Comments by "firstandforemost87" (@firstandforemost87) on "China defends death sentence for Canadian convicted of making "illegal drugs"" video.

  1. Funny, cuz a whole lot of fentanyl comes here from China, and a whole lot of the proceeds are washed in our real estate markets.
    204
  2. Yuzhou Qu Yes. Land was sold at a high price. Inflation continues alongside wage stagnation. Who made money? Those washing money in our real estate markets, those lucky enough to already hold real estate assets, and some runoff dripped upon the heads of developers. Big win.
    10
  3. Shifting Mercury Yuzhou is pretending that the money is translating into massive development and economic activity, when in reality supply can’t keep up right now w population growth and foreign buyers. If Vancouver could buy some land from the land factory and throw some houses on it overnight I’m sure the city would do that. Soon we’ll all be pretending that living in multi level cities in which an underclass rarely sees the sun, or in high rise caves in the sky, are healthy by-products of market driven ‘progress’.
    2
  4. miýwêýihtâkosiw Mahihkan Yes.
    1
  5. Yuzhou Qu I never talked about the value of the dollar. Focus. “Nobody own real estate by ‘luck’” I never said anybody does, but seeing as how ppl inherit real estate all the time by circumstance of (usually) birth, I would say that makes their acquisition a ‘lucky’ one. Nothing wrong w that though. I was implying that they are lucky to have it, not that it’s acquisition is the result of luck. If you want to pretend that market circumstances are time static then be my guest. In reality, the circumstances that lead to some accumulating assets before other are often time dependent. Hence the reason millennials are (were? Who knows anymore) expected to be the beneficiaries of the greatest inter generational wealth transfer in human history. Boomers were able to accumulate wealth, and now that wealth is to be passed down. As for working harder, I’ve spent my time in lockdown studying 12-14 hours a day for a professional STEM certificate to couple with my education in economics and statistics. Kinda hard to go and ‘work’ though when society literally shut your workplace down and truncates demand. You also might want to keep in mind that the topic here is the indirect economic impacts of the laundering of illicit gains through Canadian housing markets. This isn’t just ‘foreign investment’. It’s the washing of proceeds from a black market trading in a substance that is most responsible for the opioid crisis killing ppl by the thousands. I’m not so sure that’s the kind of foreign investment we are looking for.
    1
  6. Collin MacInnis I’m sure the party tries its darnedest to keep those drugs from leaving their ports. I’m sure they are Losing sleep at night over it. I’m super sure that such severe penalties for drug pushing and production over there have everything to do with stopping the trade and absolutely nothing to do with state actors protecting their own interests in the same trade. I’m super super sure lol.
    1
  7. Collin MacInnis “225K foreign students in universities” It’s also a lot of seats that could be occupied by our own students and a lot of human capital leaving the country post graduation. Universities want to accept state funding? Sure! You just have to accept Canadians students first then.
    1
  8. Leslie Starck Lol what are you talking about?
    1
  9. Matthew Li Well then consider me the exception to the rule because I don’t believe money grows on trees (never said anything of the sort), nor do I believe we are all destined to be rich (lol quite the opposite actually) just because we reside in this lie of a country, nor did I ever claim the only (or even primary) issue facing Canadians economically Is “the relationship between illicit drugs and the real estate market”. Sure, nobody wants to touch Canada w a ten foot pole financially; not just due to inefficiency, but as well due to significant regulatory uncertainty. Everybody also knows that it isn’t exactly a secret that Canadian housing has been a go to for dirty money for a while. By all means though Matt, keep refuting arguments nobody here has made if it entertains you so.
    1
  10. Matthew Lee Here’s an observation. You started, and are engaging in, a petty argument. Say, are you a Canadian economics major? Walks like a duck right? Cheers Matty!
    1
  11. Niki L Just google ‘Money laundering Canadian real estate’
    1