China's Rapid Growth

I have mixed feelings about China's explosive economic growth. On the one hand, I am glad to see China opening up to the West. I am glad to see the common people raising their standard of living and being able to enjoy some of the many "luxuries" we Americans take for granted. For example, it is extremely rare in China to see anyone under 25 yrs. old driving a car. For that matter, very few other-age Chinese have automobiles either. But in America, it is actually amazing how many teenagers (even in lower class families) have their own cars. Even though they still cannot afford cars, at least the average Chinese citizen can now enjoy going out to restaurants to eat more often; to have televisions; to have computers; to have cell-phones.

My fear though is that China did not learn from all the mistakes we made here in America during the 50's, when our economic growth was exploding (and was eerily similar to China today). Their cities have become some of the most polluted on Earth. Crime and drugs have alarmingly increased. Government oversight and building codes are subject to pervasive bribery and corruption (sometimes, with the slightest tremor, entire apartment buildings will collapse). Production of consumer goods is shoddy at best. I want to just say, "Slow down China - do it right. In life, it is quality--not quantity--that matters."

So with that in mind, I produced this little video (more just to be humorous than to make a political statement). Check it out:  http://youtu.be/Ougepuj1z9Y
  
Phillip

Bankers and Lawyers and Politicians...OH MY!

Yes, beware Dorothy...the woods are full of them. Years ago I added Bankers to my list of least favorite people. I was reminded again today why that is.  I applied for a rate reduction on my loan. It is now at an unconscionable 7.65%. The going rate these days is under 3%. I have never been late on my mortgage payment. But with the economy the way it is, that might happen in the near future. I really do need some debt relief. So, I was told by my banker that I would have a better chance of getting a rate reduction if I was 3 months in arrears on my mortgage and close to foreclosure. But if I did that, there was no guarantee--- and I would risk losing my home.  IN WHAT UNIVERSE DOES THAT MAKE ANY SENSE!!!?? Evidently, in the upside-down world of banking logic, good behavior is not rewarded.

I told my banker that I was not comfortable following that path, but if I did not get a rate reduction I might be forced to miss some future payments. So, if I could make application and find out in a few weeks (a reasonable amount of time to get most anything done) then I could better plan my future and know which direction to go. He informed me that it would take 3 months to get an answer. Three Months?!!   I have seen entire houses built in 3 months.

Just another example of America drowning in bureaucratic nonsense.