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Thread: Can property tax ease the high housing prices?
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[quote=BOBERT,419093]Dodger, While I agree entirely with your diagnosis of the problem, I disagree with your prognosis. All artificial financial schemes collapse eventually, even the 50 year long American credit bubble finally burst. Bubbles can be created in both free and controlled markets as seen just before the demise of the USSR. Currently the US is doing it's best to export inflation to China by devaluing it's own currency. In effect it's also devaluing it's international debt. The intention is to force China to revalue their currency and reduce competivness. The unintended consequence is to inject far too much liquidity into the property and commodity speculators pockets. You can see the results of that in Tunisia and Egypt where oil and food prices have skyrocketed and brought about revolution. China can never allow that so they must attack all inflation with a vengence. I don't see a crash if China acquiesces and revalues but I doubt that will happen. Nor can I see America surrending it's preeminent economic position. The great economoic battle to the death continues. Americas economy is roughly 3 tmies that of Chinas. The outcome is assured. I give it another year at most. Bob[/quote]
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