08/11/2008
Teri Buhl writes in the New York Post:There’s a new land grab starting in America.So, the masters of the universe think that they can support massive transformation of the population of the United States, fuel a construction boom with illegal immigration and expand foreign ownership as part of the aftermath? And this can all happen while we are seeing stagnant real productivity per American worker and stagnant living standards and wealth levels among the American population?Foreign money, which up to now has focused its attention on investing in iconic commercial real estate — like Barneys New York and the Chrysler Building — is now moving to scoop up tens of thousands of discounted foreclosed homes across the country. [Lost Sovereignity | Oil-Rich Fund Eyeing Foreclosed Us Homes, August 10, 2008]
Machiavelli warned that a good prince should abstain "from the property of his citizens and subjects and from their women". Now maybe the art of political economy has advanced to the point such rules are obsolete. If they aren’t, this is the sort of thing that could generate a huge backlash.
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