Renegade Economists Show 56


Creative Commons License photo credit: thelastminute

Summary

The Earth Belongs to Everyone – that’s the title of the new book by last week’s guest, UN rep Alanna Hartzok. She discusses why wage/ rent slavery is no different, if not worse than outright slavery. US dramas and a touch of Garnaut fill the show. Below are the notes host Karl Fitzgerald scurries through as he/I traverse through the gammut of issues that economics effects.

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R56

“When the people find they can vote themselves money, that will herald the end of the republic”. — Benjamin Franklin

The Earth Belongs to Everyone – Book details

Order Alanna Hartzok’s excellent new book to get to the bottom of the drive to war and insights to the subliminal chains we wear each and every day with every tax dollar we pay.

A Collection of Articles and Essays by Alanna Hartzok. Themes include: Democracy, Earth Rights and the Next Economy; Sharing Our Common Heritage; Land for People, Not for Profit; Financing Local to Global Public Goods; Women, Earth and Economic Power; From Warfare to Earthshare.

Alanna Hartzok – Earth Rights International website
Alanna 2006 tour details, multimedia

Other articles covered:
If you’re going to bailout anybody Money to the People!

Once again, the real estate interests and their financial symbiants will get rescued from the folly of ignoring the inevitable real estate cycle. The real estate cycle is caused by government and gets rescued by government. This indicates the real purpose of government: to protect and subsidize the landed interests, including lenders who use land as collateral. Since land values periodically crash, the real interests need to be bailed out if they are to keep being protected. Meanwhile, worker-tenants pay not only taxes but higher rents to the landed royalty.

A government of the people rather than of the landed royalty would require either anarchism, so that all state subsidies to landed interests cease, or else the public collection of all the economic rent, and its equal distribution to the people as cash or as civic services. That rent would replace all punitive taxation, would eliminate recessions and depressions and poverty, and would remove the suffocation of enterprise now taking place. But the very system of land royalty also controls education, so few will learn the right lesson from the great real estate crash of 2008.

Public dollars are already lining speculator pockets on Wall Street

Bailing out big banks means more of the same. Look where the AIG money went. Where billions of Fed dollars are going. And the underlying land — called housing” — market still has not hit bottom. We trim, blend, and append five 2008 articles: Bloomberg of Sept. 29 by Mark Pittman, the Associated Press of Sept. 29 by Min Lee, Reuters of Sep 24, and CBS MarketWatch of Sept 24 and 17.

Steve Keen: Hank Paulson the evil scientist, not the hero

Paulson, like his many buddies in Wall Street who also paid themselves enormous “wages” (Paulson paid himself US$37 million in 2005 as CEO of Goldman Sachs), deluded himself into believing that subprime lending made economic sense.

Even in the weekend that it was worked out, five major financiers failed — Wachovia in the USA, Bradford and Bingley in the UK, Fortis NV in Belgium, Hypo Real Estate in Germany, and even Iceland’s major bank Glitnir — leading to state takeovers costing well over US$50 billion. How long would a US$700 billion Antidote last in today’s climate?

Music

Thanks to the following artists for their beautiful work:
Your Body Could Start A War (Feat. Leah) by LAL
Samba MachineKassin+2 (from the album “Futurismo” on Luaka Bop)

thxs also to Dublab for providing much of the music we play via their free mp3 blog

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