The Washington Post April 21 headlines an article “Wall Street betting billions on single-family homes in distressed markets.” The article continues, “Drawn by the prospect of double-figure profit margins on rents and the resale of homes whose prices plummeted in the crash, hedge funds, Wall Street investors and other institutions are crowding out individual home . . . → Read More: How to Fix the Great Real Estate After-Bubble
The internet, it has long seemed, frees us from the bounds of location. We can work from home. We can shop in London or Tokyo. On Skype, we can chat with friends in Sydney, Australia as if they were next door. Meanwhile, Mozy.com backs up our computers to a bank of servers in Texas.
As . . . → Read More: Can Cyberspace Liberate Us from Earthly Space?
Land bubbles of varying severity and universality recur roughly every eighteen to twenty years. Like Henry George, modern Georgists attribute recessions and depressions to these bubbles. A huge real estate bubble of the 1920’s preceded the Depression of the 1930’s. That bubble actually began to burst in 1926, three years before the stock market crash . . . → Read More: Why Georgists Corrected Predicted the Crisis, and Why Conventional Economists Couldn’t
Economists conventionally attribute the Great Depression to blunders by the then-new Federal Reserve Bank. According to this story, promoted by Milton Friedman and the Chicago School, after the stock market crash of 1929, the Fed kept interest rates too high, strangling the economy. This story made most economists confident that it couldn’t happen again.
But . . . → Read More: The Great Real Estate Bubble of the Roaring Twenties