Tuesday, August 24, 2010

Land statistical reform

Some, like: http://irelandafternama.wordpress.com/2010/08/24/the-data-and-evidence-deficit-in-ireland/
think that land was the cause of the mess in Ireland. Proposals to gauge ecerything may not be successful.However, taxing land adequately would also solve the problem.

This greater availability of information of the land market, if successful, would mean that people who wished could say that land values are out of whack even more than normal in Ireland. So what? Those who do, will be invited to commit suicide by the political leader of the day!

Even if successful, one day in the future, the banks will lend and lend as fast as they can. What is bought could be bulbs, shares in a secret venture in the South Seas or plastic surgery. The point is that eventually, banks satisfy their market! It takes a long while. But it always has happened. Then, almost suddenly, but inevitably, after unconscionably long inflation, no one borrows and the asset class(es) deflate! The problem is not merely a peasant fetish for "land, more land!", rather it is greed, lack of regulation and banking!

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