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bushblairandbrown

Finance vs the economy

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http://michael-hudson.com/2016/08/finance-is-not-the-economy/

Haven't posted in a long time but thought this was worth sharing. First half is hard work but comes together in the latter half. 

The authors draw a distinction between money generated through financial overhead (rent) and earnings from productive activity (income). Of course, mortgage debt features prominently.

I also like how it unifies excessive credit with unproductive economic activities. For a long time I've felt that not only were high house prices largely undesirable but that a large and growing fraction of jobs worked are entirely pointless. Consequently this article resonated with me. 

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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