Posted On: Wednesday - April 19th 2017 6:55PM MST
In Topics:   Globalists  China  Economics
"When we hang the capitalists they will sell us the rope we use." Joseph Stalin, probably lifted by him from Karl Marx.
Stalin didn't know squat-all about real capitalism, or he could have converted the USSR out of it's decrepit state of tried-and-true-failure Communism to rival the US. It's too bad our country has mostly forgotten what true capitalism is about, except at the level of small business, which gets daily hammerings by the crony capitalists that work with our Feral Government.
So, "When we hang the crony capitalists they will sell us the rope we use." There, FIFY, Dead Uncle Joe. (carry on; continue to rot in hell.) Zerohedge reports on exactly this phenomenon as Warren Buffet markets American real estate to foreigners on a large scale. This tends to price Americans out of many primo areas of the country, especially the west coast cities.
From the article, "Warren Buffett Now Selling US Houses To Chinese Oligarchs",
As Bloomberg reports, HomeServices has been expanding under Buffett by opening new locations, forming a 2012 venture to expand licensing operations and then working to capitalize on demand from non-U.S. buyers. The unit hired Realogy’s Peter Turtzo in 2015 to push into international markets and recruited Mitchell Lewis from Christie’s International Real Estate in September to build operations in Europe, the Middle East and Africa.
As a result, on April 17 Buffett's HomeServices announced an agreement to advertise its U.S. homes on Juwai.com, which attracts about 2 million visitors a month. The portal hosts sites on both sides of China’s “great firewall,” meaning consumers can access the information inside the nation from more than 400 cities and also from more than 160 other countries, according to a statement Monday.
“The Chinese have overtaken all nationalities besides Americans as the leading buyers of property in the U.S.,” Gino Blefari, chief executive officer of Irvine, California-based Berkshire Hathaway HomeServices, said in the statement. The Juwai.com accord and other efforts overseas “make it much easier for Chinese real estate buyers to find and shop our property listings.”
It stands to reason that when one runs out of prospective domestic buyers, the next logical step is to approach those who have been engaging in unprecedented money laundering on a global scale in the form of "real estate purchases" which are nothing more than parking funds offshore (and far away from China's banks) while leaving the newly purchased house unoccupied.
What a scumbag this Warren Buffett is! Didn't it used to be that even the biggest railroad barons and the oil tycoons still cared about Americans, were proudly American, and weren't in their business to sell out the country?
I do have some slightly personal knowledge of the Chinese money laundering described in the following paragraph. No matter how supposedly capitalist China is said to be, the hardest working people there are usually not the ones that end up with the big bucks. It's the corrupt government officials (all levels and types of governments) that make, say, $600/month salary, that somehow have enough money to buy a house in Huntington Beach, Cali, and some left over to pay exorbitant tuition at a university for their kid, to obtain a worthless piece of paper (they don't know this last part yet) and to establish a foothold for this bugout-o-China location.
It was not immediately clear if and how Berkshire assures that the funds used by wealthy Chinese buyers are not of the "hot money" variety, meant to be parked away from China's perilous financial system and in the process raising prevailing prices to nosebleed levels in any given MSA, as has been the case in recent years with both the Vancouver and, more recently, Toronto housing markets. As a reminder, the US National Association of Realtors remains exempt from Anti Money-Laundering provisions, quite happy to take the money of any and every global buyer, regardless of where the funding came from.Zerohedge keeps up with these stories very well.
Oh, please don't confuse this scumbag Buffett with another Buffett, hopefully unrelated. One could only wish that Warren Buffett were wasting away in Margaritaville, searching for his lost shaker of salt instead of a new way to sell out his country.