Is Britain at the peak of a great financial wave? скачать в хорошем качестве

Is Britain at the peak of a great financial wave?

In this podcast, I talk with John Christensen, co-founder of the Tax Justice Network, about whether Britain can escape the final stage of a decades-long inflationary cycle without social and political rupture. We explore Jersey as an early warning of the “finance curse,” the extraordinary scale of the housing shock, the generational wealth divide engineered by decades of rising house prices, and why younger people are locked out of economic security. We discuss how government policy helped create the crisis, why zombie banks are now vulnerable to falling asset prices, and what the end of a long inflationary wave has meant throughout history. We end with the reforms that could save Britain: mass social housebuilding, capital controls, redirected savings, and democratic control of credit creation. The choice now is stark: reform or rupture. 00:00 – Intro: Richard Murphy & John Christensen reunite 02:00 – Jersey in the 1980s: a microcosm of inflation and the finance curse 06:00 – How an overgrown finance sector crowds out real economies 09:00 – Who inflation harms most: young people and housing costs 12:00 – House prices then and now: 1956 vs 2025 15:30 – Two incomes, higher lending multiples, and lifetime mortgages 19:00 – The rise of renting in retirement and extraction through rent 22:00 – Property wealth, pensions, and the breakdown of productive investment 25:30 – Reconnecting savings with real investment and social housing 29:00 – National mortgage system and US-style lifetime fixed-rate loans 32:00 – Banks, bailouts, QE and the need for capital controls 36:00 – National payment systems, public banking, and deleveraging the banks 39:00 – Great waves of inflation and historical warnings 42:00 – Broken politics, neoliberalism’s failure, and the need for new thinking 45:00 – Urgency, Rachel Reeves’ budget, and closing reflections TRANSCRIPT A transcript for this video is available at: https://www.taxresearch.org.uk IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. https://www.taxresearch.org.uk/Blog/2... HOW TO SUPPORT US Please consider donating: https://ko-fi.com/taxresearch ABOUT RICHARD MURPHY Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’. This video was edited by Thomas Murphy. RICHARD MURPHY ON BLUESKY: https://bsky.app/profile/richardjmurp... OR ON MY BLOG: http://www.taxresearch.org.uk/Blog/ HIT SUBSCRIBE & GET NOTIFICATIONS Subscribe and get notified of new videos released. INTRODUCTION:    • Welcome to my channel - Richard J Murphy -...   PLAYLISTS: The Wealth Series    • The Wealth Series   Ecenomics    • Ecenomics   Britain    • Britain   Tax    • Tax   MMT    • MMT   Money    • Money   Climate Change    • Climate Change   USA    • USA   Labour    • Labour   The Trump Administration    • The Trump Administration   #HousingCrisis #FinanceCurse #InflationWave #BankingReform #CapitalControls #UKEconomy #YoungPeopleAndHousing #PropertyBubble #RentierCapitalism #NationalInvestmentBank #PublicHousing #SocialJustice #NeoliberalismFailed #TaxJustice #AffordableHomes #PensionsCrisis #AssetPriceInflation #MonetaryPolicy #RachelReeves #FundingTheFuture