"A Horse! A Horse! My Kingdom for a Horse!",

5/9/2020

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"A Horse! A Horse! My Kingdom for a Horse!",
as depicted in Act V, Scene 4[12] from the Shakespeare play Richard III.

VariationA
little neglect may breed mischief ...
for want of a nail, the shoe was lost;
for want of a shoe the horse was lost;
and for want of a horse the rider was lost.
--Benjamin Franklin
Poor Richard's Almanac, preface (1758)

Penny Wise and Pound Foolish, All champagne tastes and lemonade pockets and the Hubris of ego all lead to an inescapable conclusion " Richard the Third did not yell, "A unicorn, a Unicorn my Kingdom for a unicorn." Richard would have been riding a Heavy Horse.

In; We Work, Uber , Co Star , NewsCorp, Google, Amazon, and in our own Business the "Hedge Funds", "Multi Family" appellation we can identify the increasing rarity of Unicorns. It was always said that a rare thing might be as Rare as Rocking Horse shit, Unicorn Shit is even rarer.
Here is a Link to an aricle on My Grub Street News Blog from
August 10, 2019THE ISSUING POWER SHOULD BE TAKEN FROM THE BANKS AND RESTORED TO THE PEOPLE, TO WHOM IT PROPERLY BELONGS.” . . . “PAPER IS POVERTY. IT IS THE GHOST OF MONEY AND NOT MONEY ITSELF.”– THOMAS JEFFERSON, 1743-1826 “WALL STREET WALL STREET UBER ALES”.

Location, Location, Location, Debt Debt Debt ,Infamy Infamy Infamy.

Broad Money Index Sweden, US, Australia and UK , 2015 = 100 data.oecd.org/chart/5X1a

Swedish Property "Price" Index

United Kingdom House Price Index1983-2020 Data | 2021-2022 Forecast

source: tradingeconomics.com

United States House Price Index MoM Change1991-2020 Data |

source: tradingeconomics.com

Australia House Price Index QoQ2002-2019 Data | 2020-2022 Forecast

source: tradingeconomics.com

Sweden House Price Index2005-2020 Data | 2021-2022 Forecast |

source: tradingeconomics.com

June 7, 2011ARE BANKS FORCING A COLLAPSE IN THE PROPERTY MARKET.
Are Banks forcing a Collapse in the Property Market.

Coercive Aggregation.?
An Estate Agent made an interesting comment to me earlier He said he had 5 instructions that had final warnings from the bank reduce your asking price to a bear minimum or we will be re possessing. I think there will be a concerted effort in that direction coupled with rate hikes in the Autumn, conceivably that could be a very unpleasant shock the threshold for tolerable pain in the Market is very low judging by my own experiences and a sharp burst of rates at 4% or 5% would really put the icing on the Cake for the Banks repairing their own balance sheets by usurping other peoples property and thats what I think they are going to try to do.
The banks might start easing things off again Next Spring, there’s the Olympics in the UK the US election etc so a big feel good through second half of 2012 into 2013 ( maybe ), if they decide they want to keep their Guy Obama in the White House. I have come across a term Coercive Aggregation. It sums up what the process seems to be achieving Accident or Design? who knows , the results are only benefiting one entity though and that’s the Banks and the Globalists, bad news in the short term.
As David Cameron is hinting he feels he has a mandate for another 4 years we may have a longer period of pain in the UK when the Banks decide if David and Gideon have earned their Brownie points with the Older Rougher Boys who got proper jobs at the bank..
https://notthegrubstreetjournal.com/2011/06/04/condense-of-mortgage-reform-valuation-stuff-fir-ref-notes-in-progress/
The Economics of Repossession.
This post is an outline of a critique and policy document I wish to draft on what factors should regulate the actions of financial institutions holding mortgages secured on private homes, several areas of law will be considered as well as the arcane laws of repossession in the event of default. In short a manifeto on property debt reform anticipating a further banking colapse.
The Price of Everything and the Value of Nothing.
There is an old Saying, so goes the title of this blog, I have googled to find it’s origin here’s a text from the context ( I haven’t googled it yet } First a word on Price and a word on Value.
Are Price and Value the same thing and if not which one is worth more, is worth a measure of Price or a measure of Value or is worth another name for a measure. How circular is this argument in the lexicon of Whats in it for me?
Lets introduce another word, Market, the opposite of the word Market is actually Free Market. I found that suprising but as with Talebs Fragility analogy Anti Fragility so it is with Market the free Market is a sort of Anti Market a market where the artificial boundaries of the Market which suggests order are removed and the Anti Market is the one we all feel a Market Price level will be found.
Is there a difference between the Market Price and the Price of something is there an Anti Price, this is the trouble with Concepts or Constructs when you start off down this road. Anyway lets Google the title and see what happens.
( Let Me Google that for You ) http.
http://lmgtfy.com/?q=The+Price+of+Everything+and+the+Value+of+Nothing.
Discounting of Mortgage books of banks in the whole sale market, increases real interest paid by mortgage holders
Distressed Assets as Opportunities, Its an industry, 45 cents on the dollar is the cost of your mortgage.
http://www.danielldevelopment.com/acquisitions/
Banks are Banks on the basis that they have 8-10% capital ratios against the debt they issue. On this basis they issue 97% of the money supply through debt .
In practice with off balance sheet debt creation capital ratios are and have been proven to be more or less nominal purely discretionary inversely proportional to the Hubris of any particular institution.
When markets need to adapt, grow, or change, faster than their internal feedback mechanisms can respond, they cannot operate benignly – there is no time for “equilibrium” to develop. That is why most markets are suspended during times of emergency (war-time rationing) and some markets are overridden just to get things done.
Economic replacement cost for industrail stock valuations an unhappy Story, Lets not throw the baby out with the bath water though, Not just Yet.
http://economictimes.indiatimes.com/personal-finance/savings-centre/analysis/investment-themes-dont-take-investors-far-valuations-do/articleshow/6044735.cms
Replacement cost theory

Commercial property price indicators: sources, methods and issues 2017 edition

appraisal-based (127) appraisal (242) appraisals (91) approach (163) asset (246) assets (121) available (119) average (126) based (303) bias (82) building (133) buildings (126) capital (277) case (85) change (160) changes (159) chapter (107) characteristics (162) commercial (723) construction (155) cost (89) countries (117) CPPI (102) CPPIs (128) data (414) defined (76) depreciation (138) different (149) economic (80) economics (86) estate (322) estimated (113) example (132) expenditures (83) financial (84) Geltner (85) given (76) hedonic (258) income (127) index (950) indexes (77) indicators (142) indices (691) individual (88) industrial (83) information (207) investment (240) Journal (91) land (362) level (79) major (92) market (634) markets (87) method (159) methods (103) model (184) national (117) net (103) number (151) office (166) per (156) period (430) periods (100) pp (117) price (1108) prices (447) private (84) properties (536) property (1493) quality (148) quarterly (87) rate (128) real (361) regression (135) rent (207) repeat (223) residential (150) retail (82) return (165) returns (115) sale (110) sales (345) sample (127) section (81) sector (95) sources (85) space (89) statistics (102) stock (189) structure (164) total (133) transaction (316) transactions (184) type (107) types (81) used (223) valuation (132) valuations (130) value (541) values (201)

created at TagCrowd.com

Sharp falls in real estate prices have a detrimental impact on the health and soundness of the financial sector and on the financial situation of organizations, individuals and of individual households, by affecting credit ratings, the value of collateral, and the debt to equity ratio (7 ).
Footnote.
(7 ) An important related use that is not directly expressed here is as part of the Banks Capital adequacy requirements regime. Basle II and III, agreed upon by the members of the Basel Committee on Banking Supervision—a committee of banking supervisory authorities that was established by the central bank governors of the Group of Ten countries in 1974—stipulate particular approaches in terms of capital coverage for commercial property. Basel II primarily relates to the required level of bank loss reserves that must be held by banks for various classes of loans and other investments and assets that they have whilst Basel III primarily relates to controlling the risks for the banks of a run on the bank by requiring differing levels of reserves for different forms of bank deposits and other borrowings. In some situations / jurisdictions these capital adequacy requirements can be expressed in terms of ‘marked to market’, i.e. based on recording the price or value of a property or portfolio that reflects its current market value rather than its book value, the former being based on the most current market valuation updated using appropriate property price indices.

Ruskin Put it this way in 1865, how little things have changed.John Ruskin, Unto this Last 1860, Critique of Classical Political Economy.
´´Pardon me. Men of business do indeed know how they themselves
made their money, or how, on occasion, they lost it. Playing a
long-practised game, they are familiar with the chances of its
cards, and can rightly explain their losses and gains. But they
neither know who keeps the bank of the gambling-house, nor what
other games may be played with the same cards, nor what other
losses and gains, far away among the dark streets, are
essentially, though invisibly, dependent on theirs in the lighted
rooms. They have learned a few, and only a few, of the laws of
mercantile economy; but not one of those of political economy.´´
http://letthemconfectsweeterlies.blogspot.se/2014/08/government-of-poor-by-rich-for.html

There is a fine line between capitalizing on a trend and being consistently late to the market. Financially Engineering consistent and above average business success is far more complex than rocket science.”

James I agree with you it is no more complicated than very good luck or Fraud, take your pick the laws of chance preclude the former so it is usually the latter and this from John Ruskin, Unto this Last 1860, Critique of Classical Political Economy.
Pardon me. Men of business do indeed know how they themselves
made their money, or how, on occasion, they lost it. Playing a
long-practised game, they are familiar with the chances of its
cards, and can rightly explain their losses and gains. But they
neither know who keeps the bank of the gambling-house, nor what
other games may be played with the same cards, nor what other
losses and gains, far away among the dark streets, are
essentially, though invisibly, dependent on theirs in the lighted
rooms. They have learned a few, and only a few, of the laws of
mercantile economy; but not one of those of political economy.

“The 21st Century begins to look like a world populated mostly by conmen and accountants.”
James add in Lawyers and Bankers and you have a description of The Corporate Oligopoly and Middle Ground two party politics, That is the Lot of the people at the Beginning of the 21st Century.
We have the Potential to mark the beginning of the 21st Century with a New Renaissance
or we could mark it with a descent into a Carbon Taxing Dark ages.
The Internet might just be the means to a world in which Wealth really is
“The Possession of the Valuable by the Valiant”

ESSAY IV: “AD VALOREM,” SECTION 77.‘WEALTH, THEREFORE, IS “THE POSSESSION OF THE VALUABLE BY THE VALIANT”; AND IN CONSIDERING IT AS A POWER EXISTING IN A NATION, THE TWO ELEMENTS, THE VALUE OF THE THING, AND THE VALOUR OF ITS POSSESSOR, MUST BE ESTIMATED TOGETHER. WHENCE IT APPEARS THAT MANY OF THE PERSONS COMMONLY CONSIDERED WEALTHY, ARE IN REALITY NO MORE WEALTHY THAN THE LOCKS OF THEIR OWN STRONG BOXES ARE, THEY BEING INHERENTLY AND ETERNALLY INCAPABLE OF WEALTH; AND OPERATING FOR THE NATION, IN AN ECONOMICAL POINT OF VIEW, EITHER AS POOLS OF DEAD WATER, AND EDDIES IN A STREAM (WHICH, SO LONG AS THE STREAM FLOWS, ARE USELESS, OR SERVE ONLY TO DROWN PEOPLE, BUT MAY BECOME OF IMPORTANCE IN A STATE OF STAGNATION SHOULD THE STREAM DRY); OR ELSE, AS DAMS IN A RIVER, OF WHICH THE ULTIMATE SERVICE DEPENDS NOT ON THE DAM, BUT THE MILLER; OR ELSE, AS MERE ACCIDENTAL STAYS AND IMPEDIMENTS, ACTING NOT AS WEALTH, BUT (FOR WE OUGHT TO HAVE A CORRESPONDENT TERM) AS “ILLTH”, CAUSING VARIOUS DEVASTATION AND TROUBLE AROUND THEM IN ALL DIRECTIONS; OR LASTLY, ACT NOT AT ALL, BUT ARE MERELY ANIMATED CONDITIONS OF DELAY, (NO USE BEING POSSIBLE OF ANYTHING THEY HAVE UNTIL THEY ARE DEAD,) IN WHICH LAST CONDITION THEY ARE NEVERTHELESS OFTEN USEFUL AS DELAYS, AND “IMPEDIMENTA” ‘ (UNTO THIS LAST, 1860)

in the sense and context in which Ruskin developed it.
the quo plurinum possett for money as a means of exchange can not be realised where it is adulterated to the modern extent, no touchstone of economics can accept that the current tyranny is widely beneficial , indeed it is most unwise.
On Human and entrepreneurial ingenuity I agree with the original premise in this article move forward innovate and improve as Keynes said “if the facts change then so do my opinion”
Our Men Turin and Godel Gave us two great gifts we are only now slowly realising the profundity of.
The Computer is a very good way of keeping score and Money is no more than that and Stuff is made up of bits. And Godel gave us infinity, it drove him mad but should make all of us more humble.

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