My latest piece in The Guardian
Why would banks fund risky business expenditure when they can simply keep the housing ponzi going? If we made housing less attractive tax wise they'd have to start investing elsewhere. It would help society enormously.
A few years back I thought the financial sector had got so big it was actually ‘crowding out’ the market.
Thought of it similarly, I characterised it as ‘eating itself’ ultimately.
Why would banks fund risky business expenditure when they can simply keep the housing ponzi going? If we made housing less attractive tax wise they'd have to start investing elsewhere. It would help society enormously.
A few years back I thought the financial sector had got so big it was actually ‘crowding out’ the market.
Thought of it similarly, I characterised it as ‘eating itself’ ultimately.