Renegade Economists Podcast 58

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Show Notes R58

Recorded Wed Oct 15th

Aussie Knowhow – an interview with Agent John, telling it as it is from the street. John is one of the many self taught political economists concerned about the continuing plight of our policy makers and politicians. Have a laugh! Also covered is the staggering $2 – 5 trillion lost p.a from de-forestation…and more on the bailout.

Rudd wealth gap bailout – 1.5bn on FHOG, $14K on new homes built, $7k on existing homes. Will only lead to a subsidy for those who already own land, making housing more unaffordable!!!

The reckless stimulus package we didn’t need – S Mayne (Crikey 15/10)
What contingencies are in place if house prices plunge by 30%, our banks need to be recapitalised and the dollar crashes below US50c? The government only has $30 billion in foreign reserves, which is way below the Asian average, and has now recklessly distributed $10 billion before we really know the full implications of the meltdown.

Landlords ‘must cut rents’

“Many pay up to 50 per cent or more of their take-home income on rent,” QCOSS president Karyn Walsh said. “Reducing their rents will put more food on the table for disadvantaged families in Queensland.

She said many owners of investment properties with average loans would see their repayments reduced by $200 or more each month.

Nature loss ‘dwarfs bank crisis’
By Richard Black

“So whereas Wall Street by various calculations has to date lost, within the financial sector, $1-$1.5 trillion, the reality is that at today’s rate we are losing natural capital at least between $2-$5 trillion every year.”

A new dawn for Iran
By Chris Cook

Exponential economic growth required by the mathematics of compound interest on a money supply based on money as debt must always run up eventually against the finite nature of Earth’s resources – particularly carbon-based energy.

The problem – ‘peak credit’. The dollar-based global financial system is continuing a slow, and irreversible, collapse from the point – I call it “peak credit” – in August 2007 when the unsustainable US property price “bubble” finally burst.

Music

Thanks to the following artists for their inspiring work:
LAL – Alarm Interlude (feat Kamau)
Rio En Medio – Heartless

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