It's Not Just The Poor Who Are Coming To US

In addition to the millions of "illegals" slipping across our borders, there's a few oligarchs trickling in, too:

Pennsylvania is financing various state infrastructure projects by selling residency to Chinese "investors" for $500K each. As it turns out, the practice of pimping passports for Chinese capex is hardly new or just isolated to Pennsylvania and is, in fact, massively widespread throughout America's insolvent states whose tax collections are far below budget and which are in desperate need of fresh funds to embezzle invest in random boondoggles.

Case in point, New York, where the Biggest real-estate project in a generation, the Hudson Yards, is now officially financed by 1200 Chinese families in search of visas allowing them to live (and park their stolen cash) in the US.

According to the WSJ, "Developer Related Cos. says it has raised roughly $600 million from the families to build the foundation for three skyscrapers at the West Side project, a 17-million-square-foot colossus of office, retail and residential space set to open over the next decade.

To finance the concrete-steel platform, Related tapped a little-known and at times controversial federal visa program known as EB-5, which offers green cards to foreign families who invest at least $500,000 in U.S. projects that create at least 10 jobs per investor.

The amount brought in so far, which privately held Related hasn’t previously disclosed, is a record for the cash-for-visa program.

Related’s success shows how the once-obscure federal program has grown in popularity among developers and foreign investors since the recession.

The great news is that, through another loophole in the immigration code, those oligarchs who stole a lot, if not more, and are now terrified to live in their native countries, can purchase a "get out of jail" card from Uncle Sam for a lofty price.

http://www.zerohedge.com/news/2014-12-10/pimping-passports-chinese-capital-americas-ingenious-ploy-raise-capex-chinas-oligrac

Isn't that a hoot? We send all our money to China so they can afford to come here and build their own skyscraper mansions, while more and more of us are living in tents and vans down by the river.

Does that sound like a "recovery" to you?