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0 sats \ 3 replies \ @Solomonsatoshi 3h \ parent \ on: India home prices set to soar, pushing millions into costly rentals econ
Yes that is what I guesses would be the case in India with housing debt being less highly leveraged and more state provided.
Assuming there is development of Indias productive capacity then the future may be brighter than in the more highly financialised west where fiat funding of housing has become the main recipient of private bank fiat debt issuance- for example here in New Zealand, since neoliberal deregulation of banking in the 1980s the ratio of commercial bank funding toward housing has escalated from close to zero to over 60% of their total issuance- that of course means that fiat debt issuance toward productive purposes- mainly farming and industry in NZ has declined from close to 100% to below 40%.
India does sound less captured by the neoliberal fiat debt slavery misuse of fiat capital issuance that has developed in the west. Good for India!
Yes, I'm very excited about it. India is definitely not following the path of the west or China or any other nation. It's found a midway or a different route which so far seems much much better. Although a big credit in making india a 'very resilient mixed economy' goes to its people and culture.
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Having a strong culture of self determination and the scale that India has means you can choose a more independent path and that is a definite strategic advantage imo.
My home New Zealand has always been a subservient lapdog to first Britain and then immediately following WW2 the US. The banking system in NZ is made up of 4 large banks who are all majority owned by US shareholders. NZ is monetarily and militarily subservient to the US and pays tribute in part via the massive profits extracted by US banks. Politicians here claim we run an independent foreign policy but many of them are strongly influenced by US, and increasingly, Chinese business interests.
As Chinas economy comes to dominate international trade India might help balance that dominance as it may have the development potential and cultural strength to compete with China in some areas that even the west cannot.
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I can understand the pain of all the nations that are carrying everything under the shade of the USA. Take Europe for example, Trump is the de facto president of the Europe as well.
Chinese economy is overly reliant on exports which has become a big deal for them. And the way china's economy has boomed, it's more likely it'll burst like Malaysia.
India is not trying to challenge any nation but building itself stronger day by day and that's the motive I see in current India's politics, culture, youth, media and everywhere.
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