On: Crime rings trafficking sand

[catherinecodes]

The same day we have an article about a Chinese property company going bust who overdeveloped. All that sand is just sitting there in those buildings now.

[bboygravity → catherinecodes]

They didn't just over develop.

There's a nation-wide real estate investment ponzi going on in China.

Literally building uninhabitable towers for the sole purpose of being a counterfeit "deliverable" of "real estate" as an "investment".

It's a financial markets regulatory problem, not a "we accidentally built too much useful real estate" problem.

[ProllyInfamous → bboygravity]

Many youtube videos demonstrate how crappy these deliverables can be built. "Tofu Dregs" is how this building method is referred, for anybody searching.