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


"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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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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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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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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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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