The Unique Property
Is There Somewhere You Can Hide?
Update on home values across Europe
We have an interesting situation forming across Europe. For some
considerable time I have been saying this is deliberately
created by politicians. Whether that is due to the fact that
they are brain-dead, or due to some campaign to screw the
population is another matter. I tend towards the view that they
are simply stupid.
There are a few obvious clues to the current state of Europe.
First letís look at the war problem.
The main media talks about a Russian invasion of Ukraine, and
sees the combatants as Ukrainians versus Russians. However,
hasnít anyone noticed that the combatants are the Russians
aiding Dombas against Kiev, which is not the same thing at all.
The argument is about Donbas wanting to succede from Ukraine,
and form an independent state like Crimea. Kiev has been bombing
Donbas to force them into submission for the past eight years.
The Minsk International Agreement required Kiev to stop the
bombing and start talks. That didnít happen, hence the
There are only two sides to support, Donbas or Kiev. Russia
chose Donbas. If you support Kiev, that means you want the
Donbas to put up with a regime they hate. Now why should you
want to do that?
It so happens that I dont care. It doesnít affect me. I suspect
it doesnít affect you either, but I have to say I rather approve
of small states pushing for their independence, but what is more
important is the suicide tactics of Western European
politicians. Why are they supporting Kiev? What has Kiev got to
offer Western Europe? Rather a lot of grain. Okay, got it. But
was Donbas going to interfere with that? Not to my knowledge.
The only problem there is: if you are for Kiev, you are against
Russia. What has Russia got? A hell of a lot of energy,
fertilisers and other agricultural essentials, which Europe cant
The sensible argument now comes down to what is the more
important? A quick glance at the news spells that out in capital
letters. Europe is about to go dark and hungry. Recession is
with us with a vengeance. To say itís coming is simply absurd.
Itís here. What is coming is that the recession is going to get
worse, a lot worse.
Germany is losing 40% of its energy right now. For Germans
winter is coming early this year. Italy has a similar problem,
and to a lesser extent most of Europe has the same problem.
Some countries have a worse problem with their agricultural
supplies and industries. The UK imports approximately 80% of its
agricultural requirements. Thatís an insane level. If there is
another all-out war the UK would within weeks be starved into
Under such conditions would a war with Russia (where most of the
agricultural supplies come from) be a good idea? Apparently,
lunatics like Boris dont seem to think thatís a problem.
ďWhat are we going to do?Ē wail EU politicians. I would have
thought the answer was simple. Stop screaming at Russia and use
some sense. Sadly, that presumably needs to be imported from
somewhere else as well.
You dont need me to point out that with inflation on the up with
a vengeance, interest rates rising (another 0.5% in the UK this
week), wages stagnating, and industry going into a recession,
house prices wont be going up any time soon across most of
Europe. A cold winter wont help matters either.
But this does leave us with a few anomalies.
In the modern inter-connected world, getting away from it all is
pretty difficult. I live in Portugal as most of you know. That
means I put up with a largely dysfunctional country. Trying to
get things done here is a nightmare. We are also in the midst of
a severe drought, and yet people are still watering lawns, and
golf courses. The local car wash is doing a roaring trade. There
are no bans in sight, except, strangely, for people watering
their fruit trees and vegetable plots. Work that one out. A
small truck-farming unit less than a kilometre from me is
reduced to waste land because the owner cant get access to water
while the car wash down the road keeps functioning. Thatís
Portugal, where clean cars are more important than food.
But Portugal is hardly dependent upon foreign energy. In any
case, there is very little industry in the country. Weíre less
dependent upon foreign food imports as well. And although we
suffer from high summer temperatures, we do not have a winter
cold problem here in the south.
Where is this leading me?
The above points have not been missed by those who can be
mobile. There is a continuing movement of people from the north
of the continent to the South, and that is keeping the housing
market here in a lively condition.
Life might be a lot better way down south. Itís gonna cost you
nowadays of course, but if you can put up with the day to day
disfunctionality of the place, it is reasonably pleasant, and I
think we might survive this mess a lot better than those of you
a lot further north. Maybe I should do a Portugal issue of
properties for the members.