I'm forsaking the cowboys of the Irish economy for a well-deserved rest from the recession.
I'm off to India for a couple of weeks or so instead.
Firstly to remind myself what real poverty looks like, after having been affected by the weeping and gnashing of teeth from the buy-to-let 09 beemer class in Dublin.
But also because I want to see what an economy on the up, built on actual industry and not on bubbles or bullshit looks like.
By the time you read this, I'll be en route or there already. I may or may not post while I'm away. I will try to pop in and read any comments, though.
So happy Easter, y'all. See you on the other side.
Sunday, April 05, 2009
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2 comments:
In parts of India they are having their own little property bubble with foreign investors pushing up prices. Does this sound familiar, except for here you can drop the foreign word as we have so many of our own homegrown investors and wannabe investors.
I won't say enjoy India, as I've been there a few times myself and it's seriously poor and it really does affect you. But enjoy the break from Ireland.
I'm in Goa at the moment and was in Mumbai yesterday.
Both of these seem to be experiencing a property bubble alright.
There's an obvious correlation between localised property bubbles and areas of foreign interest in poorer countries.
I saw in on the Natal coast and the Cape in South Africa, I saw in parts of Thailand and I can see it here too.
I wonder what will happen to all these ponderosa apartments when their bubble bursts too?
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