Tuesday 17 January 2012

17 Jan 2012 - Skyscrapers trigger financial crisis?

After reading The Age online today I discovered that some of the world's tallest buildings were completed shortly before a huge financial crash in the region in which they were built. The completion of the Petronas Towers in Kuala Lumpur in 1997 preceded the Asian financial crisis and the Equitable Life Building in New York when completed coincided with a 5 year recession. Other tall buildings and their links to a financial crisis were mentioned and after reading the article all I could think was, whoever performed the study is obviously a genius! I would never have thought to link the two, it makes perfect sense! It makes me wonder what other links we are missing, like the price of fish in China, there is probably a link between that and whether there is Life on Mars! We should spend millions of dollars investigating these and other implausible links. Okay, so I couldn't write all that without cracking towards the end, I apologise!

Seriously though, why did anyone ever decide to study the correlation between the completion of a skyscraper and the start of a recession? Have we really run out of things to study, here I was thinking that we didn't have a cure for cancer, but we must if we are wasting our time studying correlations such as these! The fact that I learnt today was that a few of the worlds tallest buildings were completed around the time of a financial crisis, the lesson I have taken away however, is that we really need to stop wasting our time on useless studies!

If you would like to read the article, it is on The Age website.

Still learning but now questioning whether I really need to retain all the information that I discover!

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