The fiscal cliff

Date sort Score sort
Uh Dennis, this little cartoon thing explains a lot. The side deal is done through Goldman Sachs. The thing is two years old, but the situation is pretty much the same.


I am afraid we will be seeing price inflation without wage inflation. Unemployment will remain high. This means a radically lower standard of living for most of us.

The social safety net of unemployment and food stamps was meant to be a temporary form of assistance during difficult times. It was intended to tide folks over until the economy got better. But now, we find ourselves in a situation that will not repair itself. It is permanent.

The fed and the treasury increase the money supply to stimulate the economy, but the banks turn around an loan the money out to China and India. They use that dirt cheap money to buy up industries in other countries and then move the manufacturing to their own countries.

The fed and the treasury have stimulated the economies of China and India, not the US.
 
Well, it is your life and your money; invest however you think is best for you.

The real estate market is picking up a little here. People are looking for places to put money into hard assets. Over four hundred repossessed houses were sold a couple of months ago to investors from Canada. It was an all cash deal. That seems to be the case in a lot of sales.

I don't know if Canada is the actual source of the funds or just a conduit for them from another country.

About half the homes in my neighborhood are still empty. We have problems with squatters and vagrants. The one across the street from our house was burned out. So far the Canadians haven't lifted a finger to fix it.
 
rufus said:
Well, it is your life and your money; invest however you think is best for you.

The real estate market is picking up a little here. People are looking for places to put money into hard assets. Over four hundred repossessed houses were sold a couple of months ago to investors from Canada. It was an all cash deal. That seems to be the case in a lot of sales.

I don't know if Canada is the actual source of the funds or just a conduit for them from another country.

About half the homes in my neighborhood are still empty. We have problems with squatters and vagrants. The one across the street from our house was burned out. So far the Canadians haven't lifted a finger to fix it.
Click to expand...

Are you talking about Canadian families buying homes or Canadian companies ?
 
I am talking about Canadian companies buying repossessed homes in lots of hundreds. But the people that come to inspect the properties all seem to be ethnic Chinese. I doubt the original source of the money was Canadian; it was probably just passed through a Canadian Corporation.

Suddenly in 2008 about half the houses here were in repossession. The banks took them back, and they were turned into rentals. Now, I see other houses that we thought were going to be owner occupied, are now vacant and in repossession.

The neighborhood was a pretty solid upper middle class Mexican American neighborhood. Things have really changed. Most of those people have moved on, and now we have people that lost their homes in other neighborhoods renting here. The pride of ownership is really gone.
 
rufus said:
I am talking about Canadian companies buying repossessed homes in lots of hundreds. But the people that come to inspect the properties all seem to be ethnic Chinese. I doubt the original source of the money was Canadian; it was probably just passed through a Canadian Corporation.

Suddenly in 2008 about half the houses here were in repossession. The banks took them back, and they were turned into rentals. Now, I see other houses that we thought were going to be owner occupied, are now vacant and in repossession.

The neighborhood was a pretty solid upper middle class Mexican American neighborhood. Things have really changed. Most of those people have moved on, and now we have people that lost their homes in other neighborhoods renting here. The pride of ownership is really gone.
Click to expand...

Well I couldn't find any information on Canadian companies buying blocks of homes. Do you have a source for this ?
 

Similar threads

C
Help - odd breathing/gasping from female turkey
Replies
2
Views
446
champchamp
C

New posts New threads Active threads

Back
Top Bottom