Monday, October 20, 2008

For when we climb out of this hole: Citizenisation

The UK's Sunday Times (ST:19 Oct 2008) covers the various crises that any reader of The Free Lunch (TFL) would have been ready for since its publication in 2002. They would also be familiar with The Free Lunches’ solutions that would bring the hope that such cataclysmic times need not recur.

• The ST has a letter from James Glover about the way the Bank of England has ignored house price inflation when setting interest rates (see TFL p.141).
• A ST article reports that major house-builders Barratts and Taylor Wimpey are trying to sell thousands of acres of land: Where they not aware of the approaching end of the 18 years land price/house price cycle? (see TFL p.113).
• There is much newsprint on the ongoing banking crisis which is a culmination of many years of wild spending of money that banks make out of thin air (see TFL p.43-46).
• Also - the need to address the shortfall in income for those reliant on dividends from bank shares (see TFL ch 3). The Australian government is reported as counteracting a bleak Christmas by giving special payments to pensioners and families (TFL ch 3).

When we start to surface from the abyss of this multifaceted crisis what direction will be headed in? Will the state be more fully in control or will we be? The Free Lunch calls the second way citizenisation – a cumbersome word for a neat idea. It is practical, it is very hopeful. Is it possible? Read The Free Lunch ( and make up your own mind.

No comments: