Friday, March 05, 2010

Oh well

"Signs of exuberance are everywhere. An investor in Shanghai recently bought 54 apartments in a single day; a villa sold for $30 million last year; and in December a consortium of developers paid more than $3.5 billion for a huge tract of land in Guangzhou, one of the highest prices paid for any property, anywhere. In the city of Tianjin, in north China, developers have created a $3 billion "floating city," a series of islands built on a natural reservoir, featuring villas, shopping malls, a water amusement park and what they say will be the world's largest indoor ski resort."

From today's New York Times. If my memory serves me right, the last place that built the world's largest ski ramp was...surprise..surprise...Dubai! The last place that built a "floating world" was...surprise..surprise...Dubai!

The eternal optimism of humanity. I read somewhere that the only ones who perceive odds realistically are the chronically depressed. However, without this optimism we wouldn't have airplanes or computers or space missions. See, we would rather try and fail than fail to try.

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