183
Canada likely sitting on the largest housing bubble of all time: Strategist - BNN Bloomberg
(www.bnnbloomberg.ca)
this post was submitted on 23 Aug 2023
183 points (96.0% liked)
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Insurance can collapse and their owners die in an alley. The mistake in 2008 was to save their asses. In early xxth century they would have. Now we pay them billions so they would have the courtesy to retire.
Also congratulations on discovering about how fucked up a free market is for things people need to live. Housing should not be a market.
You don't care about selling houses. Their purpose is to shelter people, not to be sold on a market.
The sooner the market crash to oblivion, the sooner people can actually live there. A government has the power to say no to bank and insurance shitters. You don't actually have to pay them your right to live. The society doesn't have to comply to every desire of these shitlords.
Yes, the economy would collapse. That would be for the best if you take care of the things that actually mater : house and food.
But I have no illusion about this kind of event happening in America. You guys are too hard into the free market and your capitalist overlords.
Island defaulted on its debt in 2008. Island is still there with us. It wasn't the end of the world even it there were tough times.
Now you can have tough times for a few years while you rebuild a sane system, or you can have tough times until the end of times.
Saying that the rich will benefit more is a fallacy, or a tautology. It shouldn't be a reason to do nothing.
Btw I'm a privileged one. I live in Europe and I have a salary quite above average. Which means I'm in the 30% wealthy.
Fear of things getting worse is how the rich keep people in apathy: do nothing, or else it'll get worse. It's how they discard left arguments and solutions : this will mean the apocalypse door you and me, but especially you.
It's propaganda. Do nothing while people die rather than trying your chance at the future. If you look at the propaganda you'll see that the only chance they encourages you to take is the one that earn them your money for a chance to become one of them. "there is no alternative".
Liberalism survives only because of fear and propaganda. People die everyday because of it, and the next crisis will kill many more only for the system to sustain itself until the planet is no more livable.
You don't need to "be able to afford a house" if it's not a free market. But somehow this idea seems unconceavable.
That's not what I'm suggesting. You don't seem very creative about how it can work. Or false alternative is more comfortable to accept this fucked up situation that is already killing people.
For how long?