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land speculation

A tale of three cities - and there's a sting in the tail

"This proposal by Ms Turnbull is just a diversion, an absurdity not worthy of being called a thimble and pea trick, but the agenda behind her smokescreen is worth examining. The GSC is a body set up by premier Baird who, you will recall, had been elected in 2011 on a platform of getting rid of what was undoubtedly the unaccountable and corrupt planning regime of the Labor government. But Premier Baird's promises of returning planning to the community and the councils was soon forgotten and his new government launched reforms that bypassed all community input. These proved to be so unpopular with the public that they were withdrawn and, instead, Premier Baird introduced the GSC, which essentially did the same thing."

20 July 10am Meeting to save Victoria Market from Council micro-management

Victoria Market, as we know it, is under threat. The City of Melbourne, along with the top end of town, has plans to reduce and gentrify our historic market, paying lip service only to its valued heritage and the important service it provides to the wider Melbourne community, in particular, its role in keeping food quality standards high, food prices down, while providing astounding diversity.

The Council’s intention is to:

sell off part of the market’s land for commercial development, road extension and other purposes
to build high-rise buildings at its immediate doorstep,creating tall walls and corridors around its perimeter
to shrink the market from 12 sheds to 5
to gentrify this historical market by cherry picking which traders will stay or go,
jeopardise &/or close small, family-run businesses by not renewing or extending leases beyond one year,
to create a gourmet food precinct and entertainment space.

In short the Council proposes to micro-manage a cultural change of the market, to change its size and shape and give itself free rein to make physical changes to its layout without further public consultation.

Things are no longer quiet around Highett

Here cdb poet, Brolga-Brolga, tells a moral tale of how a number of neighbours clubbed together to speculate on their adjacent land, but when they tried to buy again, they were already priced out of the market. With homage to Barry Humpreys who wrote The Highett Waltz, sung by Dame Edna, and linked to here.

The irony of the Vietnam War versus the Australian Property Bubble

The Vietnam War led by the US spanned most of the 1960s through to 1975. The famous motto “All the way with LBJ” developed as a result of Australian PM Harold Holt’s commitment to military support of the US led War in collaboration with Lyndon Baines Johnson, the US President.

The conventional political wisdom at the time was that the North Vietnamese “Commos” were simply part of a larger Communist “Empire” led by Mao Tse Tung; the Chinese Communist revolutionary and founding father of the People's Republic of China, which he governed as Chairman of the Communist Party of China from its establishment in 1949 until his death in 1976.

The War was controversial and based partly on something called the “Domino Theory”, which meant that Australia was exposed to the threat of invasion by the Communist Chinese. Once the Commos took South Vietnam we were done for.

Today Australia faces the irony of an “invasion” by the Capitalist Chinese. Their money is invading Australia.

Prices rise to absorb increases in income - Article by John Kosy

Here is a story that explains this concept. Thanks to our contributor, Matthew Mitchell, for alerting us to this brilliantly simple analysis of our current problem, originally published as a comment here. It is a skilled, yet easy to understand, critique of economic theory that underpins todays political policy and the similar adverse impact of globalisation on places as far away from each other as Bangladesh and Australia.

A Symbiosis Of Corruption And Ecological Destruction: Deforestation in Sarawak And Empire-Building In Ontario

Too often we fail to see the connection between the ecological destruction and cultural genocide of so-called "developing" nations and the lax immigration policies of those nations like Canada which play host to both the victims and the perpetrators of the tragedy. A look at the relationship between Sarawak's plight and the inflation of real estate values in Ontario, Canada and elsewhere should give us a better understanding of how plunder abroad promotes in-migration here. Canada, by offering an outlet to dirty money and the people who profit from it, must be seen as a willing accomplice and silent partner to a vast money-laundering operation.

We are being trapped by developers

Infilling and land-use planning in Victoria are simply forcible enclosures: "Enclosure involves more than land and fences, and implies more than simply privatization or takeover by the state. It is a compound process which affects nature and culture, home and market, production and consumption, germination and harvest, birth, sickness and death. It is a process to which no aspect of life or culture is immune. People too are enclosed as they are fitted into a new society where they must sell their labour, learn clock-time, and accustom themselves to a life of production and consumption; groups of people are redefined as "populations", quantifiable entities whose size must be adjusted to take pressure off resources required for the global economy. Women are enclosed by consigning them to the "unproductive" periphery of a framework of industrial work, which they can only enter by adopting "masculine" values and ways of being, thinking and operating. Skills, too, are enclosed, as are systems of knowledge associated with local stewardship of nature."

Salvos part of the problem now, it seems

The Salvation Army has joined a growing list of faith-based community aid organisations that have jumped onto the urban development bandwagon at measurable expense to wider community interest.

If you are financing a home, you will lose it - US trends

Click image for filmThis film reports on a steep decline in land and housing prices in the US and predicts that they will fall further - by 70 or 80%. It says that if you are investing in a house or simply buying one now, you are going to lose the house because it will lose speculative value. It says that Americans with common sense are simply staying away from buying houses, knowing that they can bring the market to its senses this way. It says that the winners in this will be those who need houses and will soon be able to afford them. The losers - the land speculators; the people who have made money idly out of homelessness; the bankers, the middleclass housing investment wannabes - will lose their money. About time.

John-Paul Langbroek and why the Liberal National Party won't survive unless Labor Governments reform

The Queensland Liberal National Party leader, John-Paul Langbroek tried to restore some democracy in Queensland last week. Perhaps it is because his party can see that if democracy is not restored - by restraining the pursuit of the ALP's private financial power through government - no other political party may ever have a chance to govern again, simply because the ALP has become so rich and its power so far-reaching, and arguably it is less a government than a commercial corporation. Langbroek's reforming initiatives have taken two forms: 1. to call for a referendum into privatisation and 2. to submit a bill to make inquiries into corrupt systems and specific activities in Queensland. Predictably this bill was killed by the ALP on the 2nd reading.
See also"Anti-privatisation e-petition calls on Queensland government to resign"

Bubble Economy 2.0: The financial recovery plan from Hell

Michael Hudson, argues that President Obama's 'recovery' plan will actually prevent recovery by diverting precious resources towards servicing debt thereby crowding out spending on goods and services. He argues that, instead, Obama should re-establish the practice of writing down of debts to reflect the debtor's ability to pay, restore the power of state attorneys general to bring financial fraud charges against the most egregious mortgage lenders, and for the re-establsihment of taxes on site-rental value, in order to discourage land speculation.

Originally published on Global Research on 11 Feb 09.

How to end Australia's dependence upon population-growth driven financial speculation

The collapse of the global house of credit-cards and consequent stalling of demand for our mineral wealth is beginning to show up how truly unproductive our economy has become after decades of 'reform'. How can we begin to repair the damage?

Rent gouging threatens Brisbane inner city retail community

Retailers who have, through their own hard work over the past three years, transformed a formerly run-down area of inner-city Paddington are now being driven out by excessive rent increases.

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