In Germany, Martin Schultz wants to give refugees the right to vote. So if he cannot win with Germans, he wants to give the right to vote to refugees to win by bribing them. The German politicians are now giving them apartments they are constructing that cost about 3 million each. The construction costs actually come out to about 1600 per square meter and since each apartment is about 470 square meters, the cost to build one apartment is more than 3 million. It is stunning that Merkel was so fearful of inflation that she would not yield to Greece and saw fit to impoverish the people to pay for the political corruption of their politicians. Yet building dwellings for refugees without language and job skills that cost 3 million each is some how not inflationary.
This post was published at Armstrong Economics on Apr 15, 2017.