lifetime PS3 and 360 sales

lifetime PS3 and 360 sales
After a slow start, Sony's PlayStation 3 has closed the gap on Microsoft's Xbox 360 - global PS3 sales are 47.9 million and Xbox 360 sales 50 million.

Agonisingly close, but what will it mean if Sony overtakes Microsoft? Are we tantalisingly close to declaring a winner?

"A winner was declared over a year ago, the Nintendo Wii," retorted EEDAR analyst Jesse Divnich to Eurogamer.

"But if we are talking about the PS3 vs. Xbox 360, it wouldn't be appropriate to declare anyone the winner.

"Both have an incredibly active install base, both are delivering large profit potential to the third-party, and both have a long life ahead of them.

"I believe that five years from now, when all the numbers are in, both Microsoft and Sony will still be arguing the results," Divnich prophesied. "One will claim they sold more hardware, the other more software. One will claim more registered online accounts, the other more active online accounts. It is a debate that will frankly never be settled."

The Xbox 360 launched at the end of 2005; the PS3 roughly a year later (Europe had to wait until March 2007). Xbox 360 had a clear early lead, but following the launch of the PS3 Slim in 2009, Sony's numbers revved. Kinect has bolstered Xbox 360's Christmas and early 2011 sales, but whether Microsoft can stave off PS3 looks increasingly unlikely.

"I certainly don't care who wins," declared Wedbush Morgan analyst Michael Pachter to Eurogamer.

"PS3 appears to have made a lot of headway in regions where Microsoft hasn't [Sony's] outsold Xbox 360 by 4.5 million in Japan and are about even in Europe - but they are almost 10 million behind in the US."

"My guess," he said, "is that [Sony] continues to outpace Microsoft in Asia, the Middle-East and Africa; continue to track relatively even in Europe, and probably continue to lag slightly (within one million) annually in the US. The two consoles should end up around even in a couple of years."

Billy Pidgeon, M2 Research analyst, reckoned "Sony is likely to maintain market dominance in these regions [EMEA] while working toward closing the gap in North America". And while Pidgeon noted the Kinect-powered Xbox 360 upsurge, he also said "PS3's brisk sales are somewhat more significant, as Xbox 360 has hit saturation points in North America while Sony is still building in".

With this generation shaping to last longer than those before it, the battle between Sony and Microsoft will rage for years. Exactly how long we don't know; Sony's stuck firmly to a 10-year vision for PlayStation 3, and Microsoft has warbled on about Xbox 360 only being mid-way through its life.

But, of course, it's Nintendo that leads the seventh generation of consoles with 84.6 million Wii sales.

Nevertheless, the feud between Microsoft and Sony spells only good things for you and I.

"As long as there is a battle there will be good things in store for consumers," asserted Pachter. "We've had at least a dozen models of PS3 and 360 combined, and it is likely that more models are coming.

"We haven't seen the level of price cuts that we expected, so there is room for both consoles to come down another $150 in price over time.

"That's the biggest lever left for Sony and Microsoft, and I expect each to strive to finish ahead of the other. The first one to cut price is the one who cares about winning more."

With those price cuts comes "a better opportunity to increase the base of console gaming" around the world, Pidgeon said.

Numerous developers spoke out recently about the onset of new consoles, not that any have been announced - not even a Wii 2, despite our best efforts to predict unveilings each summer at E3.

THQ core games boss Danny Bilson said a new generation now would be "horrible", and Irrational Games creative star Ken Levine has "no desire" for new machines. Why should they want new consoles? They have efficient and established engines and tools to use to build their games. This latter half of the generation could be a period of creative flourish.

Those tools help multi-platform games be barely distinguishable on PS3 and 360. The next big battle, said Pidgeon, will be fought between PlayStation Network and Xbox Live.

"Online session frequency and length on Xbox Live and PlayStation Network are more important factors this cycle," said Pidgeon. "Where gamers play more online, sales of third-party software for that platform will increase.

"Xbox Live has been dominating online gameplay but PSN is gaining ground steadily, and Microsoft should not take the online lead for granted.

"Neither should Sony neglect to push for steep growth in PSN usage."

The gap between the two online services has noticeably closed. PlayStation Home wasn't the be-all-and-end-all as Sony had forecast, but it's a stable and impressive achievement now nonetheless. Sony also now has a subscription service for PSN called PlayStation Plus, although everyone with a PS3 can play online-enabled games free of charge, unlike on Xbox 360. The amount of content added to PSN has also rocketed up. Today's PlayStation Store update is perhaps the busiest we've ever seen it

from - http://www.nextgenupdate.com/forums/xbox-360-general/315401-analysed-lifetime-ps3-360-sales.html

Megan Fox and Rafael Nadal Get Sexy in New Armani Jeans Ads

Megan Fox and Rafael Nadal Get Sexy in New Armani Jeans Ads
Just when we thought that Megan Fox couldn’t get any hotter, the face of Emporio Armani Underwear and Armani Jeans brings in a new shirtless accomplice. Tennis pro Rafael Nadal (below) mirrors Fox’s steamy pose in his own ad for the brand’s jeans line for the Spring/Summer 2011 campaign,



 shot by Mert Alas and Marcus Piggott. Fox has already become a seasoned pro with Armani, previously heating things up with soccer star Christiano Ronaldo, but the steamy shots mark Nadal’s debut with the brand.Tell us: What do you think of Fox and Nadal’s campaign? —Kim Peiffer

Marketing Strategy for Thriving in a Bad Economy

Marketing Strategy for Thriving in a Bad Economy
There’s no denying the last 2 years have been extremely difficult time for both individuals and corporations. Companies have scaled back their marketing strategies in an effort to save money. Lean organizations have turned to new marketing strategies, such as social media, to help them do more with their reduced resources

Business Professionals Can’t Live Without Sex or Smartphones

Business Professionals Can’t Live Without Sex or Smartphones
Smartphones tied with sex as the number one thing that business professionals can not live without in a study from cloud-based business phone system provider, RingCentral. In a survey among RingCentral’s small to medium-sized business customers in the U.S., the importance of the smartphone in daily and business life was reiterated over and over again.

The study, which surveyed nearly 400 customers, showed that smartphones are taking on the defacto role in business communication.
Here are some highlights:

• Smartphones and intimate relationships tied at 40% for the number one thing respondents can’t live without.
• 79% of respondents use their smartphones to conduct most business calls, versus an office phone or home phone.
• 34% use a smartphone more than a computer for business. 7% even said they don’t take their laptops with them when they travel for business if they have a smartphone.
• 48% of respondents said that at least two-thirds of their phone communication is via smartphone.

None of this data is particularly surprising, except for the shift to using a smartphone as a primary business device. Thanks to platforms like Android and the iPhone, you really can do a lot of work from your mobile device.
It will be interesting to see how tablet devices like the iPad will be used for business and how those devices will be classified.
How has having a smartphone changed (or not changed) how you conduct business? Let us know.

from - http://mashable.com/2010/04/13/ringcentral-survey/

Economic bubble management: Is it worth the effort?

Economic bubble management: Is it worth the effort?
train wreck. However, Vermont missed out on any part of the boom. Is the trade off worth it?
That’s a question that continues to rattle around in my head following a Wall Street Journal story on Tuesday. The story detailed how some Vermont home buyers weren’t able to get credit due to the state’s mortgage laws. In the 1990s, Vermont pass laws that made mortgage lenders warn consumers about high rates and put brokers on the hook for defaults.
Given those laws it’s not too surprising that lenders didn’t give credit to just anyone. And that means some creditworthy buyers were locked out. The Journal notes that Vermont’s 10-year growth trails the U.S. average.
Today, Vermont’s move looks like a no-brainer, but how many folks would be able to curb growth to avoid a car wreck that may not come for decades?
It’s a question worth pondering since the U.S. is likely to launch a bevy of regulations to prevent bubbles in the future. Regulation will curb future growth, but keep bubbles from popping in the future. Call it bubble management if you will. Is this approach worth it?
Vermont certainly thinks so. Politicians are trumpeting success. Critics detail their views in this key excerpt:

Vermont politicians are “patting themselves on the back because we saved ourselves from this catastrophe,” said Joel Schwartz, director of the economic development office for St. Johnsbury, a town in northeast Vermont. But developers and others “can’t march into the state and start doing business.”

In any case, the debate over bubble management is likely to intensify. After all, the time for regulators to strike is now. Once the next bubble gets going, there’s no way that  legislators will have the guts to put the brakes on an economic growth engine—even a fleeting one.
Should we try to prevent and actively manage potential economic bubbles? Is it even possible?

from - http://www.smartplanet.com/business/blog/smart-takes/economic-bubble-management-is-it-worth-the-effort/291/

new portable entertainment technology

This summer, drive your kids to distraction with the latest in travel entertainment technology. Portable DVD players, MP3 players, headphones and add-on LCD display screens make summer car trips more peaceful. Philips Electronics has an extensive line of portable entertainment systems designed to go wherever you go.

“Philips offers a wide variety of portable entertainment options for as little as $49.95 that are perfect for families on the go,” says Court Elliott of Philips Electronics. “With Philips technology in hand, music and movies can easily move from the house to the car, and into the cottage. Our leading edge design provides top quality sound, function and reliability.”

Not just for long car trips, Philips portable speakers and iPod docking entertainment systems deliver exquisite sound quality for those summer parties, whether they're indoors or outside. Philip GoGear audio and video players also offer weekend warriors a seamless escape, leaving listeners to enjoy tranquility or seamlessly manage their content from up north or in transit.

Of course every portable device needs to recharge and packing all those different chargers can be a hassle. The solution can be found in a universal USB charger, a unique hybrid product that allows portable electronic devices to be conveniently charged by a single charger, or re-energized by a handy back-up power pack.

And to keep your gadgets going on those super long trips, you can get up to 60 hours of back-up energy from a unit barely bigger than a deck of cards. The rechargeable power pack will energize all your portable electronic devices – even your laptop – without having to plug it in. It's compatible convenience for the wise weekender

Junk food delicious Are there Really Any Junk Food ‘Value Meals’?

If you want to eat a delicious organic Fuji apply you might have to spend around 75 cents. However, commonly value meals are provided at the cost of merely 99-cents. The cost of the food itself might be only 24-cent if general expenses are considered. If a big delicious Fuji apple cost 75 cent how is it possible to provide a whole meal at the cost of only $99 cents.
How is it possible to sell a meal for less than a dollar knowing that providing the meal carries various expenses like; ingredient, table & chairs, wages for cooks and servers, refrigeration equipment, restaurant rent, advertising and utility bills?


The real question is, how is it possible to sell wholesome food at 99 cents while equally generating a profit?
In America nearly 70 percent of the population is overweight. Other developed countries are also slowly adjusting to the trend. There are hundreds of junk food dealers like Pizza Hut, Mars, McDonald’s, Coca-Cola and Kraft, which are selling foods to attract customers. Humans are genetically programmed to consume delicious food and junk food has captured this unique feature of having a nice flavouring taste.
Humans are genetically programmed to store fat. In the past, our predecessors lived under periods where they were exposed to famine. Those people who had the best ability to store fat were those who survived. This is why our genes have this inherited ability to save food when there is a surplus of food available. This is why junk food is a problem to society. It is cheap and available in quantities. Moreover, carbohydrates of junk food are easily changed and stored as fat. This is why an increasing number of people are obese and children are now suffering from Type II Diabetes.
In other words, those commercial deals entitled value meal are causing damage to our body. They are also triggering premature death, not directly from the food but from pathologies that develop with time after consuming junk food.
Additionally, food dealers have found that people are effortlessly addicted to sugars as well as simple carbohydrates. So marketers find simple but tasty food solutions for customer. They are not necessarily healthy but rather tasty. This is why there is an increasing volume of junk food on the market.
In fact, the “value Meal’s” that is being sold by various food dealers do, in reality, poison our body. Companies claim that they are providing great affordable products; however, what’s really in the food is another question

economic Korea Grappling With Financial Bubble

By Frederic Neumann
Chief Korea Economist at HSBC

The last ten years or so were a bit of a roller coaster ride for the Korean economy as one financial bubble succeeded another with almost predictable frequency. First, in the run-up to the Asian crisis in 1997, the country’s conglomerates splurged on foreign debt, leading swiftly to a collapse of the exchange rate as capital fled the country.

Then, after two short years, technology stocks became the next big hit, with the Kosdaq scaling unheard of _ and since unseen _ heights: remember the good old days when the index was trading at over 2,600?

Even as tech stocks were losing their appeal, another bubble began to emerge. When Koreans discovered the joys of credit cards, spending soared along with household debt.

This bubble only popped in 2003 when the authorities put their foot down, in the process cooling consumption growth for years to come.

Yet, the bulls were not easily cowed. After a couple years of rest, they moved on to real estate. Especially in 2006, property became red hot, seemingly defying gravity in some of Korea’s posher neighborhoods. As apartment prices are now easing in response to policy measures, one might reasonably ask, where the stampede is headed next.

Clearly, predicting the next bubble is an almost impossible task. Even if there are signs that savers are increasingly parking their cash in foreign equity funds, for example, it is too early to tell whether this trend will persist, let alone approach bubble dimensions.
Korean stocks have also done well in recent months, and there is always the chance that property speculation might re-ignite. Recent history, in any case, suggests that the next bubble is still some time away, given that these events seem to reoccur with an uncanny regularity every three years.

Apart from spotting the next big thing, one interesting question is why such bubbles have developed repeatedly over the last few years. Here, the views differ substantially, with some observers blaming excessively loose monetary policy while others suspect a cultural penchant for punting.

But, there is no single reason that might explain the regularity of Korea’s bubbles. Rather, a combination of factors provides an environment where such events can occur, not all of them being specific to Korea.

First, it is important to recognize that Koreans were not the only ones experiencing financial bubbles in recent years. The boom in technology, for example, and the recent surge of real estate investment occurred on an almost global scale.

Observers often point to the physical integration of international capital markets, which can raise the correlation among asset prices all over the world, as the reason for the synchronization of financial cycles.

However, a much more intangible factor may also be at work: Koreans, as much as anyone else, may be vulnerable to psychological spillovers as investment fads spread across the globe.

Second, loose monetary conditions indeed helped to drive up asset prices. Certainly, the Bank of Korea kept interest rates relatively low to help the economy come to terms with the consequences of one bubble, thereby inadvertently fueling the next.

But, to lay blame purely at the door of the central bank would be misguided. Monetary conditions internationally have been rather loose over the last several years.

There are many reasons for this, including Japan’s desperate attempt to re-inflate its economy and the purchase of US treasury bonds by Asian central banks.

The Bank of Korea, therefore, had little scope for tightening the screws single-handedly: higher interest rates would only have served to attract capital, rendering the country’s currency itself a speculative asset.

Third, Korea’s financial markets remain relatively underdeveloped. As the country’s households rapidly built up their wealth especially over the past twenty years, the financial industry, for various reasons, did not keep pace.

The relative lack of financial products to recycle these massive funds, therefore, led to the periodic boom in certain financial assets, or to the excessive use of alternative forms of borrowing such as credit cards and foreign bank loans.

In this sense, Korea’s bubbles are less a product of an alleged cultural trait of financial frivolity but a by-product of the ongoing development of the country’s financial markets.

Will a new bubble emerge in Korea at some stage? Recent history certainly suggests that it might, although its exact form is hard to predict.

There are, therefore, two fundamental questions facing policy-makers.

First, should they care that asset prices periodically come under speculative pressure or that borrowers might occasionally splurge on new-found sources of cash? And, second, what can officials do to prevent financial bubbles from developing in the first place?

The first question is harder to answer than the second. Even if the bursting of bubbles can have severe macroeconomic consequences, this is not necessarily a justification for regulators to always step into the fray.

Apart from the technical difficulty of telling a speculative bubble apart from a sustainable rise in asset prices or the opening of new channels of finance, markets should generally be left to operate relatively unencumbered as the natural rise and fall of prices provides valuable signals to economic agents.

Of course, excesses can be harmful, but this does not always imply that government action is necessary. The return to earth of the Kosdaq index in 2001, for instance, left the wider economy relatively unscathed.

The second question is in many ways more relevant for Korea today, as the property frenzy has already been brought under control and the next big financial bubble has not yet formed.

The various factors contributing to the periodic occurrence of bubbles in Korea listed above suggest that the ability of Korean policy-makers to prevent another one from emerging is relatively limited.

Loose monetary conditions internationally are beyond their control, and aggressive tightening domestically is inadvisable in a world of great capital mobility. Also, the authorities appear ill-prepared to counter the spillovers of global investment fads.

But, this does not mean that Korean officials are entirely powerless. What does matter is a smoothly operating financial system to prevent some of the excesses forming in the first place.

By offering a wider range of investment and financing alternatives a mature financial system becomes relatively more immune to the possibility of bubbles and more stable should financial excesses threaten to unwind.

In this regard, plans by the government to push through the Capital Markets Integration Act are a step in the right direction. But, it may take some time before the financial system in Korea can adequately serve the needs of its citizens and corporations.

Luckily, the authorities have about three years ahead of them to implement reforms before the next bubble strikes
from -http://www.koreatimes.co.kr/www/news/biz/2008/04/128_4703.html

NexGenGRAPH is a basic graphical

NexGenGRAPH is a basic graphical library specifically designed for embedded environments. It performs common graphical operations, such as plotting pixels, lines, boxes, and circles, and drawing bitmaps and images. To enable displaying customisable fonts, a font manager is provided.

To support different screen resolution modes, NexGenGRAPH relies on a video driver. It manages the graphical controller and the frame buffer, using the common functions offered by the library. Accelerated operations are supported on case-by-case basis, depending on the video controller features.

NexGenGRAPH exports all its dependencies to NexGenOS®, including the input drivers, and can thus easily be ported to a new architecture simply by writing a new video driver.

NexGenGRAPH also includes GIF and JPEG decoders that process the image decoding on the fly. This feature is particulary useful

economic bubble theory

foam to describe an economic entity rapid prosperity for some time, and then sharply rise and fall of the changes can be quite appropriate. Nature of the bubble occurs quickly, more quickly shattered. A drop of soapy water, breath can blow a dazzling eye-catching bubble. But did not last long, the larger the bubble, burst faster. Under normal circumstances, people bubble economy as a synonym of false prosperity. Like a soap bubble, there seems colorful, but there is no containing the middle, once the bubble burst, boom, like a sudden dream disappear as the replacement.
published by Palgrave in 1926 in the English dictionary definition of a bubble economy: “Any highly speculative bad business behavior.” This seems clear enough. Thus, in 1987 edition of the Palgrave Dictionary of Economics, quoted a famous economist, the former president of the American Economic Association Kindleberger (C. Kindleberger), then re-definition of a bubble economy: “the term bubble state, random point that is one or a series of assets in a continuous process of sharply rising prices, the prices start rising prices make it even produced the expected, so he has attracted new buyers – who generally just want to make a profit through the sale, but The use of these assets and their ability to generate profits is not interested. With the expected downturn in prices often, followed by the price drop, and finally end the financial crisis. usually 'boom' time longer than the bubble state, prices, production and profits increase is relatively modest number. that they might then is to fall (or fear) in the form of crisis or prosperity faded to an end rather than a crisis. “[1]
in modern economy, people are far less than the exchange of specific goods in exchange for some symbols, such as currency, stocks, bonds, foreign exchange, futures, options contracts, checks, money orders and so on. Peter Drucker (PeterDrucker) said: “capital mobility, currency exchange, financial and other signs the economy from products, services and other real economy out of a fully independent.” “This is one of the most striking changes but the hardest to understand.” [2] Because fewer opportunities for industrial investment, return on investment is relatively low, while the rate of investment return of financial assets is relatively high. In the false lure of high rates of return under a lot of money in the economy, ineffective idle symbol does not constitute real growth. With the real economy is not directly related to the proliferation of funds of Ling Yu, the real output and departments in response to lack of funds and the gradual decline, which Jiushi often been said of the economic bubble Huahuochanye hollowed out.
2, the bubble does not mean the bubble economy.
booming economy will inevitably produce some foam. Like a mountain stream, water fast, inevitably aroused some of the bubble, but it does not thereby determine the water quality of streams what changes have taken place. Stream of bubbles and soap bubble blowing different. Stream water drinkable and soapy water is entirely impossible. Different water quality need to use different treatment methods.
bubble refers to the process of economic development imbalances often occur. Together these imbalances is the up and down the concrete representation of the economic cycle. Bubble economy, while others refer to as economic speculation, which led to the phenomenon of market price fluctuations. Because the causes of the two different damage caused by different solutions to this problem is different, so distinguishing the bubble economy and the economic bubble is not a simple word game. If you do not clear the distinction between the two, it is easy to real bubble economy and the general confusion of the economic bubble is often said, is not conducive to recognize the bubble economy, and to take corresponding countermeasures.
from the supply and demand point of view, in the normal market mechanism, price increases will inevitably lead to a drop in demand. However, when the onset of the bubble economy, on the contrary, the more prices rise, demand for the more prosperous, to buy up not to buy off. This is to determine whether the bubble economy, an important indicator identification.
bubble economy will result in volatility in some commodity prices, but the converse is not necessarily correct. Not according to some commodity price inflation fall to determine the bubble economy. Price changes caused by many reasons, the bubble economy is only one of them.
between the economic bubble and the bubble economy, the main difference is: the market mechanism will play a check and balance the economic bubble, the bubble growth rate regardless of speed, the ultimate effect of the market mechanism is always a balance, but the market mechanism of the bubble economy was completely helpless, because in the bubble economy that does not exist in equilibrium.
Third, the economic cycle and the bubble economy
in any economic system, there will be fluctuations in economic operations. In some periods, economic growth has accelerated, there prosperity, in other periods of economic recession, stagnation or recession, a cycle, which is often said that the economic cycle. Periodic fluctuations in macroeconomic and social development of the basic law.
source of cyclical fluctuations generated a social aggregate supply and aggregate demand contradiction and unity of two opposites. Government plans due to market expansion, or expansion, making the social demand and social needs of large industrial production rose led expansion. Because in the modern industry that exists between the various departments in close contact input — output, demand growth was progressively enlarged to form the multiplier. This often shows a sudden jump expansion expansion, leading to large-scale investment peak. Large-scale industrial investment, in turn caused a more dramatic expansion. The economy as if the engine starting up, like, and faster. [3]
in the process of economic development balance between supply and demand is temporary and relative; imbalance is often absolute. Economic development is not balanced state from a non-equilibrium state to another movement. In natural dialectics called “wave-forward” rule. [4] Cycle reflects both supply and demand within the system of self-regulation process of the unity of opposites. Impossible and unnecessary to eliminate fluctuations in the economic cycle. If volatility is too large or the frequency too high will cause a larger economic losses. Economic fluctuations, is not conducive to developing a long-term investment plan, a considerable part of the means of production can not be fully utilized, is not conducive to raising labor productivity and efficiency in the allocation of resources, shortage of many products 1:00, 1:00 backlog of unmarketable, causing serious waste. Volatility in economic and political stability and also affect people's lives, resulting in a series of social problems. Therefore, governments around the world regard the stability of macroeconomic policy as an important goal
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Fears China's economic bubble may burst

By China correspondent Stephen McDonell

China's prosperity has huge future impacts for Australia's economy, but there are now fears the economic giant has developed a bubble economy.

Chinese growth rates of 8 per cent and up in recent years have powered Australia's resources export boom.
But more and more economists are worrying that China has developed a bubble economy and the bubble could soon burst.
One of the key indicators they are looking at is the real estate market.
From the roof of the Shanghai skyscraper known as the Bottle Opener, the view is something to behold.
We walked up through a series of trapdoors and ladders and emerged on top of the highest building on the Chinese mainland.
From here when you look out over China's sprawling financial capital it would seem that this country's building boom could go on forever and drag the Australian economy along with it.
But there are fears that property speculators chasing quick profits are creating a real estate bubble.
On the top of the Bottle Opener we meet Michiho Kishi from the Japanese company that built the tower, Mori Building.
Mr Kishi believes the residential sector is partially a bubble economy.
"The current situation I can say is partially a bubble, partially there's a real economy," he said.
"Especially the residential market seems part of the bubble economy. Because now real demand for the people living in Shanghai. They can't afford their residence to buy - especially younger people, the people to be married. It's getting difficult for them to find houses for them to live."
The Chinese Government is also worried about this and is now capping prices and making some building loans harder to get.
But this theory that China is facing serious overcapacity problems goes beyond real estate.
Professor Michael Pettis lectures at Peking University:
Professor Pettis says China's understandable efforts to try and shield itself from the world economic crisis with a massive stimulus package may end up making its situation worse.
"Many people believe that we've reached a point in China where we're producing stuff or investing in infrastructure that is not economically viable; that in the future we're still not going to be able to use this stuff and we're still going to have to pay for it," he said.
"And when that happens that will exchange future growth in exchange for the growth that we got today.
"What we've seen in the last year has been a very robust reaction to the contraction in the export sector and to the threat of rising unemployment."
Professor Pettis says China entered the global financial crisis with an investment rate that was probably much too high.
"The economy was way too heavily dependent on investment. And because investment rates were so high there's a very, very strong reason to believe that a lot of this investment is being wasted," he said.
"So in reacting to the crisis they increased the level of investment and they made it much, much easier for investment projects to raise capital.
"Almost certainly one of the consequences will be that even more of this investment is going to be wasted. A lot of money is going into projects that have a negative economic value.
"All that money has to be repaid at some point in the future. So what you're doing is you're taking future growth and moving it forward. And you may be doing it very inefficiently."
When talking specifically about fears of a real estate bubble bursting there is probably nowhere that indicates it that more vividly than Kangbashi in Inner Mongolia.
This brand new city has been constructed in the desert because in China it has been ridiculed as a "ghost city".
There are rows and rows of new apartment blocks with nobody living in them. The odd car drives down the road. And there are no problems getting a seat at one of the few restaurants that has bothered to open up.
They are building a huge new theatre, museum and library but with barely a soul available to use them.
This may yet prove to be a bold piece of future planning which is yet to reach fruition as China once again confounds the critics.
Then again it might turn out to be the massive white elephant that marked the turning point for the once unstoppable Chinese economy

from -http://www.abc.net.au/news/stories/2010/05/19/2903142.htm

Pets4You.com is all about pets, all pets

Find pets for sale, pertinent helpful pet knowledge on selection and care. View lots of pet photos and talk to breeders. Enjoy, pet classifieds, pet photos and pet articles. Adoptions, Pet Rescues and Shelters.
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Bubble economy - Definition

An economic bubble occurs when speculation in a commodity causes the price to increase, thus producing more speculation. The price of the good then reaches absurd levels and the bubble is usually followed by a sudden drop in prices, known as a crash.
Economic bubbles are generally considered to be bad things because they cause misallocation of resources into non-productive uses. In addition, the crash which follows an economic bubble can destroy a large amount of wealth and cause continuing economic malaise as was the case of the Great Depression in the 1930s and Japan in the 1990s.
Another important aspect of economic bubbles is their impact on spending habits. Participants in a market with goods that are over valued e.g. the housing market in the United Kingdom, Spain spend more because they "feel" richer.
When the bubble occurs in equity markets, it is called a stock market bubble. It is usually very difficult to differentiate a stock market bubble from an ordinary bull market until it is over.
The cause of bubbles in some dispute. Some regard bubbles as related to inflation and thus believe that the causes of inflation are also the causes of bubbles. Others take the view that there is a "fundamental value" to an asset, and that bubbles represent a rise over that fundamental value, which must "inevitably" return to that fundamental value. Finally there are xaotic theories of bubbles which assert that bubbles come from particular "critical" states in the market based on the communication of economic actors