Superman may still be able to jump them in a single bound, but our pal Aeswiren – in honor of today’s opening of the Burj Dubai – has sent us this story about how they may be harbingers of economic disaster.
“Andrew Lawrence proposed the Skyscraper Index in the aftermath of the 1998 Asian Contagion. His theory says that the world's tallest buildings have risen on the eve of economic downturns. That is, countries that put up the world's tallest buildings enter an economic downturn shortly thereafter. There is a lot of evidence to back him up: 1907 panic in the U.S. was marked by the Singer Building; the Great Depression followed the Empire State Building; the Asian currency crisis of 1998 — the Petronas Twin Towers.
The world's tallest building at present is the Burj Dubai, which will officially open on January 4, 2010. As you know, real estate prices in Dubai have been cut in half and their biggest company, Dubai World, just defaulted on $50 billion. The next tallest building being built is The Shanghai Tower in China — expected to be 2,073 feet tall to be completed in 2014.” – From Energy And Capital Newsletter.
The secret word is Flawed
“Andrew Lawrence proposed the Skyscraper Index in the aftermath of the 1998 Asian Contagion. His theory says that the world's tallest buildings have risen on the eve of economic downturns. That is, countries that put up the world's tallest buildings enter an economic downturn shortly thereafter. There is a lot of evidence to back him up: 1907 panic in the U.S. was marked by the Singer Building; the Great Depression followed the Empire State Building; the Asian currency crisis of 1998 — the Petronas Twin Towers.
The world's tallest building at present is the Burj Dubai, which will officially open on January 4, 2010. As you know, real estate prices in Dubai have been cut in half and their biggest company, Dubai World, just defaulted on $50 billion. The next tallest building being built is The Shanghai Tower in China — expected to be 2,073 feet tall to be completed in 2014.” – From Energy And Capital Newsletter.
The secret word is Flawed
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