Tuesday 11 February 2020

Lazy rich rent-seekers

Asset-Price Inflation and Rent Seeking https://michael-hudson.com/2019/10/as...

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At 11 February 2020 at 12:46 , Anonymous Anonymous said...

Mexico Is Showing the World How to Defeat Neoliberalism
Ellen Brown Feb 06, 2020


"While U.S. advocates and local politicians struggle to get their first public banks chartered, Mexico’s new president has begun construction on 2,700 branches of a government-owned bank to be completed in 2021, when it will be the largest bank in the country. At a press conference on Jan. 6, he said the neoliberal model had failed; private banks were not serving the poor and people outside the cities, so the government had to step in."

... a good read

At 12 February 2020 at 00:04 , Anonymous Anonymous said...

The Great British Mortgage Swindle – [1:43:15]


"Set in Nottingham, Newcastle, Leeds, Coventry, Edinburgh and London, The Great British Mortgage Swindle is a coruscating, shocking and utterly compelling documentary feature film about the nature and effects of institutionalised mortgage fraud and the state-sanctioned brutality of genocide by eviction.

Eight years in the making, the film chronicles the extraordinary, harrowing, yet ultimately uplifting struggles of five pioneering lay litigants, as they battle to save their homes from being violently repossessed under the purported authority of entirely fraudulent mortgages and void court orders; whilst the officers of the banks responsible for these crimes enjoy the protection of a judicial system that is obviously rigged in their favour.

What makes TGBMS a must-see documentary is that it shockingly demonstrates that virtually every one of Britain's 11.2 million registered mortgages is illegal, void and unenforceable because it was either signed without a loan having taken place, or without a witness being present at the moment of execution; which entitles every one of Britain's void mortgagors to be compensated by the Land Registry, for every penny they have paid out under false pretenses.

The incendiary film by the Michaels of Bernicia and Deira has a relentlessly compelling narrative, which culminates in a genuinely uplifting finale, when, against all the odds, David slays Goliath in her majesty's courts and a grass-roots movement to end institutionalised mortgage fraud and genocide by eviction is born."

Rentier Britain: All the rent goes to the 1%


"There are three fundamental issues that lie at the heart of our current economic malaise: the first is unearned income and wealth from land rent, the second is the creation of money by privately owned banks, and the third is rent-seeking that is used to juice profits out of intellectual property through copyright and patents.

But the political class, supported by lobbying, continues to avoid addressing these issues. So monopolies grow larger and larger, and as they do, more and more people are excluded from the economy.

To really address the root causes, why don’t we start by calling out the rentier economy as a structural issue that no progressive society can actually afford?
Host Ross Ashcroft is joined by economist, author and co-founder of Basic Income Earth Network, Professor Guy Standing to discuss rentier capitalism and reclaiming the commons."

Renegade Inc. with Ross Ashcroft + guests


...there are quite a few good shows at the link

At 12 February 2020 at 09:59 , Anonymous Anonymous said...

Mortgage lending statistics - December 2019


"Latest findings

The outstanding value of all residential mortgage loans was £1,486 billion in 2019 Q3, 3.9% higher than a year earlier.

The value of gross mortgage advances was £73.3 billion, broadly unchanged in comparison to 2018 Q3.

The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 1.1% higher than a year earlier, at £73.8 billion."

Think of the profits made from the creation of money that the banks are engaged in. We should pay the banks a commission for doing the paperwork and managing the account and with the interest set at an amount the does not punish savers, the interest collected on the loans could be used to reduce or eliminate Income Tax or fund health care


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