David McWilliams as written an interesting article about the land problem in Ireland and how it devalues the currency in our pockets: Paying a mortgage, not rent, is dead money in today’s world.
“Irish banking operates a land standard. The soaring price of land and houses are intricately linked to the profitability of our banking system and as such, both are part of the problem.”
Hmmm… I like this man’s thinking. The article make an awful lot of sense.
Thanks to Donncha O Caoimh for the link.