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I guess those state planners "wealth effect" idea have their merits. Jack up the price, lure foreign capital and local debt serfs into the market. The price keeps going up, we all feel really rich so take a cruise, a holiday, charge up the credit cards... increase consumer purchases.They don't really care how all that's going to end. But that's other people's problems I guess.It wasn't long ago when a $600K brick house on a quarter acre seems a bit pricey. And getting a $400K mortgage makes me sweaty.All those have since double or triple. Costs of living and everything else also goes up. Everything except wages and job security. Can't end well can it?
I guess those state planners "wealth effect" idea have their merits. Jack up the price, lure foreign capital and local debt serfs into the market. The price keeps going up, we all feel really rich so take a cruise, a holiday, charge up the credit cards... increase consumer purchases.
They don't really care how all that's going to end. But that's other people's problems I guess.
It wasn't long ago when a $600K brick house on a quarter acre seems a bit pricey. And getting a $400K mortgage makes me sweaty.
All those have since double or triple. Costs of living and everything else also goes up. Everything except wages and job security. Can't end well can it?
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