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Is Crypto Really Going To Crash? (Yes) | Robert Reich

https://www.youtube.com/watch?v=TjIFkuPaA20

"Celebrities have been shamelessly peddling crypto.

In November, Mark Cuban said that Voyager was "as close to risk free as you’re gonna get in the crypto universe."

Voyager went bankrupt in June.

Believe me when I tell you this: They're selling you snake oil."

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author

I agree with the sceptics on crypto. Blockchain might be useful in some cases, although a lot can be solved with decent security on the usual databases.

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The HRC has asserted that there is an Article Three right to a 'decent home'. Should the Commission take a claim to the Tribunal? Perhaps a demand for a thorough Housing Capacity Assessment as the basis for regional planning?

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author

Interesting idea. Trouble is councils can simply say they're not funded for these centrally imposed requirements.

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As it is quite a sophisticated way of depriving women and children of their rights, assets, income and property and a method of flogging both off to languish and be excluded and often abused Governmeny has perpetuated and paid for it via failures in Justice, IRD plus more active sexual and physical , mental and other abuse like NZPolice, Oranga Tamariki, WINZ etc I don’t think Government has a social licence any more it’s such a dreadful and inhumane betrayal of their duties. If the majority don’t even vote this licence to operate is gone. I’d suggest they should all fix things for those of us effected adversely by them over decades and having had our human and legal rights ignored and unresourced adequately. This has been done quite purposefully to keep patriarchal control over women and remove children who are of no use to them or get in the way of a total focus and resource for these men to control and exploit themselves. Along with the Taliban here there is the cult working women and children for no pay but receiving subsidies plus profit of their businesses Gloriavale. What we have now is just a more covert version of that and in many cases even more sexual and mentally violent institutionally and ongoing. They haven’t limited it to 1999 for noreason it is still happening. A total legal, human rights and social, economic fail. No wonder kids at risk are completely detached from both families and communities. This Government has done NOTHING adequate by way of fundamental and rightful to change this trajectory for the most vulnerable.

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Yes. It seems to me that Councils can't (and don't) brush the NPS-UD aside, but they can weight the analysis to favour interests that sit inside the magic circle. As far as I know you have provided the most persistent critique of the evasiveness of public authorities when it comes to housing. It's good to see the HRC is being brought into the discussion. (I will listen to this podcast later. Maybe this has been covered already.)

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Aug 16, 2022Liked by Bernard Hickey

Listening to this made me really sad. Have we become so selfish that those of us who own homes (and rental properties) can vote only for our own best interests? Why is the government of kindness not feeling ashamed of itself? I wonder if banning property managers would help? If every landlord had to deal directly with their tenants and the hardship they are facing, if they had to arrange plumbers on a Sunday night, perhaps it wouldn't be such easy money? Never ending house prices is poisonous to society and will drive our children and grandchildren overseas or into poverty if we refuse to put the good of all above our greed.

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author

Agreed. Best to ask our PM about this. I have. She has shrugged and essentially said 'It is what it is'.

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Thanks for your interview, Bernard. And for trying to pin down the pm. Keep at it please. will keep tabs on the Human Rights Commission report as it rolls out.

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Ever considered the complexities of the new RTA and healthy homes standards? Maybe it’s easier to use a property manager to navigate these issues? Everyone wants to demonise the owners of rentals. How about blaming the successive Governments who have allowed this to happen. If your best return on investment is through housing why wouldn’t you’ve involved?

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The kindness mantra is shameless. It makes something curdle inside me. Good point you make about the property managers, Sonya.

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Aug 17, 2022·edited Aug 17, 2022

Yes these are good thoughts. Property managers do insulate the owner from the tenant, and they tend to bring in a whole "rent review" mindset. That said, there are good owners who hire managers, and there are bad owners who deal direct. It's hard to paint with a broad brush.

One thought is to make rental agreements more like commercial tenancies, with longer terms and right of renewal. If you have say, a 2 year lease with 3X renewals you get more security about not getting turfed out, and tighter rules around the basis and frequency of rent rises.

This last 6 months we need to wash rinse and repeat, and I'm keen to see this not be the bottom in the price drop.

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Issuing mortgages for housing to those too poor or excluded for whatever reason, too many children, no Child Support paid, credit issues or on a benefit, too old, a woman etc etc plus loans for everyone to get water tanks, solar systems retrofit or built in should not effect the BRR as low interest and flexible t&cs should enable housing to be built. Movable or not. Land needs to be made available and developed by councils possibly on a leasing basis as well as to purchase for smaller allotment/sections. Each NZ family could be given a garden and fruit trees with areas for markets in each suburb and town for selling, sharing or swap. Any benefit is going to exclude people from the banking system so Government needs to remain in that market servicing the unserved with no access if they don’t want homeless dependents numbers to increase. So it’s not just about money it’s about organisation and services. To do nothing is more expensive and causes more disruption and social issues.

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The establishment have created the conditions and enforced them to ensure women and children can continue to be vulnerable and without resource and support they’re entitled to in law and so children can be removed to be abused or left to their own devices as children. All very Faganish so now this needs to be rectified and compensated for including homes and property returned. We see the MO in the Abuse in Care hearings but sadly it still goes on pretending it’s lawful in every level of society with vulnerable women and their children as targets and without representation or rights while Hovernment agencies fail in their legal duties and obligations to them as equal citizens. It’s much like the Taliban here actually and any Government should be acting to fix that.

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Not Hovernment^ 😀

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Aug 17, 2022·edited Aug 17, 2022

I would be interested to see a more up to date graph on housing to income in the OECD, a lot has changed in the past 2-3 years globally, although undoubtably NZ is still on the right side of that graph. What I'm getting at is that this is an issue throughout the western world and NZ is not alone in it.

My colleague is about to move to the Netherlands to work for a prestigious university and can't afford the limited rentals available. It's looking like she'll have to flat with students while being a Professor. My friends in Canada had to shift into a small unpleasant rental because they got priced out of the home they had lived in for 4 years (they're full time professionals in the 30s, no kids). Where the previous tenants of their new rental have gone is anyone's guess :( I can't imagine how it is for those on benefits or minimum wage, its heart breaking. I know this is anecdotal, but the rising rates of homelessness in the US, Canada and Australia also show huge income stress when it comes to housing, during a time of low unemployment, enormous home building and low migration between countries. Something is deeply wrong and it's not just QE to blame.

US: https://www.redfin.com/news/investor-home-purchases-q4-2021/

Aus: https://www.theguardian.com/australia-news/2022/may/07/ive-never-felt-this-vulnerable-guardian-readers-share-their-rental-crisis-horror-stories

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