Sunday, March 5, 2017

Look to the land

Why have all attempts to fix Britain’s housing crisis failed? Look to the land

Its the Land stupid so tax it...

Posted by pete green @ 04:46 PM (5317 views)
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2 thoughts on “Look to the land

  • Typical Guardian liberals, unable to comprehend the extent of financial power and financialisation of the economy. ” We need to break the positive feedback cycle between the financial system, land values and the wider economy”……. Easier said…… In other words we need to break the power of the banks. But the aristocracy’s ownership of land (and monopolies and natural resources) and the big banking fortunes from war lending and usury have always been in power and joined at the hip, with banking gradually gaining preponderance over the big landowners.

    We see interest charges, stock buybacks, debt leveraging and other financial manoeuverings eating into profits, deterring investment in plant and equipment and diverting revenue to economically empty financial operations. Regarding the land/housing question, bank lending inflates land prices and thus interest payments to the financial sector. The more banks lend, the higher real estate prices rise, thus encouraging more bank lending. As mortgage debt service rises, more of household income and more of the rental value of real estate are paid to the financial sector. It is a major way, but not the only way, for the banks to increase rentier claims on the means of production and the flow of wages, profits and tangible capital investment. And increasing those rentier claims is the name of the game. So let’s analyse power, financial crises and increasing inequality before we talk about getting rid of it. Ask – did we just drift into this state of affairs or was it driven by those controlling the machine?

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  • Spot on Icarus, could not have put it better myself – the Article was wishy washy in the extreme.

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