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Originally Posted by bizaro86
Do you mean trying to subsidize domestic production of semiconductors like the US and their CHIPS act? Because that's likely to be an expensive boondoggle if we tried it here (and it probably will be there as well, but at least Intel exists there). This stuff will almost certainly be solved by the time a new Canadian facility could be built anyway, and the supplies needed are all at huge premiums because Taiwan is building fabs at break neck speed.
Their other legislative initiatives related to inflation can be summarized as giving people government money, which is actually quite inflationary. There is a compassionate argument in favour of that, but it does make the problem take longer to solve.
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Having the US next door to invest in the CHIPS act is a massive, massive benefit for Canada. We probably can't contribute much to help that along, but if there is anything our government could have done, I hope they were involved.
But no I don't expect multi-trillion dollar investments to onshore everything.
I do expect however dealing with money laundering and criminal activity in the real estate market, as an example. And for those that think those activities don't drive up the price of housing....
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International money laundering watchdogs have condemned Canada’s failure to regulate its mortgage brokers, lenders, housing investment funds, realtors, developers and lawyers. Transparency International has consistently ranked Canada near the bottom of the pack of all G20 countries due to its failure to meet G20 anti-money laundering commitments. And last summer, Global Financial Integrity (GFI) — a Washington, D.C.-based think tank focused on corruption and money laundering — issued a report the underscores Ottawa’s many failures.
GFI’s report analyzed 35 cases involving US$626.3 million ($783 million) in laundered funds over five years (which is a drop in the bucket considering that a 2019 RCMP report estimated that $46.7 billion was laundered in Canada in 2018 alone). It found that about half the money laundered through Canadian real estate came from outside the country, with China accounting for nearly a quarter of the foreign funds. Of the domestic money laundered through real estate, well over half came from drug trafficking.
So far, nothing has been done to crack down on professionals or immigration investor scams. These intermediaries, like chartered banks, should be required to report suspicious clients and suspicious transactions to authorities, as is the case in other countries, such as the United Kingdom.
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https://financialpost.com/diane-fran...an-real-estate
Been going on for years. Been a problem for years. Everyone has known there has been a problem for years. Guess what the government has done for years? Nothing.