Capitalism will Cra$h with or without Corona by 2028
- Theoretically, the momentum in the business cycle is sufficient to push the land market back to life once people get back to work. This, coupled with the volume of cash-and-credit now being pumped out by the world’s governments, will sustain the progress of the business cycle to the point where house prices will peak in 2026. That will precipitate the financial crash within the following two years – by 2028 – creating the conditions for a terrible collapse.
- Empirically, we can compare this pandemic with what happened in 1920, at the end of a world war. The Spanish flu pandemic killed 50 million people (some estimates put it at 100 million). This was far, far worse than the current situation. And yet, what happened?
- A new economic cycle began in 1920.
- Rents and land prices rocketed up in the UK, despite the fact that the cost of BUILDING new dwellings went down.
- The Florida land boom was a particularly notorious case of land speculation: people paying fortunes for sand dunes…
…and the outcome was the mid-cycle recession in 1929. The most notorious example was the Wall Street crash in that year. So, just 9 years after the Spanish flu catastrophe, there was a terrible economic recession.
My conclusion: one way or another, the global economy today will head for the collapse that I have long been forecasting. Which means that there is one way only to forestall the worst: begin the planning to introduce One-World Rent.
Fred Harrison – is a British author, economic commentator and corporate policy advisor, notable for his stances on land reform and belief that an over reliance on land, property and mortgage weakens economic structures and makes companies vulnerable to economic collapse. He is acknowledged as having predicted the 2008 subprime mortgage crisis, laying it out in his books as early as 1997.