Why is there more poverty now, even though we have seen so much progress?
The question asked by Henry George in his book "Progress and Poverty" written in 1879.
Because there is an Investment Cycle,
The Cycle is 18.6 years,
The Ultra Rich will do just about anything to ensure the general public aren't aware of it.
The Good Old Days
There was a period when the Lord of the Manor paid taxes to the King. All his workers lived on his land, born there, built their houses there, raised their families there, tended his crops and herds, paid no tax and didn't live in poverty. When the got old, their kids looked after them, on the Lord of the Manors property.
Things changed.
Fred Harrison in his 1982 book "The Power in the Land", shows the 18 year cycle has existed in the UK since 1600. In his book he predicted the 1990 crash, the 2001 recession, the 2008 crash, the 2020 recession..........
Henry George identified that a Tax System based on the Single Land Tax replacing all other taxes, would remove the speculation in land done by the Ultra Rich. A tax system which encourages property speculation is quite simply the main reason why there isn't enough affordable housing and why a growing number of people live in poverty.
Mason Gaffney in his book "The Corruption of Economics" identified when the Ultra Rich co-opted a small group of economists to re write the basics of economics. In Adam Smith's "Wealth of Nations", Smith identified the 3 components of an economy, Land, Labour and Capital. The small band of economists recruited by the Ultra Rich, re wrote the components as Labour and Capital. The 3rd element, Land, the thing that generates the greatest wealth to the Ultra Rich, was deliberately written out of the text books. We were then taught Keynesian economics, Monetarists economics, and all the other jargon economics that virtually no-one can understand, and certainly has not helped make the world a better place to live in. The proof it hasn't worked - We still have Booms and Busts, so the current system isn't working for normal people. But the Ultra Rich love it. When the Rockefellers and the other 1920's billionaires sponsored universities, why did they require that "Poverty and Progress" be removed from the curriculum?
The US Land Cycle, was identified and written about extensively by Homer Hoyt in the 1920's, Roy Wenzlick, Fred Foldvary, Mason Gaffney and many others continued to document its continuation.
In 1992 Phillip J Anderson read "The Power in the Land". He then built further on the knowledge of the 18 year Investment Cycle in the USA. He covered the history in detail, created his Property Clock for investors showing how it ties it in with the stock market as well, in his book "The Secret Life of Banking and Real Estate". The book documents the cycle from its commencement in 1800. I first heard Phillip speak in 2009, at that time he predicted the US share market would start to recover in 2010, US housing would start to recover in 2012 and the next recession would be around 2019/20.
This 18.6 year Investment Cycle, which commenced in 2009, is turning like a Swiss Watch.
If it continues to follow the same pattern as all previous cycles we are likely to see a peak in property/land prices around 2026 and a crash in 2027.
Don't say you weren't warned.