You have to love the idea of prescient symbolic warnings of our imminent demise. For example, the doomsday clock – that symbol established in 1947 by scientists predicting a nuclear catastrophe – which has now moved one minute closer to midnight, signalling the end of the world. How does that committee convene to spread their message of fear? Is there a lunch before, a deli tray, perhaps cocktails?
Anyway, the latest physical barometer that analysts use for global ‘health,’ is the skyscraper. An interesting article in the BBC recently pointed out that the bigger they are, the harder and sooner those economies fail. Examples include the Empire State building (heralding the Great Depression), the Sears Tower (mid-70s oil shortage) and more recently, the Burj Khalifa, in the crumbling economy of Dubai. It’s not surprising that China and India are now at the forefront of the new, skyscraper building boom. But, what does this tell us?
One analyst from Barclays Capital had this to say: “Often the world’s tallest buildings are simply the edifice of a broader skyscraper building boom, reflecting a widespread misallocation of capital and an impending economic correction.” The key word there is miscalculation. With the Chinese currently building more than half of the world’s tall buildings, this might be an unpleasant foreshadowing. Can you say bubble? Nonetheless, you can’t stop the egocentric reach of humans in their collective quest for giant urban phalluses, can you? Only time will tell.
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The Towers of Doom?
You have to love the idea of prescient symbolic warnings of our imminent demise. For example, the doomsday clock – that symbol established in 1947 by scientists predicting a nuclear catastrophe – which has now moved one minute closer to midnight, signalling the end of the world. How does that committee convene to spread their message of fear? Is there a lunch before, a deli tray, perhaps cocktails?
Anyway, the latest physical barometer that analysts use for global ‘health,’ is the skyscraper. An interesting article in the BBC recently pointed out that the bigger they are, the harder and sooner those economies fail. Examples include the Empire State building (heralding the Great Depression), the Sears Tower (mid-70s oil shortage) and more recently, the Burj Khalifa, in the crumbling economy of Dubai. It’s not surprising that China and India are now at the forefront of the new, skyscraper building boom. But, what does this tell us?
One analyst from Barclays Capital had this to say: “Often the world’s tallest buildings are simply the edifice of a broader skyscraper building boom, reflecting a widespread misallocation of capital and an impending economic correction.” The key word there is miscalculation. With the Chinese currently building more than half of the world’s tall buildings, this might be an unpleasant foreshadowing. Can you say bubble? Nonetheless, you can’t stop the egocentric reach of humans in their collective quest for giant urban phalluses, can you? Only time will tell.
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Filed under Commentary, Economy
Tagged as Doomsday Clock, Physical barometer, Skyscraper