4 ms·

1. "banning foreign ownership" would result in Portugalexit at best, perhaps a Zairization of Portugal, or even worse - no thanks. What's wrong with large indu

1. "banning foreign ownership" would result in Portugalexit at best, perhaps a Zairization of Portugal, or even worse - no thanks. What's wrong with large industrial projects? It's exactly what we need at this moment - in fact, both Portugal and EU-scale. This would cost a small fraction of the Quantitative Easing program from the European Central Bank. (and these Massive Real Estate buildouts must include the lessons in Urbanism learned from past such projects) 2. (y) 3. State sector raises salaries, private sector is forced to follow. Just raising minimum wage is positive, but not enough. This tends to compress people to the bottom salary tier and promote even more brain drain.

jollybean 4y ago
Large industrial projects are gigantic efforts that involve billions of dollars and years/decades to take effect, massive capital requirements. And risk. "State sector raises salaries, private sector is forced to follow." ... my god man, no, that's not how it works. More like: "Already inefficient state bureaucracies raise salaries, attracting workers from private sector who cannot afford to pay higher wages, requiring massive budgetary increase from government i.e. 'more taxes' just as economy goes into tailspin due to private sector layoffs. Probably the EU needs to re-think the fact that it's designed to send all young workers to Germany or at least out of Portugual/Spain/S. Italy and Greece and leave them as octegenarian tourist centres with illegal Turkish workers doing the actual work. Either 1) the EU starts massive transfer payments or 2) get rid of the Euro and have some limits on mobility, or it will just limp along. #1 might require political and fiscal integration which would probably just exasperate the problem. In the short term, they should probably raise taxes on foreign home ownership.
- DrNosferatu 4y ago
  Large industrial projects brought most of the civilization advances we enjoy today: What were then Concorde, the US Interstate Highway System, LHC, Hoover Dam and the Apollo Program? But yes, Europe needs a genuine Hamiltonian Moment (share the debt burden) and also a genuine New Deal, instead of the current beggar-thy-neighbor EU order where Germany & friends benefit all.
stjohnswarts 4y ago
(1). why not just make it painful to be a foreigner there. Raise taxes on rent/property if you're foreign by 3-4x (or whatever makes sense after an analysis of building new housing from foreigner tax dollars). If you don't want to scare off the ones already there then make it not retroactive. People like to make these situations tougher than they need to be. Mostly it's impossible because politicians are paid off by the 1% (foreign and domestic). The Portuguese have a right to enjoy their country without foreigners coming in and buying it off and pushing them to the edge of poverty. Globalism has got us in a tenuous situation in the West depending completely on the likes of China for our style of living. I can understand the Portuguese being angry with the situation.
- unmole 4y ago
  > why not just make it painful to be a foreigner there In a country with a TFR of ~1.4 and a median age of ~47. What could possibly go wrong? It's not like Portugal is seeing a declining population or anything. Oh, wait.
spaniard89277 4y ago
> 1. "banning foreign ownership" would result in Portugalexit at best, perhaps a Zairization of Portugal, or even worse - no thanks. What? This makes no sense. You basically leave out a large chunk of the induced demand. There you have your prices lowering.

jollybean 4y ago

Large industrial projects are gigantic efforts that involve billions of dollars and years/decades to take effect, massive capital requirements. And risk. "State sector raises salaries, private sector is forced to follow." ... my god man, no, that's not how it works. More like: "Already inefficient state bureaucracies raise salaries, attracting workers from private sector who cannot afford to pay higher wages, requiring massive budgetary increase from government i.e. 'more taxes' just as economy goes into tailspin due to private sector layoffs. Probably the EU needs to re-think the fact that it's designed to send all young workers to Germany or at least out of Portugual/Spain/S. Italy and Greece and leave them as octegenarian tourist centres with illegal Turkish workers doing the actual work. Either 1) the EU starts massive transfer payments or 2) get rid of the Euro and have some limits on mobility, or it will just limp along. #1 might require political and fiscal integration which would probably just exasperate the problem. In the short term, they should probably raise taxes on foreign home ownership.

DrNosferatu 4y ago
Large industrial projects brought most of the civilization advances we enjoy today: What were then Concorde, the US Interstate Highway System, LHC, Hoover Dam and the Apollo Program? But yes, Europe needs a genuine Hamiltonian Moment (share the debt burden) and also a genuine New Deal, instead of the current beggar-thy-neighbor EU order where Germany & friends benefit all.

stjohnswarts 4y ago

(1). why not just make it painful to be a foreigner there. Raise taxes on rent/property if you're foreign by 3-4x (or whatever makes sense after an analysis of building new housing from foreigner tax dollars). If you don't want to scare off the ones already there then make it not retroactive. People like to make these situations tougher than they need to be. Mostly it's impossible because politicians are paid off by the 1% (foreign and domestic). The Portuguese have a right to enjoy their country without foreigners coming in and buying it off and pushing them to the edge of poverty. Globalism has got us in a tenuous situation in the West depending completely on the likes of China for our style of living. I can understand the Portuguese being angry with the situation.

unmole 4y ago
> why not just make it painful to be a foreigner there In a country with a TFR of ~1.4 and a median age of ~47. What could possibly go wrong? It's not like Portugal is seeing a declining population or anything. Oh, wait.

spaniard89277 4y ago

> 1. "banning foreign ownership" would result in Portugalexit at best, perhaps a Zairization of Portugal, or even worse - no thanks. What? This makes no sense. You basically leave out a large chunk of the induced demand. There you have your prices lowering.