tag:blogger.com,1999:blog-9716997.post7687576507900508554..comments2024-03-15T23:30:38.471+11:00Comments on Lindsay's Lobes: Saving a nation from debtLindsay Byrneshttp://www.blogger.com/profile/11030132436987752741noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-9716997.post-26510285547064443792008-04-15T19:35:00.000+10:002008-04-15T19:35:00.000+10:00Hello, Lindsay.I first read this about a week ago,...Hello, Lindsay.<BR/>I first read this about a week ago, but I wanted to let it sink in a bit before I commented.<BR/><BR/>There were some peculiar indiscretions in the housing market that led to the current crisis, and a lot of that had to do with the fact that housing ceased to be about housing and became a matter of speculation.<BR/>In the US, the avg price as a percentage of income is at an all time high.<BR/>Removing the independence of inspectors contributed heavily in this.<BR/>And the ratings agencies were eager to give high ratings to risky debt.<BR/><BR/>I suppose it seems a lot worse than it is because of that multiplier effect, that debt instruments were bundled and resold a few times, giving the illusion of the creation of more and more wealth all around.<BR/><BR/>This post was rather enlightening, in that the whole phenomenon is one more of wealth redistribution, with the open market as the means.<BR/><BR/>As for cap and trade schemes, I believe it's a good idea for the short-term, but my concern there is that there has to be a hard time-out date.<BR/>I believe that once it's enacted the time-out date will be moved back again and again as to be meaningless.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9716997.post-9294070830226414912008-04-11T23:27:00.000+10:002008-04-11T23:27:00.000+10:00Hi Seraphine, Susan & Cart Thanks for your visit a...Hi Seraphine, Susan & Cart <BR/>Thanks for your visit and thoughtful comments. <BR/> <BR/>Apart from a Carbon trading scheme which will penalize carbon emitters there are many tax credits and advantageous already given to heavy carbon emitting sectors that no longer need apply.<BR/><BR/>They represent significant savings if eliminated which could be applied to more investments in energy savings alternatives, particularly universally in households with the beauty it would be a relatively labor intensive whilst the elimination of the subsidies in the highly profitable capital intensive industries will only cause a minor reduction in employment for those sectors.<BR/><BR/>I don’t think its too late Susan, but as cart has said it's a pity we have waited so long!!<BR/><BR/>As to the Love of credit, I have posted a somewhat light hearted yet factual new post about this affair-not dissimilar to what you have suggested.lindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-42373137379898873002008-04-11T03:10:00.000+10:002008-04-11T03:10:00.000+10:00"A period of love for credit"That's an interesting..."A period of love for credit"<BR/><BR/>That's an interesting phrase you used. So this is what happened to the Age of Aquarius? Reaganomics? <BR/><BR/>You love your neighbor, but defer the payments until Christmas?Seraphinehttps://www.blogger.com/profile/06527934346602655741noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-89879754727095384902008-04-10T17:22:00.000+10:002008-04-10T17:22:00.000+10:00I'm not sold on carbon trading in the long term, b...I'm not sold on carbon trading in the long term, but it does have the potential of driving a greater awareness.<BR/>It's just a shame we have stalled so long to start this first step.Cartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-53367508034078571532008-04-09T13:29:00.000+10:002008-04-09T13:29:00.000+10:00It's definitely an idea long overdue. We were just...It's definitely an idea long overdue. We were just discussing how Rachel Carson wrote 'Silent Spring' near enough to 40 years ago and Upton Sinclair equally long ago wrote with great clarity about slaughterhouses. For all those years and longer we've been aware of sustainability but the agricorporations were just getting started back then. In recent decades they've gone into overdrive and now, when things really are getting nasty for everyone, I wonder how much can be done to avert catastrophe.susanhttps://www.blogger.com/profile/16747450215034568033noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-81393945746261881772008-04-08T12:01:00.000+10:002008-04-08T12:01:00.000+10:00The trick is making carbon reduction economically ...The trick is making carbon reduction economically feasible. If tax credits are available, they should be supported. Tax credits, after all, currently stimulate corporate investment spending as well as research & development. The use of tax credits isn't anything new. Enacting penalties for carbon producers should be part of the process.Seraphinehttps://www.blogger.com/profile/06527934346602655741noreply@blogger.com