It’s always seemed to me that when we get finance and the economy right, everything else falls into place. We can then address all the other persistent societal ills.

There are always jobs available, plenty of leisure-time, and people ‘retire’ securely into financial stability.

Within this prosperity, education and health burgeons, science directs itself more easily into addressing the future. The arts blossom.

The demanding speculative need “to provide for the family’s future” abates as super-profit/surplus product/economic rent is directed to benefit everyone.

To be able to achieve nirvana, we first need to free ourselves from limpet-like millstone labels clinging around our necks: ‘capitalism’; ‘socialism’. …….. There is a synthesis.

In comparison to the comment “we’ll stagger along badly from this point until the final depressionary trough in 2026 ” (in my second-last post), Phil Anderson sees a recovery in a year-and-a-half to two years–against the current herd mentality–before land prices crash about 2026.

Anderson is worth watching in Martin North’s discussion, because he does understand the role of rent and land price in the workings of the economy.

https://www.bbc.com/news/uk-scotland-51832504

OK, this website is called ‘The Depression’, so what do I think’s going on?

For most recessions and economic depressions, it’s rarely the sick economy itself and the ‘2 consecutive quarters of declining GDP growth’ which are emblematic of recession. There’s usually a ‘Black Swan’ event, something out of left field, accompanying the economic numbers, whether it be the OPEC crisis in the 1970s, or some other startling factor.

It’s pretty clear for anyone to see that the coronavirus, COVID-19, is our Black Swan: we’re in for a major recession.

The 25% decline in Kavanagh-Putland Index in 2018 had forecast a recession by June 2020. Unless the economy is fed rapidly by such as the Rudd government’s $50 billion-plus stimulus from 2008, recession will set-in up to 2 years of the 25% decline occurring in total real estate sales to GDP.

OK, so where are we now? I’m not 100% sure, but it’s looking too big to be the Georgist ‘mid-term’ recession, usually found between the approx 18-year real estate cycle (i.e. between the years 1972-1990-2008-2026).

Could this be ‘it’, that is, the depression?

Probably not, but it’s going to be big!

In my opinion, we’ll stagger along badly from this point until the final depressionary trough in 2026. “But aren’t we going to pull out of this in a couple of years?” Yeah, nah!

This has certainly been a greatly extended Kondratieff Wave!

It’d be nice if our political representatives grew up and started to realise that the generality of humanity matters just as much as banking and the 0.1%.

Maybe if they began to work on the four big things that need to be universally recognised?

….. but it looks like Australia is leading the world out of any ‘bust’!

A bit of an All Ords tumble?

And it got worse at the close!