Prosper Australia

photo credit: zachstern

Thanks to the many links within Steve Spadijer’s well researched article on a Betterment Levy, we bring to your attention this insightful piece from Time Magazine 1973, The New American Land Rush:

On Maine’s Moosehead Lake—frigid in winter, plagued by black flies in summer—300 ft. of water frontage is selling for $30,000, or double the price of two years ago.

In Provo canyon, Utah, raw land near the Sundance ski resort fetched $3,750 an acre in 1966. Today it goes for as much as $13,000—even though zoning restrictions prevent some buyers from building anything.

Near Orlando, Fla., a grove owner sold 30 acres of land 15 miles from Disney World last spring for $285,000. Two weeks later the buyer resold it for $375,000. One week later a subdivision developer bought it for $525,000. Several months later the developer turned down an offer of $750,000 for the property, upon which he is now constructing apartments.

Read More and remember – the banksters bailout is transferring public money to private hands in reward for excessive gambling on sub-primers. There is nothing on the policy frontier that will eradicate such boom-busts from occurring again.

When will we start to re-imburse the largest polluters on this planet for all their ‘hard work’ creating cancers that we then have to pay exorbitant medical fees to fix up? The high rents young homeowners are being forced into paying for the majority of their working life are the financial corollary.

Gen Z – welcome to a risk subsidised future within the most uncertain climate on record!

To read more about Fred, visit his blog

Thurs Nov 6th, 6.45 pm
featuring Dr Gavin Putland
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Which politician will use the ‘recession we could have avoided’ line? Rest assured Paul Keating will be invited.

Dr Putland will discuss why asset price bubbles always end in tears. What trends have made such busts more prominent? What can be done to avoid such train wreck recessions?

Why is economic growth irrelevant for the majority of Australians?

You will be staggered to learn just how much extra we could all be earning with a more efficient way of business.

Level 1, 27 Hardware Lane, Melbourne
Gold coin donation to cover drinks and nibbles.

Renegade Economist Press Conference

photo credit: amirjina

Can someone please write in their diary June 2024? Because that’s when we are going to start warning about the next big bailout for bankers. If we do not learn from the horrors of this downturn and collect the economic rent that accrues to land, then the next 18 year cycle will be chugging along by 2024 and another asset boom-bust will be underway.

It is almost beyond belief that the $870 billion bailout equates to the entire spending of the US Department of Defence, Education, Health and Human Services. With rumours surrounding Goldman Sachs as the next to go bust, one wonders if the revolving door between Goldman and Treasury, where US Treasury Secretary Paulson worked until 2006, will see another bailout for insiders.

Of greatest concern with the $870bn bailout is whether the thousands of mortgages acquired by the government will be drip fed to the market. This will put the government in direct opposition to the community. A market system would see these banks fail and the price of land fall back to levels that can be realistically earnt off the site via the average wage in the area.
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