Renegade Economists Show 385
Lead author Fred Harrison on rentier controlled economic policy as we analyse human rights, land grabbing, neo-con policy mobility and the failure of the economics profession to recognise reality. Are first home owners the one’s being squeezed this time?
“We are in the final death throes of a cannibalistic kind of economic activity. It is devouring itself.”
Harrison’s first book, The Power in the Land (1983), predicted the economic crisis of 1992. He followed this with a 10-year forecast (published in The Chaos Makers ) that a global financial crisis would be triggered when house prices peaked in 2007. He wrote:
By 2007 Britain and most of the other industrially advanced economies will be in the throes of frenzied activity in the land market…Land prices will be near their 18-year peak…on the verge of the collapse that will presage the global depression of 2010.
Real estate “bubbles” can be neutralised, but governments refuse to reform the financial system. They are now laying the foundations for the next global property boom/bust, which will create even greater devastation than that which followed the implosion of the West’s banks in 2008.
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