Comments by "Daniel Bradford" (@Falconlibrary) on "China's Mortgage Crisis, Banks are Failing, Protests Everywhere. China's financial crisis is Here..." video.

When I lived in California, it was quite common to see Chinese nationals overpaying for houses and condos as a way of "stashing" their money overseas. They don't rent the properties, because that would generate an income from a foreign source and alert the CCP that they've moved the cash abroad. Think of these Chinese-owned properties in California and in Canada's major cities as a combination piggy bank/life raft. My landlady in Oakland, a Chinese national who became a naturalized US citizen, knew of thousands of Chinese hiding in the Bay Area who had overstayed their tourist visas. They were silent all-cash partners in restaurants. The Chinese people are afraid of their own government, which punishes them for having money and doing well in business. There's nothing comparable in the USA, despite many rich people's tales of woe and oppression by being forced to pay 27% of their income to taxes--they don't reasonably fear having everything confiscated by the government, but it's that justifiable fear that drives the Chinese to act this way. And fear, as we've learned throughout history, is the very worst motivator for human behavior.
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