Thursday, June 12, 2008
Lets sell out...and resuscitate ourselves
I have an answer to the housing crisis which will in turn revive our economy. We need to relax our nation's immigration policy to enable foreigners who want to buy houses do so. Sovereign Wealth Funds and Foreign Corporations want to buy up American companies with abandon, so I don't see why we don't let foreign real estate investors buy up our inventory of houses. This plan should at least stabilize the housing market. The US dollar has been on a free fall trajectory for many years now (in fact, if you overlay the chart of the dollar to the Ancient Roman currency, it bears a scary resemblance, and we all know what happened to the Roman Empire), making US assets extremely cheap for foreigners. Our government should put a relaxed immigration policy for the benefit of housing in place BEFORE we decide to intervene and support the dollar.
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