Monday, Sep 07, 2009
Viva Espana!!!!!!
Yahoo: Spain's rich eye stocks, overseas property
Shouldn't the first sentence read: "With Spain languishing in what many economists consider will be a prolonged recession, its rich have returned to buying shares, encouraged by a decoupling of the stock market from REALITY".
Posted by bystander @ 12:43 PM (328 views) Add Comment
3 Comments
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1. stillthinking said...
An incidental part of devaluation, i.e. subsidising UK exports with savers money, apart from reducing overall trade, is to cheapen UK assets to foreign buyers. Lest we forget foreign asset buyers are already looking at 50% falls in property. This happened in the 70s when wealthy foreigners came over to buy London property i.e. wealthy Yugoslavs looking to get out as Tito lost power.
Look for a badly run company in a fire sale and strip out the good assets. In some ways this is good news in that people can see future wealth in the UK.
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