He also says that the U.S. deficit is not really a big problem.
In the last part he talks about the global water shortage problem. Many countries have greatly increasing populations putting stress on the water supply. He cites London as a city with a huge problem. London has had a massive influx of immigrants over the years - why were politicians so short sited?
My local town council doesn't know where to build any more houses, so they are knocking down good houses and building flats in their place. The flats have no gardens, just parking spaces. If the population growth is exponential then most of the houses will eventually become flats. In the cities the gardens still allowed the wildlife to flourish, but that could all be gone one day. And more concrete and less gardens means a bigger floor risk.
No resolution is in sight for the trade war with China and relations may even worsen, this according to Steve Hanke, professor of applied economics at Johns Hopkins University.
U.S. President Donald Trump has been unwillingly to budge on his trade policies with China, but the Chinese communist regime is unlikely to make compromises either, Hanke told Kitco News.
“The U.S. thinking on this thing is completely wrong-headed. We have a president who is a businessman and most businessmen have no clue about international economics. They think the international economy runs like a business so they have the wrong idea about the thing,” he said.
“Prof. Steve Hawke is a goldbug but “
ReplyDeleteClassic....
I'm glad you agree.
Delete«London has had a massive influx of immigrants over the years - why were politicians so short sited? My local town council doesn't know where to build any more houses,»
ReplyDeleteFirst of all, the UK has an enormous amount of buildable land, so there is no shortage of land as implied in "doesn't know where to build any more houses", There is a shortage of jobs where there is plenty of housing and land (middle and norther England etc.), and a shortage of housing only in the areas where it is government policy to attract jobs, and thus tenants and buyers, by investing fantastic sums into infrastructure and business bailouts, that is Home Counties and London.
As to Home Counties and London, the story is simply that incumbent property owners are very happy with their nearly empty 3-5 bedrooms properties with large gardens as they have ballooned in price to £1-3 millions and vote tory accordingly. The immigrants who live 4-8 to a room, sometimes in shifts, don't have the vote. The politicians have not been short sighted at all, they are just about collecting the votes and gifting their constituents the biggest no-work no-tax capital gains possible, and since are typically £30,000 to £40,000 a year for a small 2 bedroom flat with a low price of £400,000, and substantially more for semi-detached and detached properties with a garden.
As to water, the government will spend whatever it takes to bring water to Home Counties and London to help property prices continue to boom in London, and the UK is not short of water overall.