Quote:
Originally Posted by Yume-sama
Well, that is slightly problematic. If you want to know what *would* happen if Canada were to see a similar economic collapse, I must say it would be exactly the opposite of what you'd hoped. As has happened every time there is a collapse of a corporation, economy, etc., more foreigners would come in and buy everything up for pennies on the dollar. This is essentially what has happened in many countries (Iceland, Ireland, Spain, Greece, Egypt). Policies from large international groups (say the IMF) create a situation in which there is bound to be a collapse (say, rampant inflation on the price of gas, food, etc. which we *are* seeing), which screws over the local residents, and then foreign powers come in and snap everything up... which screws over the local residents. Foreign banks relished the opportunity to come in to America and buy everything once it was essentially worthless.
So what has happened? Even though house prices are at their lowest, homelessness, etc. has skyrocketed to their highest levels. And home ownership is at its *lowest* levels.
How can that be when everything is so much more affordable?
Basically, the point is you can't damage one sector of the economy without equally damaging every other part of it.
|
So we should really be hoping for a Chinese collapse, so that we have more buying power compared to them?
Anyways, what you say is interesting. It reminds me of what an old Czech friend told me. Shortly after the fall of the Iron Curtain, and while the native Czechs were severely set back after 70 years of communism, it was the wealthy Germans who bought up property and inflated the prices there.
Threaded Mode