China's 'ordinary' billionaire behind grand Nicaragua canal plan

Comments (5)
YesNoMaybeSo wrote:

“The port site is located in the middle of the Crimean peninsula that has been annexed by Russia.” very interesting, have to wonder what part this played in the take over.

May 04, 2014 7:05pm EDT  --  Report as abuse
nose2066 wrote:

The story says that: “Washington consultancy McLarty Associates and law firm Kirkland & Ellis also were contracted.” — The point being that the Chinese construction crews don’t want to be chased out of Nicaragua, the way they were chased out of Libya???

May 04, 2014 9:15pm EDT  --  Report as abuse
Kahnie wrote:

Haven’t they seen the stamp that helped build the canal in Panama (then part of Colombia) and not Nicaragua? Where is Teddy when we need him? Roosevelt that is.

May 04, 2014 9:58pm EDT  --  Report as abuse
Kahnie wrote:

“It’s that simple,” said Wang. “I’m very ordinary.” Sure he is. I’ve got some bridges to see you in NY if you believe that.

May 04, 2014 10:00pm EDT  --  Report as abuse

There is no need for a feasibility study from overpaid consultants with a history of lying to the public and clients to push their projects. Does anyone believe that given the money involved, these “consultants” would tell their client that it does not make sense financially? These are the same people who have bankrupted the global economy and decimated the natural resources of this planet in the name of greed, ego, and power. McKinsey has a TERRIBLE track record in terms of the environment and their economic growth models are based upon pure fantasy, as economic fundamentals show that the global economy is grinding to a halt. There is a paradigm shift that they do not understand.

One does not have to waste time and resources to determine the obvious. The Baltic Dry Index is at record lows, meaning that fewer goods are being produced, which means there are fewer goods that will be transported globally. Even if the economy stays the same (and it will not, regardless of the lies from consultants and “news” organizations), the best case scenario is taking half of the canal traffic from Panama, which will increase the cost of transportation through the canal. The operating costs need to be covered by both countries. Two canals will not make the cost of goods cheaper, especially one with a 50 billion price tag.

And speaking of costs, there is not even enough electricity in Nicaragua to handle such a project. We pay the highest electric rates in the hemisphere and we have power outages frequently. The Nicaraguan government has a stake in the electricity market and has no incentive to reduce the cost of electricity because it profits from the bad service and ongoing rate increases. This is a country that abandoned geothermal because the former energy minister and president read in The Economist magazine that oil would never go above $13 a barrel. This is the short sighted thinking that has destroyed this planet.

There are obvious environmental factors, one being that it is the largest fresh water lake with a dynamic microsystem that will be destroyed by a canal. It will ruin tourism. It will destroy the surf breaks. It will pollute the water. It will destroy the land, all so a few greedy politicians and fiat billionaires with insecurities can pretend to play in the Big Boys Club.

And speaking of destroying the planet, the Fukushima factor has not been calculated. Anyone with a real understanding of the planet knows that Fukushima is a potential Extinction Level Event. There is enough plutonium released to kill every human on this planet. The cores have melted into the earth. It is a crime to report the truth in Japan, but the reality is that the population has been poisoned. There is no solution to Fukushima and the people are dying. The sea is dying. Factor in the Carrington Effect and any fancy consultant with an MBA a should be able to figure out that a life as we know it today changed on March 11th three years ago. There is no more global economy as we know it. It is a house of cards waiting to collapse. Nicaragua should be developing a sustainable country. We are below the jet stream, which mitigates some of the radiation for the time being. Our food is less contaminated. We have a precious body of water. Look at the motives of those who are behind the canal. They do not have Nicaragua’s bests a interest at heart.

Cognitive dissonance will not change anything.

This canal must be stopped before the government wastes one more centavo studying the possibility.

May 09, 2014 12:56am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.