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DailyWealth – December 15, 2009
The Skyscraper Curse
By Tom Dyson
The “skyscraper curse” has struck again…
Every time a country builds the world’s tallest building, it seems their stock market crashes soon afterward. It happened in America before the Great Depression. Architects unveiled two awesome new skyscrapers – the Chrysler Building and the Empire State Building – just as the worst bear market in America’s history was getting started. There was another bear market in the 1970s. The stock market lost 75% of its purchasing power in a decade. The completion of the Sears Tower in 1973 marked a two-year, 45% decline in the Dow. In 1997, Malaysia’s Petronas Towers took the title of the world’s tallest building from the Sears Tower. The same year, the Malaysian stock market fell 50%. Most recently, the curse struck Dubai. The Burj Dubai became the world’s largest building last year. Now Dubai is close to bankruptcy, and its stock market has crashed.
Famous speculator Victor Niederhoffer says mankind has a tendency to build high before a fall. He devotes a chapter to this tendency in his second book, Practical Speculation. One example Niederhoffer cites is the Nasdaq’s MarketSite tower, which featured the world’s largest video display on its facade. The building was completed in December 1999, three months before the Nasdaq composite crashed 70%. Enron is another example he uses. Enron was halfway into construction on a $200 million, 40-story skyscraper, with an eight-story trading floor when the company collapsed into bankruptcy in 2002. …
South Korea’s stock market could be in danger. The Koreans are building the world’s tallest twin skyscrapers, the Incheon Towers, scheduled for completion in 2012. And the country will also get a building that’s going to be taller than the Shanghai Tower. It’s scheduled for 2015.




December 18, 2009
God’s main issue with the tower of Babel was that it was an attempt by man to build a society without Him. That’s sheer folly because it denies a fundamental tuth about our reality.
Since the deceptively named “enlightenment” babel builders have been trying to repeat the disaster. Locke’s philosophy of rule by consent of the governed which is the basis of the US constitution is the current paramount example of building a godless society.
We can see the US is following the route of babel too. Americans are talking to, and yelling at each other, but no one is really listening. It’s as if they speak in foregin tongues to each other.
February 9, 2010
The philosophy of Locke for America was and is actually an example of a Godly society. The Enlightenment in America was a way of instituting the Declaration, the Constitution, and elements that would mitigate power otherwise concentrated in one religion or tyrant. It’s ironic that the more tyrannical areas such as Dubai, who take away individual rights on a whim, are the ones now building the tallest buildings and the ones that want to destroy them on a whim, anyway, are despots like Bin Laden.