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  • Why A New Skyscraper In Saudi Arabia Could Mean Doom For The Global Economy

    From businessinsider.com

    Saudi Arabia is expected to begin work on the Kingdom Tower next week. The building in Jeddah is expected to cost $1.23 billion and stand 3,280 feet tall, according to the Saudi Gazette. That's 568 feet taller than Dubai’s Burj Khalifa. Construction is also underway on Sky City in China, which is projected to be 2,749 feet tall. Sky City is expected to finish before the Kingdom Tower and will for a very brief period hold the title of the world's tallest building. Two years ago, Barclays introduced its Skyscraper Index, which suggests that construction booms, highlighted by record-breaking skyscrapers, coincide with ... (full story)

Two years ago, Barclays introduced its Skyscraper Index, which suggests that construction booms, highlighted by record-breaking skyscrapers, coincide with the beginning of economic downturns.

So lets stop building skyscrapers and never have any more economic downturns.
Or, don't build skyscrapers and never start the bust cycle :-)

Build peace instead.
so the tower of Babels construction was recorded histories first economic down turn?
Skyscratchers doesnt have the same ring to it.
Tracking the Specialists.
Nice one, gp2 ! LMFAO!!
When there is money to burn, people are going to do something stupid with it.
End of boom cycle = plenty of money to waste.
After erecting their structure they go right to sleep
Build a better world instead...don't you think...?
Build a better world ECONOMY instead...don't you think...?
I hate big cities with skyscrapers. Nothing but noise, pollution, traffic jams, nature-less landscape, trash and the smell of it, bums, rats, cockroaches, crime... you name it.
I found a penny today. That's +100 pips for me.
Unreal... the world is collapsing, people starving and these idiots are still trying to see who can build the tallest building? Still measuring sizes I see.
Ghost Rider - WWTBMD?
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It's all EGO, the ego of the leaders who want to be remembered after their deaths.
What is the essence of tall buildings where land is not in short supply? Crazy money creates crazy minds
Quoting albchr
Unreal... the world is collapsing, people starving and these idiots are still trying to see who can build the tallest building? Still measuring sizes I see.
Yeah good point, who's going to fill that building? After the Empire State Building was completed in 1931 (During The Great Depression) it sat virtually empty for quite some time and was nicknamed "The Empty State Building" and didn't become profitable till 1950!
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In so far as big office blocks are concerned, I seem to remember this saying. Offices breed officers, they are like rats. For most professional administrators at the top, the more staff they have under them the better, it makes them feel SOOOOO GOOD.
Quoting irongoose
Yeah good point, who's going to fill that building? After the Empire State Building was completed in 1931 (During The Great Depression) it sat virtually empty for quite some time and was nicknamed "The Empty State Building" and didn't become profitable till 1950!
Well, perhaps we're just not thinking like the ubber rich. (imagine that). At first, it's a huge tax write off. If it stays empty, it's more tax write offs on the loss of investment over some years. Then, if/when things pick up, it's profitable. For those who can afford it, it's a great long term plan.
Ghost Rider - WWTBMD?
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  • Posted: Apr 23, 2014 7:31pm
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 15  /  Views: 8,259