Your Book Review: Progress And Poverty
https://astralcodexten.substack.com/p/your-book-review-progress-and-poverty
[apparently, this later on won the contest]
Related from the author, Lars Doucet | Game Economy
http://gameofrent.com/
https://www.gamedeveloper.com/business/digital-real-estate-and-the-digital-housing-crisis
Understanding Economics: 4 - The Laws of Distribution
https://www.youtube.com/watch?v=lrClVfO4CpM
EVE Online: Game Economist Ramin Shokrizade explains the whole thing in his 2013 Gamasutra article, "How I Used EVE Online to Predict the Great Recession.
https://www.gamedeveloper.com/design/how-i-used-eve-online-to-predict-the-great-recession
Henry George Lecture Series
https://www.youtube.com/playlist?list=PLB1uqxcCESK7WucTqc4uBZ5hmXL6dz3cW
Interesting (and maybe encouraging) to see basic ideas on political economy come up in mainstream discussions on solving the current fiscal situation in the US. Instances:
https://youtu.be/wwJV_NuN43Y?t=4898
Peter Thiel mentioned about Henry George and current runaway rent problem in other countries as well. This is something that I've been observing as well as part of trying to find 'the place to live'. Interestingly he also mentioned about the need to continue govt spending to keep the 'Blue City States' like SF, NY, Chicago afloat. While I had read about their bleak fiscal situation, I'm not sure what happens when spending stops or reduces. Will these city govt default on their debt? We are living in interesting times!
Had shared these earlier with different people -
Canada - https://youtu.be/ZvSNcnG2eqY?t=64
UK- https://www.youtube.com/watch?v=BQ67YUcrIgw
US - https://www.wsj.com/lifestyle/careers/high-earner-not-rich-yet-finances-fb8ae842?utm_source=pocket_saves
EU (Not exactly land though, but related)- https://twitter.com/itsolelehmann/status/1856759960648257765
https://youtu.be/4AIgn545PPA?t=2619
Separately, the likely next Secretary of Treasury (Howard Lutnick) talks about using mineral and oil to balance the budget partially. Also I didn't know federal income taxes were first introduced only in 1913 (the year Fed was formed!) Prior to that country was run on tariffs for like 100+ years (1789-1913)! There were some earlier attempts at federal taxes, but they were mainly to fund the Civil War and were temporary.
Related:
https://en.wikipedia.org/wiki/Harberger_Tax
Looks like the problems from 2008 financial crisis still exist and is currently masked by the Fed and Govt spending.
https://www.perplexity.ai/search/who-are-the-investors-in-us-tr-Fo8dGoJlSwu4J5PG.P2GRg
https://www.perplexity.ai/search/whats-the-securtization-volume-xiM5GaTfSd.ME1Iv.D4_xg
More:
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1001.pdf
- Nonagency securitization remains far lower than prior to the financial crisis, despite the much higher credit guarantee fees now charged by the GSEs.
- The housing crash and wave of mortgage defaults that precipitated the Great Recession also caused a freeze in the issuance of nonagency MBS in mid-2007. The market has partially recovered but nonagency MBS issuance remains far below pre-crisis levels even to the present day
- In contrast, the agency CMBS market has grown rapidly since the Great Recession. These securities have an explicit or implicit government credit guarantee, like agency RMBS, and are typically backed by mortgages on apartment buildings or other form of multifamily housing (e.g., senior housing, student housing)
- Who invests in MBS? The Financial Accounts of the United States provides a partial answer by tabulating investors in agency and GSE-issued securities, a category which mainly comprises agency MBS. As of mid-2021, depository institutions are the largest class of investors (32% of the total), followed by the Federal Reserve (23%), international investors (11%), mutual funds (7%) and money market funds (5%).
- The Federal Reserve is the single largest agency MBS investor through its large-scale asset purchase program, with total holdings of $2.5 trillion as of October 2021.
On LA Fire Crisis/Climate Change Events Impacting The Housing Market Through Insurance:
It hasn’t rained in 300 days in L.A., and the winds are exceptionally strong. When gusts at 100 mph are blowing sparks onto dry roofs and objects throughout a city, there’s just no way to stop a massive conflagration. The city will never be the same. But nationally, insurance companies are going to further pull back everywhere, since it’s pretty obvious climate change is fostering significant risk to property.
The daisy chain of consequences here gets quite dystopian; insurance is required for most mortgages, mortgages are required to keep the housing market going, and the housing market represents the main store of savings of most Americans.
Javier Milei
https://www.youtube.com/watch?v=8NLzc9kobDk
Murray Newton Rothbard
https://mises.org/online-book/rothbard-reader/chapter-11-monopoly-and-competition
Henry George & Land Value Tax | FAQs
https://bluerepublik.wordpress.com/2020/04/28/georgism-lvt-faq/
Details on Land Valuation
https://www.henrygeorge.org/ted.htm
The Book Review Guy - Lars Doucet
https://www.youtube.com/watch?v=sL-qkv7Pzxo&t=5s