It was the ghost cities that first started on Chinese inefficient use of capital then it migrated to Shadow banking. Collapsed in IOP last year was the lagging confirmation. Domestic hot money only have a few homes predominantly stockmarket or Retail property. Real estate tapered off the the flow of funds to Shagcomp then the smart money cleared out and went back property as indicated by a mini rally in prices. Oh, besides money flowing out as an each way bat just in case there are political/socio problems domestically.
Not just stand back and watch all the buy stops taken on the Dow/SP500index traders. I never understood why a gold rally cannot exist in tandem with an appreciating stock market?
gold, page-210
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