Renegade Economists Podcast 73

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Creative Commons License photo credit: sparr0

Inventors or Speculators

An interview with James Murray (Centre for Policy Development) skates thru the GFC, highlighting the trillions in goodwill on the books. Also covered is a touch on Obama radiance and how local rents are jacked up pre-uni year to extort the market. What’s the solution – join our podcasters!

Show Notes

Workers must restrain from wage claims – said Rudd on Monday, levelling concern at employers, the capitalists.
What about the most important determinant to human endeavour – the landlord sector?
A 3% cut in interest rates since GFC
How has the fed thru to help investor Landlords?
Example: $350K loan to buy an investment property (using ING Loan calculator)

  • standard principal + interest loan
  • $687 p/m saving in interest payments (6.19 – 9.19%)

  • interest only (more popular for investor class)
  • $880 p/m savings

But yet continual reports that rents are being jacked up! A colleague had her cosy (3 BRM) Brunswick apartment increased by $300 to $2000 p/m last week. And who is getting the bailout?

Is this happening as we approach the university year and student demand peaks? What are we to do about it?

If we were to increase the holding charge on land
– the 175 vacant properties found in carlton would soon hit the market, forcing down rents.

Obama’s Sober Sermon on the Steps

For me, the most compelling moment of the speech came when he quoted the Bible. While we remain a young nation, he said, “the time has come to set aside childish things.”

Our “badly weakened economy” as a consequence of not just “greed and irresponsibility on the part of some but also our collective failure to make hard choices and prepare the nation for a new age.”

“prefer leisure over work” and “seek only the pleasures of riches and fame.”

Time to grow up.

honoring “the doers, the makers of things.” As opposed to those who make thing up — like, say, credit default swaps.

“This Land Is Your Land” Like Woody Wrote It

At the conclusion of today’s concert for president-elect Barack Obama 89-year-old Pete Seeger joined Bruce Springsteen for a sing-along with perhaps half a million people of Woody Guthrie’s “This Land Is Your Land,” which I dare say practically everyone in the country knows from childhood.

Full Lyrics

This Land Is Your Land
Words and Music by Woody Guthrie

Chorus:
This land is your land, this land is my land
From California, to the New York Island
From the redwood forest, to the gulf stream waters
This land was made for you and me

As I was walking a ribbon of highway
I saw above me an endless skyway
I saw below me a golden valley
This land was made for you and me

Chorus

I’ve roamed and rambled and I’ve followed my footsteps
To the sparkling sands of her diamond deserts
And all around me a voice was sounding
This land was made for you and me

Chorus

The sun comes shining as I was strolling
The wheat fields waving and the dust clouds rolling
The fog was lifting a voice come chanting
This land was made for you and me

Chorus

As I was walkin’ – I saw a sign there
And that sign said – no tress passin’
But on the other side …. it didn’t say nothin!
Now that side was made for you and me!

Chorus

In the squares of the city – In the shadow of the steeple
Near the relief office – I see my people
And some are grumblin’ and some are wonderin’
If this land’s still made for you and me.

Chorus (2x)

Who is a HRD?

The term ‘Human Rights Defender’ generally refers to “people who, individually or with others, act to promote or protect human rights”. The most obvious example of HRDs are non-governmental organizations (NGO), or
individual activists who campaign for the realization of human rights on a daily basis.

HRDs do not, however, need to work in the field of human rights consistently.

Music

Saltwater Queen – The Battle for Land and Sea
Woodie Guthrie – This Land is Your Land

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