Contrary to political group think it was actually access private debt not public debt that brought the economy crashing down. But today private debt is again raging and nobody seems to want to address the issue. On the 10-year-anniversary of the Global Financial Crisis, anthropologist and author, David Graeber and former chairman of the now abolished Financial Services Authority, Lord Turner sits down with co-founder and presenter, Ross Ashcroft, to discuss what is preventing us from talking about the taboo that is Britain’s private debt problem.
After the Global Financial Crisis, developed countries all over the world have created housing bubbles to prop-up their ailing economies, driving up prices, forever locking young people out of the market, diminishing their chance of financial security. You would be forgiven for thinking housing is the problem. In reality the problem is not housing but land. We explore why a land value tax is the only way to ensure prosperity for future generations.
Britain is in the grip of a housing crisis. But contrary to some Daily Mail speculators, the bricks and mortar economy is not going the way of Japan, circa 1990. Economist, Neil Wilson, explains why the same economic and political forces suppressing Japanese prices will keep British prices artificially inflated for the foreseeable future.