IT’S FUN HERE! I CAN SAY THE THINGS MAINSTREAM ECONOMISTS AREN’T PERMITTED TO SAY IF THEY WANT TO RETAIN THEIR JOBS.

….. WORTH THE LISTEN!

1. The Lower Class – people who do the vast majority of the nation’s essential work, plus those unable to work or who may be unemployed.
2. The Middle Class – people who work for a living in lesser but sometimes important jobs and some of whom also try their luck at rent-seeking, aspiring to join the upper class.
3. The Upper Class – those who direct their attentions to feeding off the net national income/rent owed equally to all citizens by denying this rightful distribution.

The problem with high land prices.

…. BUT IT WILL BE, BECAUSE NOBODY MUST SAY ANYTHING ABOUT A REAL ESTATE BUBBLE UNTIL AFTER IT BURSTS.

Meanwhile, it seems we must let, banking, real estate, media and our rent-seeking political ‘representatives’ continue along their merry way. We mustn’t interfere with Australia’s speculative interests until the bubble-burst happens.

OK then. However, on this occasion, it would be great if instead of bailing out the banks once they do go under, that the government of the day takes them over for their misdeeds, delivering Australians a universal income to steer them through the financial depression.

No? Too simple? We’ve got to keep bailing out banks and leaving people shackled to impossible levels of debt?

As a diversion until then, let’s all play along with the game of pretending the so-called ‘national debt’ is real debt?

You can expect plenty of that in the media!

Just sayin’!

Ross Gittens in THE AGE today.

To which, on X, I replied.

Surely, the man who wrote this advice must have been delusional: a madman, perhaps?

Mustn’t each one of us aspire to be indebted to banking or other usurers and rent-seekers if we are ‘to get on’ in life and the world is to continue to operate in the peace, happiness and security that it so obviously is now?

But isn’t it a little ironic that at a time when young Australians are finding it impossible to get a home, you cite “Judeo-Christianity” in your valedictory as having underpinned your beliefs?

1. We should tax things that we want less of.
2. Therefore, we need to tax land values and pollution.

(a) We fail to do this. We tax work and purchases, so we have less work, i.e. unemployment, and fewer sales/exchanges than we might have.

(b) As a result of under-taxing land values, we have high land prices, big mortgages and high levels of private debt.

(c) We also wonder why we can’t get on top of carbon pollution to manage climate change.

Therefore, we might ask ourselves who benefits from our misbegotten tax regimes.

These people, among a multitude of others, would agree.