Community Land Trust Momentum

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The Early Bird
Creative Commons License photo credit: Carly & Art

Renegade Economists Podcast 99

As recorded on the almighty 3CR, Wed July 22nd
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Community Land Trust Momentum: This week we talk to Dr Louise Crabtree about Community Land Trusts and the growing groundswell of support. Alice is back and we talk about Powershift, climate and everyday monopolies.

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**** Apologies for the late posting but I am on tour in the US, exciting stuff, exciting people.

Leaders hijacked by powerful nations PACER PLUS
Why Pacific nations bend over – poor tax policy breeds reliance!!!

Everyday monopolies:

  • Bars – Brewery pays for bar & taps & hotelier signs a 3 year contract to buy kegs at X price AND you can only have ‘Xbeer’ on tap.
  • Mobile phones – monopoly on iphones – wont sell outright, force u to pay prepay and thus add some cream on top, wont event let the store google search ‘outright ownership’. If buy from a non-optus store – u pay $150 to unlock it.
  • Homebirthing outlawed in 2010
  • “Effectively two pieces of legislation will outlaw midwives providing > homebirth care from July 2010” said Justine Caines, mother of seven and secretary of Homebirth Australia.
    = Obstetricians monopoly…just what our over-stretched public hospital system needs…and a female Health Minister ok’s it. What is left of traditional Labor values?

  • Lunar property for sale
    ….. the Lunar Embassy, the leaders in extraterrestrial real estate and the ONLY company in the world to be recognized to possess a legal basis for selling and registering extraterrestrial properties!
    Perhaps you can’t own it here….but you can, own it up there!

    2003 – the Lunar Embassy chief Mr. Hope has been named co-chairman of the Republican Congressional Business Advisory Council. He has also been given the National Republican Leadership Award and most recently he has been issued the highest honor the National Republican Congressional Committee has, the prestigious Republican Gold Medal.

What does Neil Armstrong, Buzz Aldrin and alien life forces think?

Material We Didn’t Get to Cover

Commercial Real Estate Cliff Diving
Commercial real-estate prices fell 7.6% in May, according to Moody’s Investors Service, as both dollar volume and transaction count reached record lows in the nine-year history of the firm’s Commercial Property Price Indices…The indexes are down 29% from a year ago and 35% from their October 2007 peak.

That 7.6% drop wasn’t a year-over-year drop. It dropped 7.6% in just May.
In April it dropped 8.6%, thus making a two month decline of 16%.

Global slowdown impacts land tax reform
The West Australian Government has told the Property Council not to expect more reforms to land tax this financial year.

The council’s executive director, Joe Lenzo, met the Treasurer, Troy Buswell, yesterday as part of his group’s push for a lower cap on the tax.
Mr Lenzo says although the Government’s agreed to put a cap of 50 per cent on any increase in valuations, that is still too high.

He wants valuations to be linked to the Consumer Price Index (CPI).

Mr Lenzo says Mr Buswell told him the Government could not afford to make any more changes because of the global economic slowdown.

Unbelievable – if land valuations are tied to CPI, then yet again the community’s hard work is privatised by the lord’s of the earth.

Speed Renting – yet again more vacant rooms than room seekers

Hedge Funds Rally To Best Monthly Results In 9 Years
Phillip Morton, Investors Offshore.com 14 July 2009

Showing an increased appetite for risk, hedge fund managers posted the best monthly performance in over nine years since February 2000 with a return of 4.1% in May.

….major hedge fund strategies:
Dedicated Bias…
Convertible Arbitrage outperformed the next best strategy (Emerging Markets)

Market erases rest of super’s boom gains
Eric Johnston, July 15, 2009

THE sharemarket rout has delivered the second consecutive year of negative returns for Australian share funds.

The bulk of the gains made during the boom years have now been wiped away as investment managers suffer their worst performance in nearly three decades.

The median local share fund lost 17.3 per cent last financial year, delivering a slightly better return than the 20.2 per cent loss recorded by the S&P/ASX 200 Index in the year to June 30, according to figures compiled by Mercer.

This has taken median Australian share returns for the past five years to 8 per cent, which is in line with long-term average returns.

Nothing new in bank fee laws
Gavin Putland , letter to the editor

NEW federal laws on bank penalty fees (The Age, 13/7) will merely confirm what state contract laws have always said: To the extent that penalty fees exceed actual costs, they are unenforceable and must be repaid on demand.

Of course, the banks wait for you to sue them before they refund penalty fees. But they always pay up (with costs) to avoid a precedent-setting judgment, because they know what the judgment would be.

They might try to cancel your account for non-acceptance of the contract. But you can discourage that by framing your demand along these lines: “If the disputed amount is not repaid by (date), I will take legal action alleging that the inclusion of unenforceable terms in a standard contract constitutes misleading and deceptive conduct, and seeking injunctive relief, i.e. an order to rewrite the contract for all customers. The said action will commence immediately if you cancel my account for alleged non-acceptance of the contract.” Ouch.

Gavin R. Putland, Dandenong

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