Quote:
Originally Posted by Tapioca
My point about Canada being a socialist country was that if a crash in the housing market were to happen, the government would step in and run deficits and/or provide assistance to ensure people remain employed and are able to remain in their homes. Canadian governments have historically run deficits with aplomb to ensure that a decent standard of living is maintained for the average Canadian.
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your point is well taken, and I do agree with you that the gov would have all intentions on helping out, but governments can only do so much. when markets sink (economic, housing, and otherwise), there is always collateral damage no matter how much or little government steps in.
one can argue that when governments step in, they are just skewing things, stopping the immediate rot, but by doing so, extending the rot.
i say let things fall, it just skims off the fat and allows the strong to rebuild. but then again, i'm a staunch capitalist that thinks government intervention is always net negative, so take whatever i say with a grain of salt.