photo credit: James Willamor Michael Hudson explores the analogous nature of Ponzi schemes and the property bubble. How is wealth created in the modern era? Through hard word, through who you know or what you ‘flip’? December 23, 2008 Last week the Good Lord evidently realized that not enough people had been reading Hyman Minsky’s explanation of how financial cycles … Read More
Commercial Property next US bailout industry?
photo credit: °Florian C’mon you can’t be serious but that’s what the lobbyists are looking for with commercial property in dire straits in the US. The NY Times reports: Just as home loans were pooled, then carved up and sold to investors as securities over the last two decades, commercial property loans were repackaged for the financial markets. In 2006 … Read More
Rudd’s Carbon Cop Out
Still in shock at the ALP’s audacious handout to the nation’s biggest polluters, we thought it time to broach a few of the details hidden within the 824 page Carbon Pollution Reduction Scheme (CPRS) White Paper. Billions of dollars of the commons is proposed to be given away by the climate scheme. Permanent and inalienable carbon permits will be handed … Read More
Renegade Economists Podcast 67
photo credit: madaboutasia Carbon Catchcry: this hour long special is our last formal show of the year, with an interview of Anna Rose (Australian Youth Climate Coalition) on Rudd’s filthy 5%. Also international guest Fred Foldvary discusses the insides to the GFC and what could be really done if politics was for people not cronies. How many policy papers will … Read More
Compromise Kev on Climate Change
photo credit: net_efekt Yesterday’s long awaited emissions trading white paper has left the future of the planet compromised. The compromises on the 5% cut to greenhouse emissions typifies a government torn between lobbyists feathering their nests and the public’s wrestling of the issues via the omnipresent public opinion polls. The trade-offs have been so extensive that no one is happy. … Read More