The Michael Hudson Series - Part 1 - The Housing Market

[mrzack888]

so this is why the rent is so damn high in this cuntry!!

[napoleon2632]

we're being educated throught the net. If wasn't for the net we'd have to pay a fortune for this information.

[choobie12]

We must ensure the brain drain, for extra lulz.

[mphello]

Michael Hudson desperately needs to show on a blackboard

the mathematical definitions, terms, and equations which relate those terms.

It is nearly impossible to understand what he is saying otherwise.

[mmauser13]

Many thanks for trying to come up with elegant solutions to help ensure a safe, stable and secure society. Something which has been lacking for many decades now for whatever reason. A quick comment on the entire 4 part series :)

[mamafanfan]

i love this guy! Real Estate speculation make simple.

[LastReplaySC]

in germany if you hold the building for at least 3 years you dont pay speculation taxes, with other word property gamblers don't pay taxes they dont realy invest in the buildings, and only in repairs that are all tax deductable and labled as property investment. its a pyramid sceme where building are falling apart with tenant in them and ever 3 years some one does a paintjob..... or replaces some brocken pipework ........ they are falling appart and are totally overvalued

[CusterFlux]

Excellent Interview! Thanks - some production notes:

Lighting - nice soft 3K's good, but a little too flat, and where's the kicker? You gotta back light.

Black background is ok, but either go all black, or do some very dim cool blue stuff in the back, I know it's a cliche, but it works.

[goatman257]

Hudson is doing a great job, Keep up the good work.

[123web]

More of Michael Hudson, please!

And perhaps you could even get a few of the other gang8 members on board!

[dilbertgeg]

Land went up exponentially AS THE RESULT OF PRESSURE OF CHEAP CREDIT for buyers and mortgage investors, people making a fast buck off property, creating crisis of high home prices & high living costs, leading not to prosperity but to *DEBT PEONAGE* for vast majority.

Good homes valued @ $10,000 in 60s inflated many times over decades, as wages flattened or declined. Total value of the housing market doubled from 2000 to 2007.

Poor peoples' lobbyists did not orchestrate this situation.

[yawnballsscratch]

dilbertgeg, agreed. It's now gone full circle - there are plenty of "good homes" in Michigan back for sale @ $10,000 now. Only problem is, the $ trillions of debt still attached to them.

They govt should write-off the debt, just as they should have done with the 3rd World.

So, no hope in hell of that happening, just as it didn't in the 3rd World...

[dilbertgeg]

you said:

The govt should write-off the debt, just as they should have done with the 3rd World.

you mean:

The Banks should write-off the debt, just as they should have done with the 3rd World.

or the govt should step back and make them, while shoring up PENSIONS instead of CEO salaries

[yawnballsscratch]

Yes and no: you're correct that it is the banks who hold the debt. But the government are the only body who can force them to write off the debt, either by allowing them to go bankrupt (which they should have done), or by legislating an amednment to the banking charters that they have grant to the banks.

Without govt intervention, banks will merely hide behind their charters, the central bank, the BIS and Basel II, stating that they are not permitted to write off the debt.

[dilbertgeg]

-- Without govt intervention, banks will merely hide behind their charters, the central bank, the BIS and Basel II

----

AGREED.

The banks staff both sides of the regulatory table. We never should have let all these parasites take over via corporate rights, and I don't mean welfare moms getting $100.

[yawnballsscratch]

I remember children watching LiveAid on Christmas Day and being so upset that they gave over their pocket money. While the banks sat back and jacked up interest rates, with Volcker's blessing, reaping huge profits from thin air, and watching human beings starve to death.

To this day they refuse to write off the debt.

To be a banker or a politician truly means selling one's soul to the Devil.

Money is just a concept people need to mentally free themselves from these fictitious chains

[LastReplaySC]

@yawnballsscratch they rather pump up the bubble and give away cheap money to the investment banks rather then scrubbing the debt. otherwise the ponsy sceme would collaps and we dont want the public to actually become debt-free! That would tottaly fuck up thier RACKET, wouldn't it now.  no debt no money because effectivly the only thing that is backing money is to be paid future DEBT.

[blkcola]

@LastReplaySC - It's certainly no democracy: It's Plutocracy and Kleptocracy. What does he mean by the statement he makes at 0:34 , "Whatever the tax collector wishes is available to be paid out to money lenders". >???

[AlcyoneMagi]

Thank-God someone is giving this brilliant man video time and place.

[siddhaam]

this man knows his stuff.

[nickglais]

thanks for publishing this