tods ballet flats- Professor Lang 2010 5.4 by the

you are not troubled? The results reduced the proportion of the export tax rebate and export manufacturing in the horizontal insert on the back of a sword, truly many, and very manifest to see the government completely misjudged the economic position.
third reason, in 2008 launched the first labor contract decree, the introduction of this bill makes our third of China's manufacturing industry in trouble immediately, resulting in lost business results, as long as the companies lose employees to lose, Labour lost the government foot the bill the Government to lose. This article Source: Wealth quotes, financial 2012
below in these two frameworks, you suddenly find that the Chinese economy in two patients, attach with the wrong medication, production the two sum root through the prices of these two malformations explosion.
third, car appliances establishing matters to the village;
then there were four prescriptions, listen clearly:
theory in the environment of two differ government macro-control to make a alternative, because the government wants to control through macro-control bubble.
Dear friends, please note that this is the price the government began regulating the real beginning of the epoch may be all wrong since 2006, has been wrong up to now, the government's macro-control had what kind of analytic? They think that way by raising interest rates, and so want to be able to recover liquidity, as many scholars say, because these are caused by excess liquidity.
Okay, so it did not rule the first four recipes disease, the second disease is more serious overcapacity. If the second disease is more serious, of course, burning your cilia even more solemn.
structural one, that is not free love, free love can not obtain a marriage copyright, must be local governments and property developers through the formation of monopolies and to him to buy a house this is the first point.
then you asked me why the impact will be so big?
Ladies and Gentlemen, the crisis you know you comesintoseffect it? Once created it is how to do?
it? That is too much money in your hand, property speculation bubble, stock market bubble. This article Source: Wealth quotes, financial 2012
trust that I talked about here, we are able to understand: So China is the only country in the world had two patients, one is the overall deterioration of the investment environment, and the second is a serious overcapacity. So a lot of money to stock market speculation, resulting in fever, we misread it as a rebound. That is why we are making real estate developers to make money last year, the Xinjingdantiao, because your mind is clear, you are the operator of the market you are very clear that you acquire money, money is not normal, is our economic fever money. This article Source: Wealth quotes, financial 2012
prices of property tax is to suppress it? One of the most basic truth even do not understand, so for this I have only four words in the norm - nothing to say. With by fewest one of the most basic notions of real estate management unit do not understand, you want me to talk about the what with the Lang, what to talk about it?
you is to use your terms, you are specifically the formation of such a monopoly organization. So private is the same with us, we talk more specifically, we can not be like the United States, Sweden, etc. Some countries, like Germany, like if we can not be some planning by the Government, after the release of some of the careful provisions of our buy their own chip of land, our own Can you build a house?

fourth, bank credit Liucheng do infrastructure.
please note that the bubble began in 2009, do you remember me give you counsel? The next major crisis that is a precursor to ah! So what is the next big crisis?
In fact, the real estate you want today
third, a large number of bank credit deserving to inflation of the inevitable. This article Source: Wealth quotes, financial 2012
me give an sample in terms of, we even Recently added property tariff to be introduced, to what end? To suppress prices, ladies and gentlemen, the words came out shocked the world and you know why?
you you think the property market today is because the warming caused it?
you think about it, I started speaking today to tell you the time, China's property market has started from 2003, has built the structure of the two defects: the first, allowed to free love, the inevitable the formation of real estate developers and local government monopoly; second, the only country around the world almost one hundred percent real estate, you do not talk to me any affordable housing, it is dotted with the.
Well, in 2007 the government raised interest rates 6 periods, my friends still remember the 2007 stock prices, how prices alteration? I depart solo to talk about stock prices, higher interest rates 6 times six periods a day, without exception, all the price increases, and why? Government not to heave interest rates already? Liquidity is not to heave interest rates to recover it? So money is not in our hands to do less? Not presumption stock is not it? Prices ought fall, stock prices ought fall, why not drip it?
marriage agency intermediary fees to assure that shot up, and why?
then turn to the Hong Kong, if our friends have the opportunity to travel to Hong Kong, Hong Kong tour adviser will show you around saying . He will be a beholder, a bit affective excitement of Hong Kong to introduce you to celebrity homes, talk to you from the inside of his did you see his discontent, and even the disgust you can not see him, you know why?
so I am very simple and speak approximately what happened the elapse few years, you ascertain that government policies make the investment in every of us today not for 2006, the commerce context, but also worse, and you may ascertain it very strange that Professor Lang how do you talk about things with us do not think the same? How the more worse the more prices heave?
second, ten industrial revitalization procedure;
stimulating domestic demand, very well, so tell me I am very grateful. But today I took convenience of the chance of this sentence, I must tell each and each friend of this country and the government over the years ten to 90 a number of control measures introduced, there are several prescription Wen Jiabao that all committed What do you call the same problems?
no potentiality that it namely not legitimate. That happened apt me a very amusing sameness, you know what human would go to marriage agencies it?

you solve this problem is not the disintegration of the Chinese economy swiftly, come to the stage today, so we promoted the export of an unprecedented scale, allowing Americans to spend, give us absorb excess capacity, the problem is the Americans Consumer spending is how ah? Basically lend money to spending short bubble ahead of consumption.
So immediately sponge excess capacity that we are spending bubble, at all times the bubble will burst, the question is how broken?
I ask you, state-owned enterprises of the two disease solved? Have not been resolved, the first patient did not resolve, the second disease is more serious. Then the state-owned enterprises to get so much money that they do?
Since a fever, we will certainly pay a price, and our government began to heal. Starting from October 2008, drove for six tigers of the narcotics to cure diseases. If you can prescribe the right medicine to remedy the patient, the end of 2008, the bubble in early 2009 should be eased.
you are completely erroneous, acquaint you a correct response, we are not leadership the globe to pick up, we guide the globe sick. It is for these 2 diseases is not decided, to January file, the entrepreneurs did not do it, do not ambition to fund the results of a massive number of the real economy has begun to enter the attribute market, stories, motorcars, luxury goods, causing a fever, because of cancer will surely fever. Oh, mention so aboard the remove, China is leadership the world had a fever, that's it, this is reasonable, alternatively else by inches unreasonable.
ask you to listen carefully to each friend, which means that from 2003 to 2006 after the case as long as you can see a bubble in China, it is a precursor to a future even greater crisis, remember my words. Bubble in 2006 shows a large number of the 2008 collapse of the manufacturing sector, this time the government accomplished that macro-control policy all wrong.
also released a full year to 9.59 trillion, up to 12 trillion in January this year, you are not fearful of inflation? Inflation to how to do? Your money in the bank's hair, in mandate to provide the money you dare barren real economy? Such as opening a plastic stationery plant, or leather processing plants, not because we Jiangsu, Zhejiang serious overcapacity leather processing plants, how to do it?
How do babies disburse school fares?
Why?
Why?
your fear of the past year to tell you, the original money earned is the fever, many of the investors in the last year, they also rescued a lot of money, is not it? Why? Fever of money.
how to do in hereafter? You how to do real estate? This article Source: Wealth quotes, fiscal 2012
a new growth point in the future so how? You tell me?
please answer my question ladies and gentlemen, these four prescription what is the meaning of its marrow?
we to January 2009 data as an example makes me feel frightful, January exports fell by 17%, imports did fall 43%. Wow, this is horrible! Raw materials other than crude fuel decreased by 50%, imports of mechanism and equipment plunged 40%, you know what you disgustful meaning? Why do we bring an end to ... this year's property bubble to get busy this.
excess capacity, 2 million people unemployed, China's labor coerce, but 580 million. This is your future you, until you find the beginning of 2009, what kind of foam is a precursor to the crisis:
course this is not the subject of talk today, I do not must spend too much time to talk about it. However, please think about the signification if the Chinese by Wen Jiabao, so much excess industry, but also for the first time 3 weeks ago, he recognized China's unemployment is not 20 million, it is vain Bureau of Statistics of China, but 200 million unemployment!
making decisions based on arrivals is the most terrible, and not understand the essence of what is the meaning.
not possible because of his incredibly engaged,tods shoes on sale, why?
real estate you do good, to other businesses Ye Hao, you heard me tell you the data you must have the emotion of alarm, the world is not such a country, the consumption of other countries have accounted for 80% of GDP. Only one country in the world is 30% below that of China, so you can take the data from a fear of consciousness, and these data combined with real estate development is a horrible ending, ah, you have did not anticipate?
Why? Is because the Government of the four prescriptions, and its result is used to digest excess capacity tomorrow, today's overcapacity, wait until after construction is finished his discourse, Comrade Wen Jiabao. Ladies and gentlemen, China has slowly by and by nearly all hikes of life have way to a citizen severe overcapacity in the big black chasm.
There is a second question, I also paint consideration to it. I just talked about the example of Singapore,tods d bags, real to real estate is not even 5%.
then please think about this for two years to our Chinese economy is not what you might think, because the only good location bubble?
second, with the protection of the nature of anybody housing, including affordable housing and low-cost housing disappeared after 2003, then this is the beginning of the two abnormal structures.
even in the end you will surprise that we are not a socialist country, the whole world the Chinese people still like this, is inconceivable.
and you understand our so-called fashion scholars of Chinese people with my outlook is contrary to, they say all this is because economic development is too successful, too rich people, so we only have so much money speculation stocks, they go put this phenomenon is phoned the interpretation of excess liquidity.
that is in front of me talking about the two diseases we do not solve the circumstance of a manufacturing-based personal entrepreneurs have not done, so do not import raw materials, so do not want to be doing?
knows what it really mean you do not know?
the first one, you are very versed with the construction grasp drag GDP.
background in both house prices has been laid today, the basic pattern of tumor, that China's real estate problem is a structural problem:
launched around the world are aimed at property tax to raise funds to do the local government development intentions, and is very characteristic.
car? The whole world last year, down 20%, 30% of circumstances we money the trend growth of 46%.
a large number of hedge funds to flee the impact of inflation, the stock market, more to the impact of the property market.
Take the example we are familiar with Hong Kong, Hong Kong, do you want low-cost housing with affordable housing that need to bring an end to ... a very rigorous examination, and Hong Kong's civil service system not only clean and effective, definitely not like us here as affordable housing. For example, we often talk about the many examples, to the cellar is a look at BMW and Mercedes-Benz, this injustice to the people how cerebral poise?
did not, and no fashionable growth point of China's economy will fall into a long-term stagnation.
because it is government's duty, governments around the world without a government does not put this thing to sprint as a top priority. Affordable housing with low-cost housing is a illusion in our sound, have been implemented in other countries very much.
because Hong Kong is far more than half the residents that he is enjoying the Hong Kong Government to cater public housing, the housing is what nature? It has the characteristics of affordable housing, but also has the specifics of low-cost housing, we are so expensive in Hong Kong where, for its low-cost rental housing only a few hundred pieces a month, and even to two or three one hundred, but the Mainland and Hong Kong this is a large breach among wage proceeds, and why Hong Kong can invest such a inexpensive low-cost families? This article Source: Wealth quotes, financial 2012
That is a serious citizen
great, makes the consumer and the first plan example is only 35% in 2008, the second policy making capacity becomes 70%, 70% of the capacity consumption of 35% there, then my friend, you're spending that chapter can not be called what? Called caustic overcapacity, how should we do?
through some of the rules we have, setting does not allow us treatises free love, free love were not at the peak of the marriage certificate issued to all of us to a monopoly that is real estate developers and our local government, then I ask my friends you yet have the prelude of a monopoly, so prices will only rise and fall, this is the first element, we have to bear in idea in idea.
a bill to create business, fatigue, government three-lose situation that is not effortless, we all did.
Fourth, I have just said macro-control, the overall misdeed.
fifth element, showdown tax increase last year dealt a further thump to our first example.
then ask you friend, while you do business after the birth of these two diseases would you do?
What do you mean? What is the use of excess capacity tomorrow excess capacity to digest today?
So today I listen to a lecture
excess capacity, in fact, you think about the financial crisis would have told us that the virus does not material, that is financial, we have so many Chinese banks are also the financial, not correlated with others, playing their own, you What excitement? We are also subject to a lot of impact and why? So back to our government, that is because the local government's policy over the years caused the error, making the loss of our plenary economic system of immunity, what policy? Two:
This is the first question we need to think about, but I would favor to make an entry point from this, please think about your friends and then in counting to the evolution of the Government and the developers that you can legally purchase real estate, you are there may have their own fund-raising, there is no such possibility Think?
the reason why the second tranche of funds to avoid an inflation hedge funds?
great, so we to talk about the stock market, why the stock market to pull three or four thousand points today, because the impact of three separate funds, the first two patients did not resolve, the first impact of the manufacturing sector funds. The second document, the two diseases have not been resolved, the impact of credit funds. The third document, the two diseases have not been resolved, to avoid inflation, the impact of hedge funds market. The impact of the stock market three sum, only one reason: the two diseases have not been resolved with the wrong medicine.
my friends will think if a male does with the wrong medicine, and that fever is more serious, you should understand, the following words Needless to say, in fact, I am smarter than you, listen to understand, Let's see if the prescription is how come, of course, time is limited today, I will not talk in the near futureo much.
That is why in 2008 57% of GDP which is steel and cement, making the consumption of compressed to only 35%. Worse, by 2009, 67% of steel and cement, only 29% of the consumer.
us to Sweden, for instance, half of the real estate people are building their own joint adventure, we can do?
mini things you see from this out, this market is definitely abnormal and even gave birth to a large number of lazy real estate developers, this is altogether incomprehensible. So I ask why you would come to this tread?
is not adore people who talk, less acceptable people may thing to the marriage agent to find, if an day the provisions of the Government suddenly not granted to fall in adore, marital love and be published a marriage certificate does not need to to marriage agencies, then you know what result?
So it
So back then, what is excess liquidity, it is too much money on hand, property speculation bubble, stock market bubble. Therefore, the Government's gut response is to raise interest rates to recover mobility, because in their mind as long as the liquid inside the back of the good, less money in our hands, not speculation, and not even stock, so the problem together solution.
The second patient developed fever
on the next Lang: regulation of real estate I have nothing to say (on)
to the end of 2008, the financial tsunami has at present started when we officially entered the era of the so-called financial crisis before, Guangdong Province, the manufacturing sector have closed down 30%, Jiangsu and Zhejiang provinces have closed down the manufacturing sector by 20%, may I ask what is does that mean?
That is what our Chinese manufacturing industry ah? Simply say that imported raw materials, machinery and equipment imports of coarse, raw materials or if a half months of imports, imports of machinery and equipment fell into four terrible you know what is the meaning of it? You can not try to experience how terrible this crisis?
first, what is driving the construction grasping GDP? That is, building bridges and roads and so on through all levels of government means, of course, driven by way of the real estate driven, and so we GDP, in recent years is not everything remarkable growth of our economy are basically driven by the infrastructure, real estate results, that is driven by the results of reinforced concrete.
The first prescription
property you are concerned, why today's topic?
When you encounter the interests
no. But I tell you that other countries separately from China can, why?
that I would ask you, as we Dongguan, the owner of these manufacturers, chairman of the board it is possible to climb the mountain, talk about life, about philosophy?
how come? That the remaining four as bank credit is used for?
because the government policy objectives is all wrong, and I mentioned is right, that is, after 2003 our economy has been sick, and had the first patient that I just told you a comprehensive investment and business environment has deteriorated, So every time the government in 2007 to raise interest rates is a further blow to our first patient, making our manufacturing-based private investment undertaking operating environment facing the worse, and worse then what is the result? He even did not want to, so he took out from the real economy more money to stock market speculation, which is why share prices in 2007 raised interest rates six times six times higher, the price you know and have continued to rise.
from 1998 to 2003, housing prices are relatively settled, of lesson, I can not say because of the contribution of the bill. But you calculate that if we board on this road, it is that the Singapore model, the Hong Kong prototype, and will not come today. (Bloggers note: This is what the dynasty of Zhu Rongji, who is comparable to the Ming Jang)
2003, Hong Kong, Singapore model evaporate, we the people can no longer enjoy the benefits of all Singaporeans can enjoy, so 80% of affordable housing in 2003 changed always 18 of them commodity housing. Plus 10% of the incipient arrange for up to 90%, combined with our local administrations have no power to do low-cost housing, so since 2003 has fostered a very 100% of a nation house goods - China.
second, investment.
That is why, last year, real estate developers Xinjingdantiao earn money, because they are. Both of these speculative funds were squeezed out how? Two patients have not been resolved with the wrong medicine, causing this abnormal situation, until today, until April 19, April 19 approach the district ahead the house of the Greater Shanghai began to rise. This article Source: Wealth quotes, financial 2012
This is very major, it is the use of future excess capacity to digest excess capacity today, and today I want to pass this opportunity to tell you how much the current crisis. And you know what I say must be right, must occur,tods sneakers, please listen to me carefully emulating you for a minute, then you know how much your future crises.
then went back to 2006, our friends remember us really remember, and even real estate bubble is starting from the second half of 2006? I ask you why?
but then again, China is the world's only our chief real estate market, you indeed unthinkable.
short-term financing is effectively state-owned enterprises.
Why do we control the more tensioned the more worse every time? Even many government policies or even countries several States a few, what is it? Call a place on the chaos, a chaos on the land, a close to necrosis, and put a death. Do you know a few times? 2008 Who told you to retention the city? Why?
I speak in front of two structural problems Buzhi Yu. Need a push up house prices, the impulse to get busy around the beginning of 2003 the investment line of business environment deteriorating reality.
come this far and is closely narrated to past history, I hope that through an hour lecture today, this thing you do with a relatively clear comb.
next waiting for? Next to such a fuse, how to make China's house prices across the board under the two abnormal structures out of control.
This is China, but our Chinese students is not only this disease, the virus makes the financial crisis you had to sit a second disease, what disease?
2010 年 1 月 20, March 20, April 6, said power coal, coke, steel alloy, electromagnetic, steel, nonferrous metals, architecture materials, light industry, linen and all the excess capacity.
Therefore, we could not aid but think of
so many years no one can give answers, and today why I do not want media coverage, I can tell you the answer, that is, all the control measures of all government policies, there is only one reason, that is, the phenomenon of making decisions based on the surface, called a headache remedy the head-gap measures. Into a stop-feet this year, even worse, and not as piecemeal, because in this, understand what I mean? Treating the foot.
second, severe overcapacity caused by the inevitable development of economic stagnation - stagnation of the economy;

because in an economic development to a stage in the people of Home Ownership of the circumstances, your estate as the market supply and demand for commodities and the development of people is not dislike, this world itself will be capable to achieve harmony . Then you say to the knowledge of our government officials did not he would not know?
Some people told me
Lang Lang real estate regulation: Actually my friend, no country in the world will care about this subject today, the world would be so not a government regulation of real estate, this can be said to have been obsessed a situation. This article Source: Wealth quotes, Finance 2012
luxury products? Fell around the world between 5% to 15% of our trend growth of 20%, so we Statistics Ye Hao, Ye Hao government units, media units Ye Hao, we lead the world to lukewarm up.
that around 2003 we have a manufacturing-based entrepreneurs in China, they face the investment environment has begun to deteriorate. So to the second half of 2006 we have found a number of enterprise funds to do the real economy, resulting in stream in the absnece of speculation in the property market bubble in 2006, thrilling the stock market bubble.
friends please accept my gift. Asset bubbles, economic stagnation, inflation of this is brought about in 2009 the inevitable outcome of the bubble.
to you either think you can lead the world to brush, do you think feasible? 08 I say this sentence is a total, how can you?

to the end of 2007, officially closed the central economic go conference announced twice room, then this is the first time in years we have seen so very strict macro-control, I was directly in parts of speech I made clear my attitude, I said, the central Economic Work Conference concluded all wrong, the more you control the final result so harshly stock and property prices more line out of control, why? Because such stringent regulation and control will make our first disease worse.
you think about it, China's leading pick up, that we are not normal.
Last year, the bank credit
We found a lot of money out of the real economy from the manufacturing end of 2008 to early 2009, began to enter the property market, stock market, buying a car to buy luxury goods, resulting in a series of so-called pick up, and that is always bragging to say that our media We are China's stock market started from November 2008 to pick up the universal leader for four months, China's property market slump in 2009 in the world utmost circumstances, we stood out.
fact, again, the How not to launch it early?
the first, four trillion;
after the launch of this program is relatively easy, you think about, why we often hear the medium Ye Hao, people Ye Hao, real estate developers and local objection of the Government will form an unbreakable interest team it?
but by 2003, which has likewise announced a government unit 18, the so-called affordable housing for a bizarre interpretation given that the ecology of the goods with conservation of housing to replace affordable housing.
agricultural reform, and the second prescription health care reform. Talk about, and why? Did not talk about the texture.
then the nature of the four prescription what is the averaging?
financial tsunami.
So today I come, I do not know how to talk about this subject, but time is very short. For purposes of this topic, you will find the entire of China is its absurdity, case in point, an industry around the world where businessmen can constantly go hiking, talk about life, about philosophy, in which an industry's business? Do you think we have nothing to doing real estate business?
In fact, I talk to you if necessary you the world one country to pick up in China, and this means that you are not the same with other countries, and think of yourself with others if you are not the same man, in the end you not normal, or is it not normal people?
such as the United States, property taxes can only be done after two uses, the first use of local police, the second public schools. ENTITLED TO BE migrated to its use, not as we do when the expenditure, how to do it love how dry it is not.
the results of local governments, as we mad Suzhou investment is a prime example of this capacity is a meaningful expansion of large bursts, and we have production capacity of up to 70% of the GDP.
my friends can not comprehend what today's China is a dangerous situation it?
2008 年 11 months prior to China's export growth rate in this are more than 30% per year, in November 2008 for the first time into a negative 2.2% in the year 2009, a negate 16%, our exports can not get out Americans do not consume, then we immediately exposed the crisis of overcapacity, so gave birth to a second disease.
What is excess liquidity
then in 2006 when I was called to the house price bubble in the bubble views put along, I think the overall deterioration in business environment for investment, which means that China's economy began a crisis across the board.
to the September 16, 2008, the Government think it is more authentic Lang, notwithstanding his speech comparing it bluntly, whether spoken or right, so the macro-control to do a 180 degree rotate, the total from the past tightening into an utter lax. Wrong again! These people are not taught, and the web go to extremes, may I ask you friends, from 2006 to today, every one of you was the first disease that I just reiterated a lofty degree of environmental degradation Members of the investment management is to improve it, or worse? Of course, is even worse, for several reasons I can be an example. First, the RMB exchange rate gratitude of 20% in the past few years a serious blow to China's export manufacturing.
second reason, three years ago the Government to reduce the proportion of export tax rebates, up to July last year, only to find a fault, then transferred back to 17%, the question is why do you lower it three years ago?
we have in Singapore, high-end real estate such as ours, like everywhere, only 3% of real estate to sell you believe it?
not, but we fall into a deeper crisis, we not only have the same with the crisis of 2006: the first disease worsening business environment for investment, and has even worsened, the financial tsunami we had our second down disease called overcapacity.
and made me feel puzzled is the time in addition to property and stock markets also appeared appearance of even our so-called unprecedented unheard anecdote of tea with mahogany furniture, you may even find that social capital has scatter to the point? Speculation stock market itself can not meet the place of these funds must also be entered with mahogany furniture, a array of tea, this is the beginning of a national crisis.
a more ridiculous reason: because the two years of agonizing, we sell to the local government also sold, the money circle the surround; we real estate developers to make money earned this year is Xinjingdantiao, Liushenwuzhu. But no matter how say, the money has earned, in both interests have been met under the premise, we launched the This article Source: Wealth quotes, financial 2012
then we seeing via the history of the State Council promulgated in 1998 a 23, which specified how? That is our goal is to back the ruling to build 80% affordable housing, 10% of low-cost housing, and 10% of the commodity houses.
this is a question of your enterprise, once construction is finished after the freeway built excess capacity, eliminating the need for steel, not cement,tods ballet flats, these two industries show their colors - excess capacity,tods flat shoes, so China presently To become a citizen black hole overcapacity.
I thought it all to bring an end to ... in June this year, but I was too optimistic, I say go wrong, and to see how Premier Wen Jiabao told his: listen cautiously, August 26, 2009, Wen said the State Council executive appointment, steel, cement, plate cup, coal, chemical creation capacity surplus.
I will take four trillion, for example, where is it? Midwest infrastructure. I then highways, case in point, was built there after completing the on race car? Little cars run, the highway can be built after completing all excess capacity, but when the need for construction steel, necessitated cement, steel market today so you can digest more than 200 million tons of excess capacity, the cement market can digest more than 1.1 billion today tons of excess capacity, has looked booming.
second investment, what we all levels of government investment dare to sign, what dare to sell, what are daring to do, do not dare, what environmental pollution, resource erasure, exploitation of local people did not care. This article Source: Wealth quotes, financial 2012
out of such a control measure is simply nobody good or many, out of 90 after several control measures we need today to talk about the boring subject I do not know why you this is a failure 90 times , but today prices still so out of control.
this subject we excavate it, in truth, a agreeable heading, please think about the two amount property: first, the two diseases have not been resolved, the impact of fabrication the first property asset. The second file, the two diseases have not been resolved, to avoid an inflation hedge funds went into the property market. Both of these funds were all referred to as speculative chief, the shock of their specialized high-end real estate resulting from last year to now sell the more valuable high-end real estate market, the more renowned. Not our absences, not, but the two pen from the shock of speculative chief.
first, the character of the stock market spume housing bubble things bubble;
a large number of bank credit into the stock market caused more fever, while the phenomenon of land speculation caused the potentate around the endless.

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