost one of its anchors (Nordstrom) and a number of smaller stores. Hollister, where the snooty popular kids bought their ridiculously-overpriced T-shirts, is gone. The embarrassingly-derivative Microsoft store ("We're Just as Kewl as Apple!") is gone. Several joints in the food court are gone. (Chick-fil-A remains, and is still very popular.) And this is at one of the most successful malls in the United States, a shopping destination that still draws sizable crowds.

    Just a little while ago I happened to pass by the site of an Italian restaurant I used to frequent. It first opened around thirty years ago but shut down during the initial COVID wave and never reopened. The building had been razed to the ground.

    A few weeks ago, New York magazine ran a cover story featuring obituaries for the local businesses that closed in 2020. It was a long and illustrious list.

    Replies: @Achmed E. Newman, @anon

    Stan, we had our 2 favorite restaurants near where my Mom lives close down for good. Another one near here was my brother’s favorite for 40 years. I didn’t break the news to him for a couple of months.

    I think the malls were going under steadily since before all the COVID business. On-line shopping and too many damn dangerous or just annoying black people were the reasons, IMO. This PanicFest probably accelerated it.

    • Replies: @Jack D
    @Achmed E. Newman

    There was a German movie made a while ago called "Goodbye Lenin!" - the premise of the movie is that a mother who is a loyal Communist falls into a coma in E. Germany in October 1989 and when she awakens 8 months later the Berlin Wall has fallen and Communism is over but her kids are afraid that if they tell her the shock will kill her. So they try to conceal it from her. They repackage new Western food in old East German jars and keep dressing in E. German style clothes. The deception grows increasingly complicated as the mom witnesses strange occurrences, such as a gigantic Coca-Cola banner on an adjacent building. The kids create fake news broadcasts from old East German news tapes to explain these odd events - for example that East Germany is now accepting refugees from the West following an economic crisis there.

    Anyway, someone should do a 2020 remake involving Covid - mom is a loyal Fox News watcher who wakes up after a coma. Everyone is wearing face diapers. Joe Biden is President. There are all these strange BLM signs and all her favorite restaurants are out of business. Somehow her kids have to invent fake news broadcasts to explain this all.

    Replies: @BenKenobi, @Achmed E. Newman, @Neuday

    , @Known Fact
    @Achmed E. Newman

    Someone posted a link to a subreddit on dead or dying malls. They're already like eerie archaeological ruins, clues to a once-thriving civilization but what happened to all the people?

    Replies: @Jack D, @JerseyJeffersonian

  29. How are they doing now with the moratorium on evictions? I bet a bunch of them are not happy campers.

  30. @Achmed E. Newman
    @Stan Adams

    Stan, we had our 2 favorite restaurants near where my Mom lives close down for good. Another one near here was my brother's favorite for 40 years. I didn't break the news to him for a couple of months.

    I think the malls were going under steadily since before all the COVID business. On-line shopping and too many damn dangerous or just annoying black people were the reasons, IMO. This PanicFest probably accelerated it.

    Replies: @Jack D, @Known Fact

    There was a German movie made a while ago called “Goodbye Lenin!” – the premise of the movie is that a mother who is a loyal Communist falls into a coma in E. Germany in October 1989 and when she awakens 8 months later the Berlin Wall has fallen and Communism is over but her kids are afraid that if they tell her the shock will kill her. So they try to conceal it from her. They repackage new Western food in old East German jars and keep dressing in E. German style clothes. The deception grows increasingly complicated as the mom witnesses strange occurrences, such as a gigantic Coca-Cola banner on an adjacent building. The kids create fake news broadcasts from old East German news tapes to explain these odd events – for example that East Germany is now accepting refugees from the West following an economic crisis there.

    Anyway, someone should do a 2020 remake involving Covid – mom is a loyal Fox News watcher who wakes up after a coma. Everyone is wearing face diapers. Joe Biden is President. There are all these strange BLM signs and all her favorite restaurants are out of business. Somehow her kids have to invent fake news broadcasts to explain this all.

    • Thanks: TomSchmidt, RadicalCenter
    • Replies: @BenKenobi
    @Jack D


    Everyone is wearing face diapers
     
    I thought you were a true believer in the Holocough? Didn’t you previously say that “wearing a slip of cloth over your face is no big deal”?

    Replies: @Barack Obama's secret Unz account

    , @Achmed E. Newman
    @Jack D

    Haha! I like it, Jack. Attach 3 copies of your treatment, in .pdf format, to one of your comments, as Steve knows a guy through the great-aunt of his brother's nephew's pool boy who is a big producer over there in Studio City. I expect you two will do well with a feature film, one I will be the first to put on hold at the library once it comes out in Blu-Ray.

    OK, I get like this sometimes. I'll see if I can get ahold of that German movie, Jack, hopefully with English subtitles. Thanks.

    , @Neuday
    @Jack D

    You could make a similar movie called "Goodbye, Reagan", where Republican strategist and consultant Lee Atwater falls into a coma just before Reagan got tricked into signing the Immigration Amnesty act and then wakes up in Simi Valley in 2007. The rest of the GOP hides all the signs of immigration from Lee, who continues to convince Republicans that the path to electoral victory lies in tax cuts, Enterprise Zones in the inner cities, and bipartisanship to avoid being called "racist" or "judgemental". One day he sees a billboard for Jarritos, but the shock is soothed after being told it goes well with Taco Bell and a lot of Natural Conservatives like to drink it.

  31. @Jack D
    @Dave

    Even if they decline in value they will probably have at least SOME value. They are not looking for return on investment. They are trying to park their money in a relatively safe place.

    The thing about living in a Communist country is that you are never really sure you will get to keep what you have. One day the government could declare a "currency reform" and declare all your money worthless. Or you could get into some kind of political trouble and the government could arrest you and seize your business. It might never happen or it could happen tomorrow. You can never be quite sure. If you can get at least SOME of your wealth out of the country and maybe one of your kids then at least you know that even if it all goes bad in China (again - wouldn't be the 1st time) it hasn't all been for nought.

    Replies: @Achmed E. Newman, @Peterike, @Daniel H, @Anonymous

    “ The thing about living in a Communist country is that you are never really sure you will get to keep what you have.”

    Yeah because one day the local Jews might team up with American Jews to buy up all the valuable assets for pennies on the dollar.

    But nah, that could never happen.

    • Replies: @Jack D
    @Peterike

    It must be so tedious to see the world only thru the lens of anti-Semitism.

    Nice weather today, Peter.

    "Yeah, it would be if the Joos hadn't ruined EVERYTHING."

    Replies: @Wilkey

    , @Paperback Writer
    @Peterike

    They don't have local Jews in China.

    Replies: @1661er

  32. The cultural dysfunction and the absolutely dizzying descent into previously unimagined dystopian circumstances proceeds apace.

    I notice an increasing number of people wearing two masks. By April, three at a minimum.

    • Replies: @Barack Obama's secret Unz account
    @Just another serf

    I wonder if this is related to the proliferation of monitors on the desks of office drones - shares an underlying psychological mechanism, I mean, since monitor proliferation predates COVID

  33. @Hockamaw
    Don’t worry. Soon the US will have degenerated to such a pathetic degree that the Chinese won’t even want to come here to take advantage of us anymore.

    Replies: @Daniel H, @RadicalCenter

    Don’t worry. Soon the US will have degenerated to such a pathetic degree that the Chinese won’t even want to come here to take advantage of us anymore.

    That’s the hope of the nervous amongst us but don’t count on it. As the saying goes, there is a lot of ruin in a nation. Things can get very bad for white Americans who have direct experience or family memory of a happy, stable middle class existence in a spacious, somewhat environmentally preserved America, but it will still be better by, as they say, orders of magnitude over the life endured in, say, Shanghai, Dacca, Mumbai, Lagos, Port au Prince……I so much envy Argentinians, Uruguayans and some others who have managed to maintain basic middle class standards whilst keeping the hordes at bay.

  34. @Bill in Glendale
    Get them citizenship and they'll all vote against the next Prop 16, but without the SAT their numbers may drop at Berkeley.

    Replies: @Daniel H

    Get them citizenship and they’ll all vote against the next Prop 16, but without the SAT their numbers may drop at Berkeley.

    I supported Proposition 16 and would support another attempt. Every alt-woke white American should do everything in his power to hurt his enemies. Don’t run interference for your enemies. What, are you a Republican?

  35. @Achmed E. Newman
    @128

    No. There isn't. The Chinese play by the Golden Rule, at least most non-Christian society's interpretation: He who hath the gold, maketh the rules.

    Replies: @Johann Ricke, @nobodyofnowhere

    Corrected text struck out and replaced, in bold:

    No. There isn’t. The Chinese play by the Golden Rule, at least most non-Christian society’s interpretation: He who hath the gold, maketh the rules. hath the throne, gets the gold.

    Xi Jinping makes Slow Joe look like Mr. Incorruptible, and this was before Xi assumed the throne:

    https://www.theguardian.com/world/2012/jun/29/china-bloomberg-xi-jinping

  36. @Jack D
    @Achmed E. Newman

    There was a German movie made a while ago called "Goodbye Lenin!" - the premise of the movie is that a mother who is a loyal Communist falls into a coma in E. Germany in October 1989 and when she awakens 8 months later the Berlin Wall has fallen and Communism is over but her kids are afraid that if they tell her the shock will kill her. So they try to conceal it from her. They repackage new Western food in old East German jars and keep dressing in E. German style clothes. The deception grows increasingly complicated as the mom witnesses strange occurrences, such as a gigantic Coca-Cola banner on an adjacent building. The kids create fake news broadcasts from old East German news tapes to explain these odd events - for example that East Germany is now accepting refugees from the West following an economic crisis there.

    Anyway, someone should do a 2020 remake involving Covid - mom is a loyal Fox News watcher who wakes up after a coma. Everyone is wearing face diapers. Joe Biden is President. There are all these strange BLM signs and all her favorite restaurants are out of business. Somehow her kids have to invent fake news broadcasts to explain this all.

    Replies: @BenKenobi, @Achmed E. Newman, @Neuday

    Everyone is wearing face diapers

    I thought you were a true believer in the Holocough? Didn’t you previously say that “wearing a slip of cloth over your face is no big deal”?

    • Replies: @Barack Obama's secret Unz account
    @BenKenobi


    Holocough
     
    Bravo
  37. @Jack D
    @Dave

    Even if they decline in value they will probably have at least SOME value. They are not looking for return on investment. They are trying to park their money in a relatively safe place.

    The thing about living in a Communist country is that you are never really sure you will get to keep what you have. One day the government could declare a "currency reform" and declare all your money worthless. Or you could get into some kind of political trouble and the government could arrest you and seize your business. It might never happen or it could happen tomorrow. You can never be quite sure. If you can get at least SOME of your wealth out of the country and maybe one of your kids then at least you know that even if it all goes bad in China (again - wouldn't be the 1st time) it hasn't all been for nought.

    Replies: @Achmed E. Newman, @Peterike, @Daniel H, @Anonymous

    The thing about living in a Communist country…..

    China is not a communist country. You are mouthing cuck talking points here.

    • Replies: @Jack D
    @Daniel H

    Ok, a kleptocracy or whatever. Same difference. The point is that it is not a place with rule of law where property rights are sacrosanct.

    Now the US is getting to be more like that t00 - the people building the Keystone Pipeline had their entire investment rendered worthless the other day by a stroke [Joe - "don't say that word"] of Joe Biden's pen. But we're not up to Chinese levels of political risk yet. Yet.

    Replies: @JMcG

    , @Reg Cæsar
    @Daniel H


    China is not a communist country.
     
    That means they-- or you-- are lying.


    https://www.odi.org/sites/odi.org.uk/files/paragraph-images/8165951836_e653d53977_o_1.jpg

    Replies: @AKAHorace

    , @Icy Blast
    @Daniel H

    Actual communism has never been tried, right? You are so totally smart and cool and stuff! The CIA can't fool you, right?

  38. @Dark
    I wouldn't be quick to leap to a nefarious conclusion about normal-looking people who are able to own real estate. Or even normal-looking people who are otherwise financially successful. It's one of those businesses that normal people can often be successful at.

    Replies: @Known Fact

    Richard Ford’s novel The Lay of the Land is about a run-of-the-mill middle-aged guy who gets into New Jersey real estate as a broker and landlord, and it’s one of the drop-dead funniest things I’ve ever read.

  39. @Jack D
    @Achmed E. Newman

    There was a German movie made a while ago called "Goodbye Lenin!" - the premise of the movie is that a mother who is a loyal Communist falls into a coma in E. Germany in October 1989 and when she awakens 8 months later the Berlin Wall has fallen and Communism is over but her kids are afraid that if they tell her the shock will kill her. So they try to conceal it from her. They repackage new Western food in old East German jars and keep dressing in E. German style clothes. The deception grows increasingly complicated as the mom witnesses strange occurrences, such as a gigantic Coca-Cola banner on an adjacent building. The kids create fake news broadcasts from old East German news tapes to explain these odd events - for example that East Germany is now accepting refugees from the West following an economic crisis there.

    Anyway, someone should do a 2020 remake involving Covid - mom is a loyal Fox News watcher who wakes up after a coma. Everyone is wearing face diapers. Joe Biden is President. There are all these strange BLM signs and all her favorite restaurants are out of business. Somehow her kids have to invent fake news broadcasts to explain this all.

    Replies: @BenKenobi, @Achmed E. Newman, @Neuday

    Haha! I like it, Jack. Attach 3 copies of your treatment, in .pdf format, to one of your comments, as Steve knows a guy through the great-aunt of his brother’s nephew’s pool boy who is a big producer over there in Studio City. I expect you two will do well with a feature film, one I will be the first to put on hold at the library once it comes out in Blu-Ray.

    OK, I get like this sometimes. I’ll see if I can get ahold of that German movie, Jack, hopefully with English subtitles. Thanks.

  40. As someone mentioned, the obvious way to address is to charge for non-citizen ownership, and charge a hell of a lot more than 15%.

    • Replies: @128
    @education realist

    How to you filter out the dummy buyers, how reliable of tax returns?

    Replies: @Barack Obama's secret Unz account

  41. @Achmed E. Newman
    @Stan Adams

    Stan, we had our 2 favorite restaurants near where my Mom lives close down for good. Another one near here was my brother's favorite for 40 years. I didn't break the news to him for a couple of months.

    I think the malls were going under steadily since before all the COVID business. On-line shopping and too many damn dangerous or just annoying black people were the reasons, IMO. This PanicFest probably accelerated it.

    Replies: @Jack D, @Known Fact

    Someone posted a link to a subreddit on dead or dying malls. They’re already like eerie archaeological ruins, clues to a once-thriving civilization but what happened to all the people?

    • Replies: @Jack D
    @Known Fact

    Capitalism is a process of creative destruction. I'm old enough to remember when the malls came in and emptied out the downtowns of America. Now it's the mall's turn to meet the Grim Reaper of capitalism. One day something new will come and slay Amazon just as Sears Roebuck & Co. was slain. And so it goes.

    , @JerseyJeffersonian
    @Known Fact

    James Kunstler has been predicting this would happen whenever the justifications for their existence no longer obtained. It's all part of what he calls The Long Emergency. Way, way beyond capitalism re-inventing itself.

  42. @education realist
    As someone mentioned, the obvious way to address is to charge for non-citizen ownership, and charge a hell of a lot more than 15%.

    Replies: @128

    How to you filter out the dummy buyers, how reliable of tax returns?

    • Replies: @Barack Obama's secret Unz account
    @128

    lol this guy sounds like a Chinese guy trying to find out what the round-eyes are going to try next

    "How to protec investment, how to escep freedom? I am dollars"

  43. For example, some parent paying for his children’s rental of an apartment near school constitutes a valid circumstance and is above board.

    • Replies: @RadicalCenter
    @128

    Rental by non-citizens, fine. Purchases by non-citizens, no.

  44. @128
    I always wonder if some alien will take up interest in preserving say, white people and teleport them to another planet that is set up as a nature preserve for them.

    Replies: @Known Fact, @Forbes

    That’ll be just great — they’ll enslave us men to fight other species for their jaded amusement and use our women to slake their fiendish many-tentacled lust.

    On second thought, they might beam some of the women back to Earth

  45. @128
    How to you define a foreign ownership ban to exclude dummies, say Bob has a relative in China that uses him as a dummy to buy a house by buying it in Bob's name, is there any practical way to stop this?

    Replies: @Achmed E. Newman, @Barack Obama's secret Unz account

    One way might be to pass a law disobliging the repayment of loans from foreigners.

    The “business community” might object.

  46. @Just another serf
    The cultural dysfunction and the absolutely dizzying descent into previously unimagined dystopian circumstances proceeds apace.

    I notice an increasing number of people wearing two masks. By April, three at a minimum.

    Replies: @Barack Obama's secret Unz account

    I wonder if this is related to the proliferation of monitors on the desks of office drones – shares an underlying psychological mechanism, I mean, since monitor proliferation predates COVID

  47. @Peterike
    @Jack D

    “ The thing about living in a Communist country is that you are never really sure you will get to keep what you have.”

    Yeah because one day the local Jews might team up with American Jews to buy up all the valuable assets for pennies on the dollar.

    But nah, that could never happen.

    Replies: @Jack D, @Paperback Writer

    It must be so tedious to see the world only thru the lens of anti-Semitism.

    Nice weather today, Peter.

    “Yeah, it would be if the Joos hadn’t ruined EVERYTHING.”

    • Agree: Muggles
    • Replies: @Wilkey
    @Jack D


    It must be so tedious to see the world only thru the lens of anti-Semitism.

     

    It must also be tedious to see the world only thru the lens of defending Jewish criminals only because they are Jewish.

    The scandal of Russian privatization and the vastly disproportionate number of Jews who profited from it is hardly controversial or in doubt.

    But I guess only other people, like WASPs, can be guilty of ethnocentricism and racism. Never Jews.
  48. @Peterike
    @Jack D

    “ The thing about living in a Communist country is that you are never really sure you will get to keep what you have.”

    Yeah because one day the local Jews might team up with American Jews to buy up all the valuable assets for pennies on the dollar.

    But nah, that could never happen.

    Replies: @Jack D, @Paperback Writer

    They don’t have local Jews in China.

    • Replies: @1661er
    @Paperback Writer

    https://en.wikipedia.org/wiki/Kaifeng_Jews#Early_history


    Most scholars believe that a Jewish community has existed in Kaifeng since the Northern Song Dynasty (960–1127), though some scholars date their arrival to the Tang Dynasty (618–907), or earlier.[2] Kaifeng, which was then the capital of the Northern Song Dynasty, was a cosmopolitan city on a branch of the Silk Road. It is surmised that a small community of Mizrahi Jews, who were most likely from Persia (see Persian Jews) or India (see History of the Jews in India), or Jewish refugees who probably fled the Crusades, arrived by a land or a sea route, settled in the city, and built a synagogue in 1163.
     

    Replies: @Paperback Writer

  49. @BenKenobi
    @Jack D


    Everyone is wearing face diapers
     
    I thought you were a true believer in the Holocough? Didn’t you previously say that “wearing a slip of cloth over your face is no big deal”?

    Replies: @Barack Obama's secret Unz account

    Holocough

    Bravo

  50. @Daniel H
    @Jack D

    The thing about living in a Communist country.....

    China is not a communist country. You are mouthing cuck talking points here.

    Replies: @Jack D, @Reg Cæsar, @Icy Blast

    Ok, a kleptocracy or whatever. Same difference. The point is that it is not a place with rule of law where property rights are sacrosanct.

    Now the US is getting to be more like that t00 – the people building the Keystone Pipeline had their entire investment rendered worthless the other day by a stroke [Joe – “don’t say that word”] of Joe Biden’s pen. But we’re not up to Chinese levels of political risk yet. Yet.

    • Agree: JMcG
    • Replies: @JMcG
    @Jack D

    One should be able to both agree and disagree with the same comment. Two of the biggest utilities in the country were caught bribing state officials last year, in Ohio and in Illinois. Hundreds of millions of dollars. Not a single day in jail resulted. Now, where am I supposed to park my money?

  51. @Daniel H
    @Jack D

    The thing about living in a Communist country.....

    China is not a communist country. You are mouthing cuck talking points here.

    Replies: @Jack D, @Reg Cæsar, @Icy Blast

    China is not a communist country.

    That means they– or you– are lying.

    • Agree: Redneck farmer
    • Replies: @AKAHorace
    @Reg Cæsar


    China is not a communist country.
     
    That means they– or you– are lying.

    I would say they are. There are crackdowns on genuine sincere Marxists:https://www.ft.com/content/fd087484-2f23-11e9-8744-e7016697f225

    The system seems to be a capitalist society run by ex Communists.

    Replies: @Reg Cæsar

  52. @Known Fact
    @Achmed E. Newman

    Someone posted a link to a subreddit on dead or dying malls. They're already like eerie archaeological ruins, clues to a once-thriving civilization but what happened to all the people?

    Replies: @Jack D, @JerseyJeffersonian

    Capitalism is a process of creative destruction. I’m old enough to remember when the malls came in and emptied out the downtowns of America. Now it’s the mall’s turn to meet the Grim Reaper of capitalism. One day something new will come and slay Amazon just as Sears Roebuck & Co. was slain. And so it goes.

  53. What’s going on right now – the conquest of the Western US and Western Canada by the Chinese – is what was stopped in the 1800s by the supposedly racist Chinese Exclusion Act and the White Australia Policy.

    In 1900 China’s population stood at 400 million. Australia had only 3.8 million people, and California, Oregon & Washington combined had only 2.5 million people. China had already shown that it was capable of sending a huge number of immigrants by the time those policies were adopted, which of course is why they were adopted.

    If they never had been adopted Australia and the Western US would have turned into de jure or de facto provinces of China by the early 1900s, at the very latest. Not could have but would have.

    We are now experiencing the conquest that our ancestors stopped.

    • Replies: @James N. Kennett
    @Wilkey


    We are now experiencing the conquest that our ancestors stopped.
     
    There's more than one way to colonize a country. Fighting a war to take over the government is so 19th-Century. Taking advantage of laws that permit mass immigration is much less painful for all concerned.

    The US may be too populous to be taken over by the Chinese. Australia and New Zealand obviously are not.

    Replies: @Rob McX

  54. anon[172] • Disclaimer says:
    @Stan Adams
    OT:

    I could swear that, earlier today, I saw a comment on iSteve about Godiva's decision to close all of its stores in the United States. But I haven't been able to find it.

    Has anyone compiled a list of all of the national chains that have shut down over the last year?

    One mistake Godiva made was keeping its stores closed too long, The location at my local mall did not reopen until the fall. In late September, I noted that while many stores already had their Halloween products on display, the signs in the darkened Godiva window were still advertising Easter wares.

    That same mall has lost one of its anchors (Nordstrom) and a number of smaller stores. Hollister, where the snooty popular kids bought their ridiculously-overpriced T-shirts, is gone. The embarrassingly-derivative Microsoft store ("We're Just as Kewl as Apple!") is gone. Several joints in the food court are gone. (Chick-fil-A remains, and is still very popular.) And this is at one of the most successful malls in the United States, a shopping destination that still draws sizable crowds.

    Just a little while ago I happened to pass by the site of an Italian restaurant I used to frequent. It first opened around thirty years ago but shut down during the initial COVID wave and never reopened. The building had been razed to the ground.

    A few weeks ago, New York magazine ran a cover story featuring obituaries for the local businesses that closed in 2020. It was a long and illustrious list.

    Replies: @Achmed E. Newman, @anon

    I could swear that, earlier today, I saw a comment on iSteve about Godiva’s decision to close all of its stores in the United States. But I haven’t been able to find it.

    https://www.khou.com/article/news/nation-world/godiva-to-close-or-sell-all-its-stores-in-the-united-states/507-ea23c972-b517-464a-980a-4c533a8656a0

  55. @Jack D
    @Peterike

    It must be so tedious to see the world only thru the lens of anti-Semitism.

    Nice weather today, Peter.

    "Yeah, it would be if the Joos hadn't ruined EVERYTHING."

    Replies: @Wilkey

    It must be so tedious to see the world only thru the lens of anti-Semitism.

    It must also be tedious to see the world only thru the lens of defending Jewish criminals only because they are Jewish.

    The scandal of Russian privatization and the vastly disproportionate number of Jews who profited from it is hardly controversial or in doubt.

    But I guess only other people, like WASPs, can be guilty of ethnocentricism and racism. Never Jews.

    • Agree: Bert
  56. I think me and Abe are neighbors!

    I know sweats dude!

    🙂

    Back in Elementary School in the 80s, a classmate tried to Romance me with stories of their families CPC wealth and how many American Hotels they Owned. Evidently, these playground stories were all true as evidenced by the person moving back to China and living the highlife while posting photos on Facebook for my middle-aged viewing pleasure.

  57. @128
    @education realist

    How to you filter out the dummy buyers, how reliable of tax returns?

    Replies: @Barack Obama's secret Unz account

    lol this guy sounds like a Chinese guy trying to find out what the round-eyes are going to try next

    “How to protec investment, how to escep freedom? I am dollars”

  58. I am reliably informed that Chinese overseas investors hold a lot of Australian property: the market has been slumping for the last few years, and a COVID-era scheme to revive it has been a “temporary” easing of the additional taxes foreign owners pay on houses. Naturally, this measure has been extended for another year.

  59. …a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. The house if maintained and updated is worth $3/4 of a million, but the lawn out front is dead AND YET I see the 1000 year old man out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! It’s as if he was planted in this house to oversee it by its rich overseas owner yet not given enough pocket change (or vehicular mobility) to buy a stupid lawn hose and spray nozzle at Walmart! My best guess is therefore he is some poor country cousin relation of the real owner, likely an overseas CPC muckety-muck with significant business holdings expatriating his wealth to America, then through a network of loose family and client-patron connections installing cheap caretakers at each of his properties to maintain them until such time as it is optimal to sell or rent them out.

    Some people would say that this behaviour is idiotic, and typical of the low-IQ uncivilised Chinese.

    But you’d be a fool to believe them: everyone knows the Chinese are geniuses, and masters of strategy, and have “high-time preference”. Trying to water a lawn in this fashion is probably a patient and cunning Chinese trick, far more profitable in the long run that either expending no effort and letting the lawn die, or spending twenty bucks on a hose.

    • Replies: @Buzz Mohawk
    @Barack Obama's secret Unz account

    Yeah, the Chinese are pretty smart. The problem is, their methods don't always translate well here. You need a billion old men with a billion used milk jugs.

    Replies: @Barack Obama's secret Unz account

  60. @Dave
    Joke's on the Chinese. Their American real estate portfolios, passports, college degrees, and voter registrations will soon be worth a lot less than they paid for them, because the USA is turning into another Haiti.

    Replies: @Jack D, @AnotherDad

    Joke’s on the Chinese. Their American real estate portfolios, passports, college degrees, and voter registrations will soon be worth a lot less than they paid for them, because the USA is turning into another Haiti.

    Ultimately–if the “nation of immigrants” fraudeology continues–we will be the shittiest nation on earth. (People from shittier nations will come and come and come until we are the shittiest.)

    But that will not happen for quite some time. With even a half-white population–and, of course various amenities built up by prior white generations–we will be a nicer, more prosperous place than most places on the planet.

    And the deal is real estate prices aren’t just about how “nice” someplace is, but about how many people need housing relative to the supply. Seattle is way, way less nice than it was a generation back … but way, way, way more expensive. Los Angeles, San Francisco … actually pretty much all big coast metros in the US. China and India have expensive housing.

    The US had cheap housing when it was the best place on earth to live. Now we’re headed toward Asiatic housing affordability. Thank–as with everything else–the minoritarians, the “nation of immigrants” people.

  61. @128
    @Jack D

    I am sure some working stiff from the middle of Kano, Nigeria would know what a garden hose is.

    Replies: @Jack D

    Are you sure about that?

  62. @Reg Cæsar
    @Daniel H


    China is not a communist country.
     
    That means they-- or you-- are lying.


    https://www.odi.org/sites/odi.org.uk/files/paragraph-images/8165951836_e653d53977_o_1.jpg

    Replies: @AKAHorace

    China is not a communist country.

    That means they– or you– are lying.

    I would say they are. There are crackdowns on genuine sincere Marxists:https://www.ft.com/content/fd087484-2f23-11e9-8744-e7016697f225

    The system seems to be a capitalist society run by ex Communists.

    • Replies: @Reg Cæsar
    @AKAHorace


    The system seems to be a capitalist society run by ex Communists.

     

    "I've got mine, Jack."
  63. Six years ago in SoCal had a nearly final offer trounced overnight by an additional 10,000, all cash now, waive inspection. My RE agent said: Hot Chinese money all over town.

  64. @Barack Obama's secret Unz account

    ...a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. The house if maintained and updated is worth $3/4 of a million, but the lawn out front is dead AND YET I see the 1000 year old man out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! It’s as if he was planted in this house to oversee it by its rich overseas owner yet not given enough pocket change (or vehicular mobility) to buy a stupid lawn hose and spray nozzle at Walmart! My best guess is therefore he is some poor country cousin relation of the real owner, likely an overseas CPC muckety-muck with significant business holdings expatriating his wealth to America, then through a network of loose family and client-patron connections installing cheap caretakers at each of his properties to maintain them until such time as it is optimal to sell or rent them out.
     
    Some people would say that this behaviour is idiotic, and typical of the low-IQ uncivilised Chinese.

    But you'd be a fool to believe them: everyone knows the Chinese are geniuses, and masters of strategy, and have "high-time preference". Trying to water a lawn in this fashion is probably a patient and cunning Chinese trick, far more profitable in the long run that either expending no effort and letting the lawn die, or spending twenty bucks on a hose.

    Replies: @Buzz Mohawk

    Yeah, the Chinese are pretty smart. The problem is, their methods don’t always translate well here. You need a billion old men with a billion used milk jugs.

    • Replies: @Barack Obama's secret Unz account
    @Buzz Mohawk

    "Power comes from a billion retarded peasants" - General Chao

  65. Anonymous[355] • Disclaimer says:

    As much as economists try to bullshit their way out of it, it is a simple arithmetical truism that a nation running up a huge trade deficit with another nation simply *must* succumb to a huge and ongoing purchase of its assets by the creditor nation, simply to ‘balance the books’.

    • Replies: @Barack Obama's secret Unz account
    @Anonymous

    But why must it? I never understood that part. What makes it a law of nature?

    Replies: @Anonymous, @International Jew

    , @International Jew
    @Anonymous

    Economists don't try to "bullshit their way out". In fact that's exactly what they teach.

    Replies: @Anonymous

  66. @AKAHorace
    https://www.youtube.com/watch?v=IZs2i3Bpxx4

    Replies: @Bill B.

    This is what the “conservative” British Tories have just opened up for the UK – without asking anyone what they think of potentially adding five percent of smarter, richer, much more clan aware members to the population with deep links into the great, rival civilizational state.

    • Replies: @martin_2
    @Bill B.

    I was up until a few years ago involved with estate agents in property letting and the Chinese are already buying up properties in the UK and renting them out to British people, thus driving up prices.
    The Chinese don't live here, the rent money goes overseas. Its a betrayal, and there is no way a Westerner could do the same thing in China. The Chinese have more sense and self respect.

    As for letting the Chinese from Hong Kong in. I would have thought the liberal establishment crowd would be against it as the Chinese kids will be a hell of a lot smarter than their kids, and will compete with them for places in good universities etcetera.

    Replies: @epebble, @photondancer, @Gabe Ruth

  67. Han mafia should be watched closely. Why?

    Why not?

    https://en.wikipedia.org/wiki/Thai_Chinese
    ……………………
    Thai Chinese are the largest minority group in the country and the largest overseas Chinese community in the world with a population of approximately 10 million people, accounting for 11–14% of the total population of the country as of 2012.
    ………………………………………………………………………..
    Ninety percent of all investments in the industry and commercial sector and at least 50 percent of all investments in the banking and finance sectors is controlled by ethnic Chinese.
    Economic advantages would also persist as Thai Chinese controlled 80–90 percent of the rice mills, the largest enterprises in the nation.

    Thailand’s lack of an indigenous Thai commercial culture in the private sector is dominated entirely by Thai Chinese themselves. Of the 25 leading entrepreneurs in the Thai business sector, 23 are ethnic Chinese or of partial Chinese descent. Thai Chinese also comprise 96 percent of Thailand’s 70 most powerful business groups.

    Family firms are extremely common in the Thai business sector as they are passed down from one generation to the next. Ninety percent of Thailand’s manufacturing sector and 50 percent of Thailand’s service sector is controlled by ethnic Chinese. According to a Financial Statistics of the 500 Largest Public Companies in Asia Controlled by Overseas Chinese in 1994 chart released by Singaporean geographer Dr. Henry Yeung of the National University of Singapore, 39 companies were concentrated in Thailand with a market capitalization of US$35 billion and total assets of US$94 billion. In Thailand, ethnic Chinese control the nation’s largest private banks: Bangkok Bank, Thai Farmers Bank, Bank of Ayudhya.

    Thai Chinese businesses are part of the larger bamboo network, a network of Overseas Chinese businesses operating in the markets of Southeast Asia that share common family, ethnic, language, and cultural ties. Following the 1997 Asian financial crisis, structural reforms imposed by the International Monetary Fund (IMF) on Indonesia and Thailand led to the loss of many monopolistic positions long held by the ethnic Chinese business elite. Despite the financial and economic crisis, Thai Chinese are estimated to own 65 percent of the total banking assets, 60 percent of the national trade, 90 percent of all local investments in the commercial sector, 90 percent of all local investments in the manufacturing sector, and 50 percent of all local investments in the banking and financial services sector.

    • Replies: @Guest29048
    @Bardon Kaldian

    Reminds me of the intro to Tiger Mom's book (Amy Chua, World on Fire: How Exporting Free Market Democracy Breeds Ethnic Hatred and Global Insecurity, 2003).

    https://www.wilsonquarterly.com/quarterly/winter-2014-four-decades-of-classic-essays/a-world-on-the-edge/

    One beautiful blue morning in September 1994, I received a call from my mother in California. . . .

    In a hushed voice, she told me that my Aunt Leona, my father’s twin sister, had been murdered in her home in the Philippines, her throat slit by her chauffeur. . . .

    According to the police report, my Aunt Leona, “a 58-year-old single woman,” was killed in her living room with “a butcher’s knife” at approximately 8 p.m. on September 12, 1994. Two of her maids were questioned, and they confessed that Nilo Abique, my aunt’s chauffeur, had planned and executed the murder with their knowledge andassistance. . . .

    After the funeral, I asked one of my uncles whether there had been any further developments in the murder investigation. He replied tersely that the killer had not been found. His wife explained that the Manila police had essentially closed the case.

    I could not understand my relatives’ almost indifferent attitude. Why were they not more shocked that my aunt had been killed in cold blood, by people who worked for her, lived with her, saw her every day? Why were they not outraged that the maids had been released? When I pressed my uncle, he was short with me. “That’s the way things are here,” he said. “This is the Philippines — not America.” . . .

    My uncle was not simply being callous. As it turns out, my aunt’s death was part of a common pattern. Hundreds of Chinese in the Philippines are kidnapped every year, almost invariably by ethnic Filipinos. . . . Nor is it unusual that my aunt’s killer was never apprehended. The police in the Philippines, all poor ethnic Filipinos themselves, are notoriously unmotivated in these cases. . . .

    My family is part of the Philippines’ tiny but entrepreneurial and economically powerful Chinese minority. Although they constitute just one percent of the population, Chinese Filipinos control as much as 60 percent of the private economy, including the country’s four major airlines and almost all of the country’s banks, hotels, shopping malls, and big conglomerates. . . .

    But over time I have also had glimpses of how the vast majority of Filipinos, especially someone like Abique, must see the Chinese: as exploiters, foreign intruders, their wealth inexplicable, their superiority intolerable. I will never forget the entry in the police report for Abique’s “motive for murder.” The motive given was not robbery, despite the jewels and money the chauffeur was said to have taken. Instead, for motive, there was just one word — “revenge.”

  68. Ive noticed this manifest in different ways with different ethnicities. Greeks, Lebanese, and Nigerians love starting restaurants here in Houston, oddly most are all but empty. Indians…motels… same. Arabs and Pakistanis… retail strip centers and convenience stores. Chinese… laundry.

    None of the above could be independently profitable… I do my laundry with the local wash’n’fold even though my alternative is free! But for $20/month, why not?

    All of this seems to be people taking dirty money that isn’t safe turning it into safe clean money.

    Never figured out what the narcotrafficantes do with their money.

    • Replies: @Jack D
    @Fubar


    None of the above could be independently profitable
     
    You are wrong about this. Yes, if these businesses hired non-family members and paid them all legally required wages and benefits and put up with the "shrinkage" that results from employee theft and complied with OSHA and all of the environmental laws and paid all of the taxes on their cash receipts and so on there's no way for such businesses to be profitable. But if you and your family are the unpaid workforce and you cut as many corners as possible, you can eke out a living from such places, if you call working 18 hours/day living. For these families, the chance for their kids to go to a top university and become a proctologist makes it all worth it.
    , @education realist
    @Fubar

    Yeah, there are a lot of all-chinese strip malls that are cash only. They're just one big money laundering project.

  69. There is a _lot_ of this in Australia. Public resentment grew so strong that eventually the government banned direct purchase of residential property by Chinese nationals resident in China. However, there are so many Chinese people here already that they simply act as representatives for the relatives back home so there’s no real difference. I’ve also seen newly built apartment blocks that were not available for sale to Australians until the Chinese had bought their fill.

    • Replies: @JMcG
    @photondancer

    I have a friend who recently bought a house in a newly constructed 54 unit subdivision. Unbeknownst to him, at the time he put down his deposit, he was the only non-Indian purchaser. He’s not feeling very welcome there, in the town in which he grew up, and is looking to sell after just a few months. He’s only getting low ball offers from other Indians who know the position he’s in. Lots of fun to be had lately.

  70. @Buzz Mohawk
    @Barack Obama's secret Unz account

    Yeah, the Chinese are pretty smart. The problem is, their methods don't always translate well here. You need a billion old men with a billion used milk jugs.

    Replies: @Barack Obama's secret Unz account

    “Power comes from a billion retarded peasants” – General Chao

  71. @Anonymous
    As much as economists try to bullshit their way out of it, it is a simple arithmetical truism that a nation running up a huge trade deficit with another nation simply *must* succumb to a huge and ongoing purchase of its assets by the creditor nation, simply to 'balance the books'.

    Replies: @Barack Obama's secret Unz account, @International Jew

    But why must it? I never understood that part. What makes it a law of nature?

    • Replies: @Anonymous
    @Barack Obama's secret Unz account

    Simply because of the Universal Law of Conservation, that applies to financial transactions as much as it does to matter and energy.

    Simply put, all transnational financial transactions involve the fact of an equal and opposite payment, that is the American importer of Chinese goods must pay in Yuan the cost of the goods imported, since Chinese wages, utilities etc etc must be paid in domestic currency. In order to do this, the importer must, on the currency exchanges, buy Yuan in exchange for dollars. If imports and exports between China and the USA perfectly balanced, then this phenomenon would be viable by exchange by traders alone.
    As it happens, there is a greater demand for Yuan by American traders than is supplied by by Chinese selling goods to America. This shortfall, of course, must be realised as a physical actuality in order for trade to continue - workers need pay etc etc - thus, it can only come from one source if it is not coming from trade. Somewhere 'in the system' the American owners of dollar denominated assets are selling these assets to Chinese buyers who are putting Yuan into the trading floor by these transactions.

    Basically, it's simple double entry book keeping, or in other words, cash and assets cannot be conjured up ex nihilo, at least as far as commercial contracts/transactions are concerned.

    Replies: @Barack Obama's secret Unz account

    , @International Jew
    @Barack Obama's secret Unz account

    I can explain it to you in way fewer words than Anonymous: people won't give you stuff for free. If you aren't paying with goods, you need to make up the difference some other way.

    Counterfeiting your trading partner's currency might work though!

    Replies: @Barack Obama's secret Unz account

  72. @Wilkey
    What's going on right now - the conquest of the Western US and Western Canada by the Chinese - is what was stopped in the 1800s by the supposedly racist Chinese Exclusion Act and the White Australia Policy.

    In 1900 China's population stood at 400 million. Australia had only 3.8 million people, and California, Oregon & Washington combined had only 2.5 million people. China had already shown that it was capable of sending a huge number of immigrants by the time those policies were adopted, which of course is why they were adopted.

    If they never had been adopted Australia and the Western US would have turned into de jure or de facto provinces of China by the early 1900s, at the very latest. Not could have but would have.

    We are now experiencing the conquest that our ancestors stopped.

    Replies: @James N. Kennett

    We are now experiencing the conquest that our ancestors stopped.

    There’s more than one way to colonize a country. Fighting a war to take over the government is so 19th-Century. Taking advantage of laws that permit mass immigration is much less painful for all concerned.

    The US may be too populous to be taken over by the Chinese. Australia and New Zealand obviously are not.

    • Replies: @Rob McX
    @James N. Kennett


    There’s more than one way to colonize a country. Fighting a war to take over the government is so 19th-Century. Taking advantage of laws that permit mass immigration is much less painful for all concerned.
     
    It's amazing how easy it has been to conceal this fact from the people who should be most concerned by it. White people talk of colonialism as something that's only of historical significance, while their own countries are being colonised under their noses.
  73. @Achmed E. Newman
    @128

    No. There isn't. The Chinese play by the Golden Rule, at least most non-Christian society's interpretation: He who hath the gold, maketh the rules.

    Replies: @Johann Ricke, @nobodyofnowhere

    Doesn’t seem to have worked out that way for Jack Ma.

    • Replies: @Achmed E. Newman
    @nobodyofnowhere

    Jack Ma didn't realize that he worked for the CCP. The gold was never his. That's why we are all playing that game, "Where in the World is Carmen San Diego Jack Ma?

    Replies: @Jim Christian

  74. @Daniel H
    @Jack D

    The thing about living in a Communist country.....

    China is not a communist country. You are mouthing cuck talking points here.

    Replies: @Jack D, @Reg Cæsar, @Icy Blast

    Actual communism has never been tried, right? You are so totally smart and cool and stuff! The CIA can’t fool you, right?

  75. @nobodyofnowhere
    @Achmed E. Newman

    Doesn't seem to have worked out that way for Jack Ma.

    Replies: @Achmed E. Newman

    Jack Ma didn’t realize that he worked for the CCP. The gold was never his. That’s why we are all playing that game, “Where in the World is Carmen San Diego Jack Ma?

    • Replies: @Jim Christian
    @Achmed E. Newman


    Jack Ma didn’t realize that he worked for the CCP.
     
    Funny you mention him, Acchie. I saw a fairly cogent article in one mag or another-and this is strictly anecdotal- while he was missing positing that they did away with Ma and cloned a new-and-improved version. Apparently the Chins can clone? Who knew? Dunno how they aged him, but weird, spooky article when viewed in light of the labs, Fauci, all that. When I search it out now it goes to a bunch of theorists with some nutty proposals on the subject of Ma.

    Ma is a strange looking dood anyway. Maybe a clone gone bad from the start and a manufactured CEO? Wouldn't that be hilarious?
  76. @Thomas
    Q: What do white Americans and pandas have in common?

    A: Both are fat, lazy, owned by the Chinese, and won't breed to save their race.

    Replies: @128, @Anonymous

    “Eats Shoots and Leaves”.

  77. Anonymous[212] • Disclaimer says:
    @Jack D
    @Dave

    Even if they decline in value they will probably have at least SOME value. They are not looking for return on investment. They are trying to park their money in a relatively safe place.

    The thing about living in a Communist country is that you are never really sure you will get to keep what you have. One day the government could declare a "currency reform" and declare all your money worthless. Or you could get into some kind of political trouble and the government could arrest you and seize your business. It might never happen or it could happen tomorrow. You can never be quite sure. If you can get at least SOME of your wealth out of the country and maybe one of your kids then at least you know that even if it all goes bad in China (again - wouldn't be the 1st time) it hasn't all been for nought.

    Replies: @Achmed E. Newman, @Peterike, @Daniel H, @Anonymous

    Well, the neo-liberal and extremely economically free market and right wing ‘New Labour’ government in the UK had the jolly wheeze of confiscating the bulk of accumulated wealth, including housing, by the simple expedient of claiming it as state property post mortem of the principal.

    Unsurprisingly, New Labour were ejected from political office.

  78. Absentee ownership of vacant houses is not just a mainland Chinese thing. Taiwanese do this as well, presumably for a more pressing reason.

  79. Anonymous[212] • Disclaimer says:
    @Barack Obama's secret Unz account
    @Anonymous

    But why must it? I never understood that part. What makes it a law of nature?

    Replies: @Anonymous, @International Jew

    Simply because of the Universal Law of Conservation, that applies to financial transactions as much as it does to matter and energy.

    Simply put, all transnational financial transactions involve the fact of an equal and opposite payment, that is the American importer of Chinese goods must pay in Yuan the cost of the goods imported, since Chinese wages, utilities etc etc must be paid in domestic currency. In order to do this, the importer must, on the currency exchanges, buy Yuan in exchange for dollars. If imports and exports between China and the USA perfectly balanced, then this phenomenon would be viable by exchange by traders alone.
    As it happens, there is a greater demand for Yuan by American traders than is supplied by by Chinese selling goods to America. This shortfall, of course, must be realised as a physical actuality in order for trade to continue – workers need pay etc etc – thus, it can only come from one source if it is not coming from trade. Somewhere ‘in the system’ the American owners of dollar denominated assets are selling these assets to Chinese buyers who are putting Yuan into the trading floor by these transactions.

    Basically, it’s simple double entry book keeping, or in other words, cash and assets cannot be conjured up ex nihilo, at least as far as commercial contracts/transactions are concerned.

    • Replies: @Barack Obama's secret Unz account
    @Anonymous

    See my other comment.

    One thing in your comment additionally troubles me:


    As it happens, there is a greater demand for Yuan by American traders than is supplied by by Chinese selling goods to America.
     
    If the issue is an American trade deficit with China, then why is American demand for Chinese currency greater than that needed to pay for Chinese imports? The only way I can see that is if Americans were buying up Chinese assets, but then wouldn't that be offsetting their current account deficit and easing the difficulty?

    Replies: @Anonymous

  80. @Achmed E. Newman
    @nobodyofnowhere

    Jack Ma didn't realize that he worked for the CCP. The gold was never his. That's why we are all playing that game, "Where in the World is Carmen San Diego Jack Ma?

    Replies: @Jim Christian

    Jack Ma didn’t realize that he worked for the CCP.

    Funny you mention him, Acchie. I saw a fairly cogent article in one mag or another-and this is strictly anecdotal- while he was missing positing that they did away with Ma and cloned a new-and-improved version. Apparently the Chins can clone? Who knew? Dunno how they aged him, but weird, spooky article when viewed in light of the labs, Fauci, all that. When I search it out now it goes to a bunch of theorists with some nutty proposals on the subject of Ma.

    Ma is a strange looking dood anyway. Maybe a clone gone bad from the start and a manufactured CEO? Wouldn’t that be hilarious?

  81. @Bill B.
    @AKAHorace

    This is what the "conservative" British Tories have just opened up for the UK - without asking anyone what they think of potentially adding five percent of smarter, richer, much more clan aware members to the population with deep links into the great, rival civilizational state.

    Replies: @martin_2

    I was up until a few years ago involved with estate agents in property letting and the Chinese are already buying up properties in the UK and renting them out to British people, thus driving up prices.
    The Chinese don’t live here, the rent money goes overseas. Its a betrayal, and there is no way a Westerner could do the same thing in China. The Chinese have more sense and self respect.

    As for letting the Chinese from Hong Kong in. I would have thought the liberal establishment crowd would be against it as the Chinese kids will be a hell of a lot smarter than their kids, and will compete with them for places in good universities etcetera.

    • Replies: @epebble
    @martin_2

    Its a betrayal, and there is no way a Westerner could do the same thing in China.

    Take a look at your 401(k) portfolio. If it mentions REITs (Real Estate Investment Trusts), that is what they are doing.

    Many of the absentee landlords people are complaining here are REITs owned by many Hedge funds.

    Steve Mnuchin, recent Secretary of the Treasury, became rich by doing that.

    https://en.wikipedia.org/wiki/Steven_Mnuchin#Purchase_of_IndyMac_and_other_loan_portfolios

    , @photondancer
    @martin_2

    We have ample evidence of how short-sighted virtue signallers tend to be. I'm more intrigued by why the Tories want to let all these people in. Are they really so confident that they can maintain their societal position in the face of an influx of thousands, maybe millions, of very wealthy people who, despite their political differences, still have a basically Chinese point of view on life?

    , @Gabe Ruth
    @martin_2

    That gets at another long time Sailer theme, they way avoiding crimethink degrades your ability to conceptualize obvious problems. Your average NPC can see there's something important wrong with your scenario, but to describe it increasingly would sound nativist, if not something even more sinister.

  82. @John Milton’s Ghost
    I assume Abe is in California? I was talking to a Pasadena local, a low level figure in the entertainment industry and predictably liberal leaning, who said with some disgust that “all of San Marino” (the even wealthier enclave south of Pasadena) is now owned by absentee Chinese nationals.

    While the major political figures in both parties want to invite the world, I suspect that vast majorities of American citizens would like to see a slowdown of all immigration, including the wealthy and skilled elites.

    Replies: @Neuday, @Alfa158, @Anonymous

    I assume Abe is in California? I was talking to a Pasadena local, a low level figure in the entertainment industry and predictably liberal leaning, who said with some disgust that “all of San Marino” (the even wealthier enclave south of Pasadena) is now owned by absentee Chinese nationals.

    Having all the working class and middle-class neighborhoods throughout California turn Mexican over the past few decades has been a good thing but when the tony part of Pasadena turns Chinese it’s disgusting? Most people would much rather live next to absentee Chinese than 3 families of Guatemalans, and the schools and social services are impacted less, as well.

  83. @John Milton’s Ghost
    I assume Abe is in California? I was talking to a Pasadena local, a low level figure in the entertainment industry and predictably liberal leaning, who said with some disgust that “all of San Marino” (the even wealthier enclave south of Pasadena) is now owned by absentee Chinese nationals.

    While the major political figures in both parties want to invite the world, I suspect that vast majorities of American citizens would like to see a slowdown of all immigration, including the wealthy and skilled elites.

    Replies: @Neuday, @Alfa158, @Anonymous

    I used to work in the San Marino area. Chinese students from San Marino High would drive to the fast food places at lunchtime in BMWs and Porsches. One time I was having lunch at a hamburger joint and the kids at the table next to me ordered just water with their meal, then filled the cups with soda. The Mexican proprietor came over and silently took away their sodas. Apparently it was a common practice and he would watch for it. The Little Princes thought it was hilarious.

    • Replies: @Jack D
    @Alfa158

    I think what the students did is fair enough, given that the paying customers were (1) being turned into the restaurant's unpaid workforce by having to fill their own soda cups and (2) being charged $2 for ten cents worth of sweetened fizzy water. For $2 they couldn't be bothered to fill your soda cup for you? Do you have to go in the back and work the grill for your hamburger too? Fast food chains know that there's a certain amount of cheating that goes on with self service soda but having an employee fill the cups costs them upwards of $10/hr and the hourly loss from cheating is pennies so it still pays.

    I don't drink soda but I happen to like carbonated water better than still water. Sometimes on self service soda machines, there's one lever for plain water and a different lever for carbonated water. If I ask for a water cup and push the carbonated water lever, am I cheating? There's probably a penny's worth of CO2 that gets added.

  84. @Jack D

    For example, a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. ...out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! ....My best guess is therefore he is some poor country cousin relation of the real owner,

     

    Maybe and maybe he IS the real owner. One of the ways you get to own a $750,000 house is by NOT spending money on "unnecessary" things like nice clothes and garden hoses.

    For a Chinese man of his generation, having plumbing in the house is ALREADY an unimaginable luxury, forget about the garden hose. He might even be unfamiliar with the concept of garden hoses and if you tried to explain it to him he might not "get it" at all. I have running water in my house already - why do I need this hose thing when I have a perfectly good milk jug that I can use to water my plants? It would save time? I not too busy.

    Replies: @128, @Neuday, @1661er

    I’m reminded of when the Hmong started colonizing California in the 1980’s; rumor had it they thought kitchen cabinets were nesting boxes for chickens.

  85. @Jack D
    @Daniel H

    Ok, a kleptocracy or whatever. Same difference. The point is that it is not a place with rule of law where property rights are sacrosanct.

    Now the US is getting to be more like that t00 - the people building the Keystone Pipeline had their entire investment rendered worthless the other day by a stroke [Joe - "don't say that word"] of Joe Biden's pen. But we're not up to Chinese levels of political risk yet. Yet.

    Replies: @JMcG

    One should be able to both agree and disagree with the same comment. Two of the biggest utilities in the country were caught bribing state officials last year, in Ohio and in Illinois. Hundreds of millions of dollars. Not a single day in jail resulted. Now, where am I supposed to park my money?

  86. @Jack D
    @Achmed E. Newman

    There was a German movie made a while ago called "Goodbye Lenin!" - the premise of the movie is that a mother who is a loyal Communist falls into a coma in E. Germany in October 1989 and when she awakens 8 months later the Berlin Wall has fallen and Communism is over but her kids are afraid that if they tell her the shock will kill her. So they try to conceal it from her. They repackage new Western food in old East German jars and keep dressing in E. German style clothes. The deception grows increasingly complicated as the mom witnesses strange occurrences, such as a gigantic Coca-Cola banner on an adjacent building. The kids create fake news broadcasts from old East German news tapes to explain these odd events - for example that East Germany is now accepting refugees from the West following an economic crisis there.

    Anyway, someone should do a 2020 remake involving Covid - mom is a loyal Fox News watcher who wakes up after a coma. Everyone is wearing face diapers. Joe Biden is President. There are all these strange BLM signs and all her favorite restaurants are out of business. Somehow her kids have to invent fake news broadcasts to explain this all.

    Replies: @BenKenobi, @Achmed E. Newman, @Neuday

    You could make a similar movie called “Goodbye, Reagan”, where Republican strategist and consultant Lee Atwater falls into a coma just before Reagan got tricked into signing the Immigration Amnesty act and then wakes up in Simi Valley in 2007. The rest of the GOP hides all the signs of immigration from Lee, who continues to convince Republicans that the path to electoral victory lies in tax cuts, Enterprise Zones in the inner cities, and bipartisanship to avoid being called “racist” or “judgemental”. One day he sees a billboard for Jarritos, but the shock is soothed after being told it goes well with Taco Bell and a lot of Natural Conservatives like to drink it.

  87. @Alfa158
    @John Milton’s Ghost

    I used to work in the San Marino area. Chinese students from San Marino High would drive to the fast food places at lunchtime in BMWs and Porsches. One time I was having lunch at a hamburger joint and the kids at the table next to me ordered just water with their meal, then filled the cups with soda. The Mexican proprietor came over and silently took away their sodas. Apparently it was a common practice and he would watch for it. The Little Princes thought it was hilarious.

    Replies: @Jack D

    I think what the students did is fair enough, given that the paying customers were (1) being turned into the restaurant’s unpaid workforce by having to fill their own soda cups and (2) being charged $2 for ten cents worth of sweetened fizzy water. For $2 they couldn’t be bothered to fill your soda cup for you? Do you have to go in the back and work the grill for your hamburger too? Fast food chains know that there’s a certain amount of cheating that goes on with self service soda but having an employee fill the cups costs them upwards of $10/hr and the hourly loss from cheating is pennies so it still pays.

    I don’t drink soda but I happen to like carbonated water better than still water. Sometimes on self service soda machines, there’s one lever for plain water and a different lever for carbonated water. If I ask for a water cup and push the carbonated water lever, am I cheating? There’s probably a penny’s worth of CO2 that gets added.

    • LOL: Gabe Ruth
  88. @photondancer
    There is a _lot_ of this in Australia. Public resentment grew so strong that eventually the government banned direct purchase of residential property by Chinese nationals resident in China. However, there are so many Chinese people here already that they simply act as representatives for the relatives back home so there's no real difference. I've also seen newly built apartment blocks that were not available for sale to Australians until the Chinese had bought their fill.

    Replies: @JMcG

    I have a friend who recently bought a house in a newly constructed 54 unit subdivision. Unbeknownst to him, at the time he put down his deposit, he was the only non-Indian purchaser. He’s not feeling very welcome there, in the town in which he grew up, and is looking to sell after just a few months. He’s only getting low ball offers from other Indians who know the position he’s in. Lots of fun to be had lately.

  89. @Fubar
    Ive noticed this manifest in different ways with different ethnicities. Greeks, Lebanese, and Nigerians love starting restaurants here in Houston, oddly most are all but empty. Indians...motels... same. Arabs and Pakistanis... retail strip centers and convenience stores. Chinese... laundry.

    None of the above could be independently profitable... I do my laundry with the local wash'n'fold even though my alternative is free! But for $20/month, why not?

    All of this seems to be people taking dirty money that isn't safe turning it into safe clean money.

    Never figured out what the narcotrafficantes do with their money.

    Replies: @Jack D, @education realist

    None of the above could be independently profitable

    You are wrong about this. Yes, if these businesses hired non-family members and paid them all legally required wages and benefits and put up with the “shrinkage” that results from employee theft and complied with OSHA and all of the environmental laws and paid all of the taxes on their cash receipts and so on there’s no way for such businesses to be profitable. But if you and your family are the unpaid workforce and you cut as many corners as possible, you can eke out a living from such places, if you call working 18 hours/day living. For these families, the chance for their kids to go to a top university and become a proctologist makes it all worth it.

  90. @Bardon Kaldian
    Han mafia should be watched closely. Why?

    Why not?

    https://en.wikipedia.org/wiki/Thai_Chinese
    ........................
    Thai Chinese are the largest minority group in the country and the largest overseas Chinese community in the world with a population of approximately 10 million people, accounting for 11–14% of the total population of the country as of 2012.
    ...................................................................................
    Ninety percent of all investments in the industry and commercial sector and at least 50 percent of all investments in the banking and finance sectors is controlled by ethnic Chinese.
    Economic advantages would also persist as Thai Chinese controlled 80–90 percent of the rice mills, the largest enterprises in the nation.

    Thailand's lack of an indigenous Thai commercial culture in the private sector is dominated entirely by Thai Chinese themselves. Of the 25 leading entrepreneurs in the Thai business sector, 23 are ethnic Chinese or of partial Chinese descent. Thai Chinese also comprise 96 percent of Thailand's 70 most powerful business groups.

    Family firms are extremely common in the Thai business sector as they are passed down from one generation to the next. Ninety percent of Thailand's manufacturing sector and 50 percent of Thailand's service sector is controlled by ethnic Chinese. According to a Financial Statistics of the 500 Largest Public Companies in Asia Controlled by Overseas Chinese in 1994 chart released by Singaporean geographer Dr. Henry Yeung of the National University of Singapore, 39 companies were concentrated in Thailand with a market capitalization of US$35 billion and total assets of US$94 billion. In Thailand, ethnic Chinese control the nation's largest private banks: Bangkok Bank, Thai Farmers Bank, Bank of Ayudhya.

    Thai Chinese businesses are part of the larger bamboo network, a network of Overseas Chinese businesses operating in the markets of Southeast Asia that share common family, ethnic, language, and cultural ties. Following the 1997 Asian financial crisis, structural reforms imposed by the International Monetary Fund (IMF) on Indonesia and Thailand led to the loss of many monopolistic positions long held by the ethnic Chinese business elite. Despite the financial and economic crisis, Thai Chinese are estimated to own 65 percent of the total banking assets, 60 percent of the national trade, 90 percent of all local investments in the commercial sector, 90 percent of all local investments in the manufacturing sector, and 50 percent of all local investments in the banking and financial services sector.

    Replies: @Guest29048

    Reminds me of the intro to Tiger Mom’s book (Amy Chua, World on Fire: How Exporting Free Market Democracy Breeds Ethnic Hatred and Global Insecurity, 2003).

    https://www.wilsonquarterly.com/quarterly/winter-2014-four-decades-of-classic-essays/a-world-on-the-edge/

    One beautiful blue morning in September 1994, I received a call from my mother in California. . . .

    In a hushed voice, she told me that my Aunt Leona, my father’s twin sister, had been murdered in her home in the Philippines, her throat slit by her chauffeur. . . .

    According to the police report, my Aunt Leona, “a 58-year-old single woman,” was killed in her living room with “a butcher’s knife” at approximately 8 p.m. on September 12, 1994. Two of her maids were questioned, and they confessed that Nilo Abique, my aunt’s chauffeur, had planned and executed the murder with their knowledge andassistance. . . .

    After the funeral, I asked one of my uncles whether there had been any further developments in the murder investigation. He replied tersely that the killer had not been found. His wife explained that the Manila police had essentially closed the case.

    I could not understand my relatives’ almost indifferent attitude. Why were they not more shocked that my aunt had been killed in cold blood, by people who worked for her, lived with her, saw her every day? Why were they not outraged that the maids had been released? When I pressed my uncle, he was short with me. “That’s the way things are here,” he said. “This is the Philippines — not America.” . . .

    My uncle was not simply being callous. As it turns out, my aunt’s death was part of a common pattern. Hundreds of Chinese in the Philippines are kidnapped every year, almost invariably by ethnic Filipinos. . . . Nor is it unusual that my aunt’s killer was never apprehended. The police in the Philippines, all poor ethnic Filipinos themselves, are notoriously unmotivated in these cases. . . .

    My family is part of the Philippines’ tiny but entrepreneurial and economically powerful Chinese minority. Although they constitute just one percent of the population, Chinese Filipinos control as much as 60 percent of the private economy, including the country’s four major airlines and almost all of the country’s banks, hotels, shopping malls, and big conglomerates. . . .

    But over time I have also had glimpses of how the vast majority of Filipinos, especially someone like Abique, must see the Chinese: as exploiters, foreign intruders, their wealth inexplicable, their superiority intolerable. I will never forget the entry in the police report for Abique’s “motive for murder.” The motive given was not robbery, despite the jewels and money the chauffeur was said to have taken. Instead, for motive, there was just one word — “revenge.”

    • Thanks: Rob McX
  91. @James N. Kennett
    @Wilkey


    We are now experiencing the conquest that our ancestors stopped.
     
    There's more than one way to colonize a country. Fighting a war to take over the government is so 19th-Century. Taking advantage of laws that permit mass immigration is much less painful for all concerned.

    The US may be too populous to be taken over by the Chinese. Australia and New Zealand obviously are not.

    Replies: @Rob McX

    There’s more than one way to colonize a country. Fighting a war to take over the government is so 19th-Century. Taking advantage of laws that permit mass immigration is much less painful for all concerned.

    It’s amazing how easy it has been to conceal this fact from the people who should be most concerned by it. White people talk of colonialism as something that’s only of historical significance, while their own countries are being colonised under their noses.

    • Agree: Craig Nelsen
  92. Also, interesting comment thread on the video.

  93. Some here may remember in the 70s-80s the big hue & cry was over the “rich Japanese” buying up US farmland. And real estate, etc.

    Well, that came and went Real estate is always being bought and sold. No one worries about the Japanese now.

    One thing about this is that regardless of where the owners live, they can’t take real estate with them back home. Houses are money pits (like all developed RE) unless you pay to keep it up or do that and rent/use it.

    People in scenic but previously dirt poor places (like the French Riviera before about 1955) always moan about newcomers with money moving in and buying up things. Drives prices up for locals and usually also property taxes. Even today Wokesters are unhappy about ‘gentrification’ of slums by others, often young and/or gay. See, poor people are just so, well, wonderful. Everyone wants to live there!

    The truth is that destructive people (lazy, stupid, ignorant, criminal, etc.) ruin what they have. Chronic renters never do any upkeep unless absolutely necessary. This isn’t just a racial thing, since poor whites and others do the same. But you move out the termites and fix up the place, and voila, things become quaint, scenic, etc. Many rural places in the West are now full of relatively rich ex-New Yorkers or Californians. Locals gripe but owners sell and move to Florida for retirement.

    “You can’t eat scenery” is the old phrase. I was raised amidst scenery, but there were few real productive jobs. Costs are high and wages low.

    So maybe the Chinese will come and go. Can’t blame them for diversifying assets out of Xi’s reach. But like most temporary foreign residents, you can’t really trust them to do honest business if they can just move back home if things go south. It’s an old immigrant tradition.

  94. @128
    I always wonder if some alien will take up interest in preserving say, white people and teleport them to another planet that is set up as a nature preserve for them.

    Replies: @Known Fact, @Forbes

    If you’re to preserve a living organism, it’s best to do it in its native habitat, rather than in captivity.

    Zoo animals are a modern form of enslavement–why the Left allows zoo captivity should be a warning to all…

  95. I have no problem with foreigners buying US real estate. It’s not like they’re going to dig up the lot (down to 4,000 miles!) and ship it back to Timbuktu.

    I do have a problem with folks whose US purchases anchor them here as tax leeches.

  96. @martin_2
    @Bill B.

    I was up until a few years ago involved with estate agents in property letting and the Chinese are already buying up properties in the UK and renting them out to British people, thus driving up prices.
    The Chinese don't live here, the rent money goes overseas. Its a betrayal, and there is no way a Westerner could do the same thing in China. The Chinese have more sense and self respect.

    As for letting the Chinese from Hong Kong in. I would have thought the liberal establishment crowd would be against it as the Chinese kids will be a hell of a lot smarter than their kids, and will compete with them for places in good universities etcetera.

    Replies: @epebble, @photondancer, @Gabe Ruth

    Its a betrayal, and there is no way a Westerner could do the same thing in China.

    Take a look at your 401(k) portfolio. If it mentions REITs (Real Estate Investment Trusts), that is what they are doing.

    Many of the absentee landlords people are complaining here are REITs owned by many Hedge funds.

    Steve Mnuchin, recent Secretary of the Treasury, became rich by doing that.

    https://en.wikipedia.org/wiki/Steven_Mnuchin#Purchase_of_IndyMac_and_other_loan_portfolios

  97. @Muggles
    Immigrants or their families/clans often prefer real estate to other 'paper' investments, as they often do in their homelands.

    Plus you can rent to relatives or other immigrants through local origin connections.

    Plus Uncle Sam has a poor scheme for knowing who is collecting house rents, unlike nearly every other kind of taxable income. So lots of tax free (in practice) income. US real estate in many places has been a good solid investment.

    Property rights are respected here (other than in Woke ruled cities).

    So the Chinese are just being smart. Other foreigners who send migrants also do this as well. Rent houses are popular with Americans too.

    Replies: @bomag

    Everything you say is true, but it is something heritage Americans should guard and use for themselves.

    Other places in the world zealously guard who owns property, knowing instinctively its scarcity value.

  98. @Hockamaw
    Don’t worry. Soon the US will have degenerated to such a pathetic degree that the Chinese won’t even want to come here to take advantage of us anymore.

    Replies: @Daniel H, @RadicalCenter

    Perhaps, but they’ll still be glad to buy up and live as kings in the formerly American places with beautiful weather, such as Hawaii and coastal Southern California.

  99. @Fubar
    Ive noticed this manifest in different ways with different ethnicities. Greeks, Lebanese, and Nigerians love starting restaurants here in Houston, oddly most are all but empty. Indians...motels... same. Arabs and Pakistanis... retail strip centers and convenience stores. Chinese... laundry.

    None of the above could be independently profitable... I do my laundry with the local wash'n'fold even though my alternative is free! But for $20/month, why not?

    All of this seems to be people taking dirty money that isn't safe turning it into safe clean money.

    Never figured out what the narcotrafficantes do with their money.

    Replies: @Jack D, @education realist

    Yeah, there are a lot of all-chinese strip malls that are cash only. They’re just one big money laundering project.

  100. @128
    For example, some parent paying for his children's rental of an apartment near school constitutes a valid circumstance and is above board.

    Replies: @RadicalCenter

    Rental by non-citizens, fine. Purchases by non-citizens, no.

  101. https://www.newyorker.com/magazine/2020/12/07/using-the-homeless-to-guard-empty-houses

    Wandering around Northwest Pasadena, I pressed my face against the window of a dingy pink stucco house at 265 Robinson Road. It was April, 2019, and in two blocks I had passed thirteen bungalows, duplexes, and multifamily homes that had gone through foreclosure in the past fifteen years. Twelve of them were still unoccupied. No. 265 had been in foreclosure for a year and a half, and the two small houses on the property had long sat empty. But now, inside the rear house, there was a gallon jug of water and a bag of peanuts on a Formica kitchen counter. The walls were a mangy taupe, but African-print sheets hung over the windows. As I walked away, I heard a genteel Southern accent from behind me: “Can I help you?” A Black man with perfect posture, wearing loafers and a black T-shirt tucked into belted trousers, introduced himself as Augustus Evans.

    I wasn’t the first person to wonder what Evans was doing there. A few weeks earlier, two sheriffs had knocked on the door around 11 p.m. and handcuffed him.

  102. @martin_2
    @Bill B.

    I was up until a few years ago involved with estate agents in property letting and the Chinese are already buying up properties in the UK and renting them out to British people, thus driving up prices.
    The Chinese don't live here, the rent money goes overseas. Its a betrayal, and there is no way a Westerner could do the same thing in China. The Chinese have more sense and self respect.

    As for letting the Chinese from Hong Kong in. I would have thought the liberal establishment crowd would be against it as the Chinese kids will be a hell of a lot smarter than their kids, and will compete with them for places in good universities etcetera.

    Replies: @epebble, @photondancer, @Gabe Ruth

    We have ample evidence of how short-sighted virtue signallers tend to be. I’m more intrigued by why the Tories want to let all these people in. Are they really so confident that they can maintain their societal position in the face of an influx of thousands, maybe millions, of very wealthy people who, despite their political differences, still have a basically Chinese point of view on life?

  103. Anonymous[163] • Disclaimer says:
    @John Milton’s Ghost
    I assume Abe is in California? I was talking to a Pasadena local, a low level figure in the entertainment industry and predictably liberal leaning, who said with some disgust that “all of San Marino” (the even wealthier enclave south of Pasadena) is now owned by absentee Chinese nationals.

    While the major political figures in both parties want to invite the world, I suspect that vast majorities of American citizens would like to see a slowdown of all immigration, including the wealthy and skilled elites.

    Replies: @Neuday, @Alfa158, @Anonymous

    From Wiki:

    “To a prior generation of Southern Californians, San Marino was known for its old-money wealth and as a bastion of the region’s WASP gentry. By mid-century, other European ethnic groups had become the majority. [But] In 1970, the city was [still] 99.7% White”

    Fifty years later, it’s 60% Asian.

    I’m sure the beleaguered long-time white residents who’ve witnessed this transformation would love a time-out. If something similar happened to upscale places where Very Important People congregate, like Beverly Hills, Bel Air or Westchester enclaves like Katonah and Chappaqua, the current mass undigestible flood of immigrants would have been long shutoff.

  104. @Known Fact
    @Achmed E. Newman

    Someone posted a link to a subreddit on dead or dying malls. They're already like eerie archaeological ruins, clues to a once-thriving civilization but what happened to all the people?

    Replies: @Jack D, @JerseyJeffersonian

    James Kunstler has been predicting this would happen whenever the justifications for their existence no longer obtained. It’s all part of what he calls The Long Emergency. Way, way beyond capitalism re-inventing itself.

  105. @Anonymous
    As much as economists try to bullshit their way out of it, it is a simple arithmetical truism that a nation running up a huge trade deficit with another nation simply *must* succumb to a huge and ongoing purchase of its assets by the creditor nation, simply to 'balance the books'.

    Replies: @Barack Obama's secret Unz account, @International Jew

    Economists don’t try to “bullshit their way out”. In fact that’s exactly what they teach.

    • Agree: Craig Nelsen
    • Replies: @Anonymous
    @International Jew

    Ohhhh ....... But they do!

    For the past 30 years, at least, 'Globalisation' has been the predominant mantra, dogma and orthodoxy held by the political class, which has swept all away before it. It is like a religious creed to the elitists, who defend it - unlike any other position apart from 'equality' to the bitterest of bitter ends. They would very readily kill and mutilate for it. Macron.

    It has always been sold thus: 'Globalisation benefits everyone!' Globalisation will make you richer! Globalisation is the best idea ever! Only a fool would doubt or halt globalisation! We are all winners! etc etc etc.

    But only, you *never* hear it whispered that if present trends vis a vis China and the USA persist - they haven't changed in decades - then ultimately and inevitably the USA will become a wholly owned subsidiary of China .....

  106. @Barack Obama's secret Unz account
    @Anonymous

    But why must it? I never understood that part. What makes it a law of nature?

    Replies: @Anonymous, @International Jew

    I can explain it to you in way fewer words than Anonymous: people won’t give you stuff for free. If you aren’t paying with goods, you need to make up the difference some other way.

    Counterfeiting your trading partner’s currency might work though!

    • Replies: @Barack Obama's secret Unz account
    @International Jew

    It still doesn't make sense to me. The argument, as I see it, and boiling it down to the essentials, is that, just as if two balloons are connected by a hose, and one balloon is squeezed, the other will expand, so if Americans buys lots of Chinese widgets, the Chinese will ipso facto buy lots of American real estate.

    There seems to me to be a huge logical leap there, as well as a conflation of the laws of nature, which are made of iron, with the laws of man, which are made of pudding.

    (Par for the course, for economics, which in my view is just political theory posing as science. "The market will correct itself! Wait, no, it won't! Government can correct the market through multiplacative-in-effect stimulus payments! Wait, no, it can't! You can't have stagnation and inflation at the same time! Wait, no, you can! You can't just print money forever to stave off your colossal public and private debt! Wait, apparently, you can!")

    I can agree that the financial system is structured such that, simplified, a current account deficit in country A must equal a capital/financial account surplus in country B. I just never did understand why it's impossible for them to not equal.

    Hypothetical, for instance: suppose American banned foreign ownership of assets, or capital inflows, and policed it effectively; suppose it continued to rely on importing Chinese consumer goods; suppose, for the sake of argument, that the Chinese did not cull exports in response. What actually happens then? I don't know, but I have no faith that whatever economists tell me can't happen won't happen.

    Replies: @International Jew

  107. @AKAHorace
    @Reg Cæsar


    China is not a communist country.
     
    That means they– or you– are lying.

    I would say they are. There are crackdowns on genuine sincere Marxists:https://www.ft.com/content/fd087484-2f23-11e9-8744-e7016697f225

    The system seems to be a capitalist society run by ex Communists.

    Replies: @Reg Cæsar

    The system seems to be a capitalist society run by ex Communists.

    “I’ve got mine, Jack.”

  108. @International Jew
    @Barack Obama's secret Unz account

    I can explain it to you in way fewer words than Anonymous: people won't give you stuff for free. If you aren't paying with goods, you need to make up the difference some other way.

    Counterfeiting your trading partner's currency might work though!

    Replies: @Barack Obama's secret Unz account

    It still doesn’t make sense to me. The argument, as I see it, and boiling it down to the essentials, is that, just as if two balloons are connected by a hose, and one balloon is squeezed, the other will expand, so if Americans buys lots of Chinese widgets, the Chinese will ipso facto buy lots of American real estate.

    There seems to me to be a huge logical leap there, as well as a conflation of the laws of nature, which are made of iron, with the laws of man, which are made of pudding.

    (Par for the course, for economics, which in my view is just political theory posing as science. “The market will correct itself! Wait, no, it won’t! Government can correct the market through multiplacative-in-effect stimulus payments! Wait, no, it can’t! You can’t have stagnation and inflation at the same time! Wait, no, you can! You can’t just print money forever to stave off your colossal public and private debt! Wait, apparently, you can!”)

    I can agree that the financial system is structured such that, simplified, a current account deficit in country A must equal a capital/financial account surplus in country B. I just never did understand why it’s impossible for them to not equal.

    Hypothetical, for instance: suppose American banned foreign ownership of assets, or capital inflows, and policed it effectively; suppose it continued to rely on importing Chinese consumer goods; suppose, for the sake of argument, that the Chinese did not cull exports in response. What actually happens then? I don’t know, but I have no faith that whatever economists tell me can’t happen won’t happen.

    • Replies: @International Jew
    @Barack Obama's secret Unz account

    Let's imagine you're a plumber and I'm a dentist, and we strike a deal to trade plumbing for dentistry. What happens if after awhile, you feel you've given me a lot more plumbing value, than I've given you dentistry?

    Replies: @Barack Obama's secret Unz account

  109. @Anonymous
    @Barack Obama's secret Unz account

    Simply because of the Universal Law of Conservation, that applies to financial transactions as much as it does to matter and energy.

    Simply put, all transnational financial transactions involve the fact of an equal and opposite payment, that is the American importer of Chinese goods must pay in Yuan the cost of the goods imported, since Chinese wages, utilities etc etc must be paid in domestic currency. In order to do this, the importer must, on the currency exchanges, buy Yuan in exchange for dollars. If imports and exports between China and the USA perfectly balanced, then this phenomenon would be viable by exchange by traders alone.
    As it happens, there is a greater demand for Yuan by American traders than is supplied by by Chinese selling goods to America. This shortfall, of course, must be realised as a physical actuality in order for trade to continue - workers need pay etc etc - thus, it can only come from one source if it is not coming from trade. Somewhere 'in the system' the American owners of dollar denominated assets are selling these assets to Chinese buyers who are putting Yuan into the trading floor by these transactions.

    Basically, it's simple double entry book keeping, or in other words, cash and assets cannot be conjured up ex nihilo, at least as far as commercial contracts/transactions are concerned.

    Replies: @Barack Obama's secret Unz account

    See my other comment.

    One thing in your comment additionally troubles me:

    As it happens, there is a greater demand for Yuan by American traders than is supplied by by Chinese selling goods to America.

    If the issue is an American trade deficit with China, then why is American demand for Chinese currency greater than that needed to pay for Chinese imports? The only way I can see that is if Americans were buying up Chinese assets, but then wouldn’t that be offsetting their current account deficit and easing the difficulty?

    • Replies: @Anonymous
    @Barack Obama's secret Unz account

    Of course, another mode of 'balancing the currency books' is by the sale of US Treasuries to Chinese investors.
    Perhaps this is more iniquitous, such a set up means that via the agency of the US Government, Chinese investors have the very first claim - legal and actual - upon the wallets of every regular American Joe Blow worker and taxpayer.

    As for your hypothetical example of currency exchange being purely a matter of barter and auction of the relevant paper in an exchange type scenario, a shortage of Yuan vis a vis dollar, would simply drive the equilibrium level up. If the shortfall cannot be made up by the sale of fixed assets, bonds etc, it will be made up by portable assets such as gold, silver, jewels, works of art etc. In Yuan terms, American holdings of such chattels would seem absurdly cheap, thus initiating pressure to sell.

  110. @Paperback Writer
    @Peterike

    They don't have local Jews in China.

    Replies: @1661er

    https://en.wikipedia.org/wiki/Kaifeng_Jews#Early_history

    Most scholars believe that a Jewish community has existed in Kaifeng since the Northern Song Dynasty (960–1127), though some scholars date their arrival to the Tang Dynasty (618–907), or earlier.[2] Kaifeng, which was then the capital of the Northern Song Dynasty, was a cosmopolitan city on a branch of the Silk Road. It is surmised that a small community of Mizrahi Jews, who were most likely from Persia (see Persian Jews) or India (see History of the Jews in India), or Jewish refugees who probably fled the Crusades, arrived by a land or a sea route, settled in the city, and built a synagogue in 1163.

    • Replies: @Paperback Writer
    @1661er

    Mighty impressive research. Gotta say, consulting such an obscure source never occurred to me.

    Their gone now. Got absorbed into the Chinese people.

  111. @Jack D

    For example, a house I drive by regularly has a 1000 year old-looking Chinese man in ratty sweats living there. ...out front at least once a week pathetically trying to water it–with water drawn from INSIDE the house in a used milk jug! ....My best guess is therefore he is some poor country cousin relation of the real owner,

     

    Maybe and maybe he IS the real owner. One of the ways you get to own a $750,000 house is by NOT spending money on "unnecessary" things like nice clothes and garden hoses.

    For a Chinese man of his generation, having plumbing in the house is ALREADY an unimaginable luxury, forget about the garden hose. He might even be unfamiliar with the concept of garden hoses and if you tried to explain it to him he might not "get it" at all. I have running water in my house already - why do I need this hose thing when I have a perfectly good milk jug that I can use to water my plants? It would save time? I not too busy.

    Replies: @128, @Neuday, @1661er

    Or if he is like my mother, the water in the jugs are grey water, from the bathtub after shower or kitchen sink after washing dishes.

    There are people who grew up with the need to ferry water from well/river/etc. to supplement rain water storage tend to have habit of making every drop count.

  112. Anonymous[111] • Disclaimer says:
    @Barack Obama's secret Unz account
    @Anonymous

    See my other comment.

    One thing in your comment additionally troubles me:


    As it happens, there is a greater demand for Yuan by American traders than is supplied by by Chinese selling goods to America.
     
    If the issue is an American trade deficit with China, then why is American demand for Chinese currency greater than that needed to pay for Chinese imports? The only way I can see that is if Americans were buying up Chinese assets, but then wouldn't that be offsetting their current account deficit and easing the difficulty?

    Replies: @Anonymous

    Of course, another mode of ‘balancing the currency books’ is by the sale of US Treasuries to Chinese investors.
    Perhaps this is more iniquitous, such a set up means that via the agency of the US Government, Chinese investors have the very first claim – legal and actual – upon the wallets of every regular American Joe Blow worker and taxpayer.

    As for your hypothetical example of currency exchange being purely a matter of barter and auction of the relevant paper in an exchange type scenario, a shortage of Yuan vis a vis dollar, would simply drive the equilibrium level up. If the shortfall cannot be made up by the sale of fixed assets, bonds etc, it will be made up by portable assets such as gold, silver, jewels, works of art etc. In Yuan terms, American holdings of such chattels would seem absurdly cheap, thus initiating pressure to sell.

  113. @1661er
    @Paperback Writer

    https://en.wikipedia.org/wiki/Kaifeng_Jews#Early_history


    Most scholars believe that a Jewish community has existed in Kaifeng since the Northern Song Dynasty (960–1127), though some scholars date their arrival to the Tang Dynasty (618–907), or earlier.[2] Kaifeng, which was then the capital of the Northern Song Dynasty, was a cosmopolitan city on a branch of the Silk Road. It is surmised that a small community of Mizrahi Jews, who were most likely from Persia (see Persian Jews) or India (see History of the Jews in India), or Jewish refugees who probably fled the Crusades, arrived by a land or a sea route, settled in the city, and built a synagogue in 1163.
     

    Replies: @Paperback Writer

    Mighty impressive research. Gotta say, consulting such an obscure source never occurred to me.

    Their gone now. Got absorbed into the Chinese people.

  114. Anonymous[338] • Disclaimer says:
    @International Jew
    @Anonymous

    Economists don't try to "bullshit their way out". In fact that's exactly what they teach.

    Replies: @Anonymous

    Ohhhh ……. But they do!

    For the past 30 years, at least, ‘Globalisation’ has been the predominant mantra, dogma and orthodoxy held by the political class, which has swept all away before it. It is like a religious creed to the elitists, who defend it – unlike any other position apart from ‘equality’ to the bitterest of bitter ends. They would very readily kill and mutilate for it. Macron.

    It has always been sold thus: ‘Globalisation benefits everyone!’ Globalisation will make you richer! Globalisation is the best idea ever! Only a fool would doubt or halt globalisation! We are all winners! etc etc etc.

    But only, you *never* hear it whispered that if present trends vis a vis China and the USA persist – they haven’t changed in decades – then ultimately and inevitably the USA will become a wholly owned subsidiary of China …..

  115. @martin_2
    @Bill B.

    I was up until a few years ago involved with estate agents in property letting and the Chinese are already buying up properties in the UK and renting them out to British people, thus driving up prices.
    The Chinese don't live here, the rent money goes overseas. Its a betrayal, and there is no way a Westerner could do the same thing in China. The Chinese have more sense and self respect.

    As for letting the Chinese from Hong Kong in. I would have thought the liberal establishment crowd would be against it as the Chinese kids will be a hell of a lot smarter than their kids, and will compete with them for places in good universities etcetera.

    Replies: @epebble, @photondancer, @Gabe Ruth

    That gets at another long time Sailer theme, they way avoiding crimethink degrades your ability to conceptualize obvious problems. Your average NPC can see there’s something important wrong with your scenario, but to describe it increasingly would sound nativist, if not something even more sinister.

  116. My Chinese wife (She came here in ‘91) has a sister in LA. Her sister and sis’s husband own several rental properties in CA. They belong to a chat group of Chinese landlords, and last night, somebody in the group said not to leave rental property to the kids, because they’re brainwashed in school that landlords are evil, and the kids will end up getting rolled by tenants and the government. Apparently, there was mordant agreement all around.

  117. @Barack Obama's secret Unz account
    @International Jew

    It still doesn't make sense to me. The argument, as I see it, and boiling it down to the essentials, is that, just as if two balloons are connected by a hose, and one balloon is squeezed, the other will expand, so if Americans buys lots of Chinese widgets, the Chinese will ipso facto buy lots of American real estate.

    There seems to me to be a huge logical leap there, as well as a conflation of the laws of nature, which are made of iron, with the laws of man, which are made of pudding.

    (Par for the course, for economics, which in my view is just political theory posing as science. "The market will correct itself! Wait, no, it won't! Government can correct the market through multiplacative-in-effect stimulus payments! Wait, no, it can't! You can't have stagnation and inflation at the same time! Wait, no, you can! You can't just print money forever to stave off your colossal public and private debt! Wait, apparently, you can!")

    I can agree that the financial system is structured such that, simplified, a current account deficit in country A must equal a capital/financial account surplus in country B. I just never did understand why it's impossible for them to not equal.

    Hypothetical, for instance: suppose American banned foreign ownership of assets, or capital inflows, and policed it effectively; suppose it continued to rely on importing Chinese consumer goods; suppose, for the sake of argument, that the Chinese did not cull exports in response. What actually happens then? I don't know, but I have no faith that whatever economists tell me can't happen won't happen.

    Replies: @International Jew

    Let’s imagine you’re a plumber and I’m a dentist, and we strike a deal to trade plumbing for dentistry. What happens if after awhile, you feel you’ve given me a lot more plumbing value, than I’ve given you dentistry?

    • Replies: @Barack Obama's secret Unz account
    @International Jew

    What if I have, but I don't feel that way? What if I feel that way, but I don't care enough to do anything about it? What if I do care, but I can't do anything about it? What if I can do something about it, but you can block my actions? What if I don't even notice in the first place?

    Replies: @International Jew

  118. @International Jew
    @Barack Obama's secret Unz account

    Let's imagine you're a plumber and I'm a dentist, and we strike a deal to trade plumbing for dentistry. What happens if after awhile, you feel you've given me a lot more plumbing value, than I've given you dentistry?

    Replies: @Barack Obama's secret Unz account

    What if I have, but I don’t feel that way? What if I feel that way, but I don’t care enough to do anything about it? What if I do care, but I can’t do anything about it? What if I can do something about it, but you can block my actions? What if I don’t even notice in the first place?

    • Replies: @International Jew
    @Barack Obama's secret Unz account

    Too bad I don't know your true identity. If I did, I have a feeling I could live well at your expense!

  119. @Barack Obama's secret Unz account
    @International Jew

    What if I have, but I don't feel that way? What if I feel that way, but I don't care enough to do anything about it? What if I do care, but I can't do anything about it? What if I can do something about it, but you can block my actions? What if I don't even notice in the first place?

    Replies: @International Jew

    Too bad I don’t know your true identity. If I did, I have a feeling I could live well at your expense!

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