This story was written by Michael Lardelli.
ABC's Counterpoint did another Wendell Cox interview on Tuesday.
This time Cox is blaming the subprime crisis on urban consolidation! (LOL!) Have a listen and a good laugh. It is minutes 21-33 of the mp3 file).
Presenters Michael Duffy and Paul Comrie-Thomson's attempts at contrarianism are becoming so lame that they are beginning to look like self-parody! Quoting Donald Rumsfeld? Give me a break!
The program directors must have a shortage of ideas to have trotted out Wendell Cox, yet again, to push the "I love suburbia" theme. Now Wendell is blaming the US mortgage crisis on urban consolidation!
What I am wondering is how high the price of oil will have to rise to ensure that Wendell will not be able to board a plane to Australia again and we can be spared his Property Council style nonsense.
Wendell says, "There's no reason why expansion could not continue." (Over and over again like someone flogging another slimming device on late night TV).
The one word he never mentioned was OIL. The Counterpoint presenters didn't mention it either but then I understand that they may be naively waiting for the high oil price to stimulate new discoveries (or a new energy- efficient technology that will save the world) so that the remorseless growth in consumption and population can continue.
Here's an appropriate newsflash fresh from www.energybulletin.net:
"Saudi Arabia's King Abdullah said he had ordered some new oil discoveries left untapped to preserve oil wealth in the world's top exporter for future generations".
Yes, the Saudi's don't want to increase production to preserve the high-consumption lifestyles of drowning-in-debt Australians (or Americans for that matter). As the limited nature of the world's resources begins to become evident (yes Michael there ARE "Limits to Growth" after all - even the Wall Street Journal published recently on this) then nations are beginning to conserve their resources instead of digging them out of the ground as fast as they can. They know the resources will be worth more in the future, but that price will fall if they raise production now.
Looks like the only way to solve the housing crisis (without exacerbating the water crisis and other looming resource limitations) is to stop population growth!
In a way I feel a little sorry for Michael and Paul, because it will soon become apparent, even to them, just how ridiculous some of their ideas are (especially suburban expansion) as the oil crisis accelerates.
They will not recognise the world in 10 years time.
I have downloaded the mp3 file of the 15 April Counterpoint and I will seek the program announcers out, Chaser-style, in 10 years time, set up loudspeakers in front of their houses (or lean-to, or cardboard box or wherever they will be trying to survive) and replay their programme for all to hear. It should provide a few moments of comic relief for their neighbours, if not for Paul and Michael!
Recent comments