Mish Shedlock is exasperated that the new conservative govt is pondering a 50% capital gains tax on second homes etc, rightly predicting this makes such assets a sell call. Of course, which lowers the price of house overall as excess inventory floods in on top of excess inventory. Falling house prices is good and necessary. Expect the next 30 years to be about taxing any fixed assets, so the best strategy is to be a merchant, self employed small business.
Expect policy laundering with the UK... this tax will fly because although onerous, it affects relatively few and those who played the last decade right. Tax winners. Mish expects investment flight. Where to? Bill Bonner hits the "asset allocation" trope. I think the new era calls for activity allocation. Investment in others is over. Investment in self is the future.
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