All posts by Bryan Kavanagh

I'm a real estate valuer who worked in the Australian Taxation Office (ATO) and Commonwealth Bank of Australia (CBA) before co-founding Westlink Consulting, a real estate valuation practice. I discovered, by leaving publicly-generated land rents to be privately capitalised by banks and individuals into escalating land price bubbles, this generates repetitive recessions and financial depressions. We need a tax-switch: from wages, profits and commodities onto economic rents/unearned incomes, if we are to create prosperity and minimise excessive private debt.

Australia has decided

We’re going to try to reflate the bubble in land prices

Sell more home loan credit – at any cost to the economy!

It is literally this decision that has been decided, because Henry George showed wages and the return to capital goods are are what’s left over after rent [bigger mortgages] has been extracted.

Undoubtedly, the Morrison government will now try to keep the property bubble from deflating further–as per the Rudd-Swan government’s $50 billion plus expenditure from 2008–if a recession is to be avoided. But it’s too late now, ScoMo!

The answer lies here, but it’s too difficult for politicians to carry through, so batten down, folks!