The Liquidity Network group, which is developing a debt-free currency, submitted this entry to the Your Country, Your Call contest, which will award two €100,000 prizes later in the year. An article in the May issue of Construct Ireland magazine about the group’s plans is here.
You can also download a powerpoint file of a talk that Richard Douthwaite recently gave at the Degrowth conference in Barcelona here.
Capital Partnerships: a Debt-Free Solution to the Property Crash
a lecture by Chris Cook
Date: 7:00pm, Wednesday 5th November, 2008
Venue: McClelland Room, Central Hotel, Exchequer St, Dublin 2.
Entry: 5 Euro Feasta members, 10 Euro non-members
Chris Cook, an international expert on Open Capital and a widely published energy market consultant, discussed his ground-breaking ideas for capital partnerships, a financing structure that could provide a debt-free solution to the Irish property crash.
The global financial crisis has highlighted the urgent need to refinance trillions of euros’ worth …
Property prices have fallen by 6% and tax receipts are down €600 million in the first quarter. Panic is beginning to take hold. Expectations of soft landings are fading as developers slash selling prices and buyers hold off till things settle. Architects-the canaries of the building industry-are being handed their P45s as developers close up shop, bank their land and migrate to London to build the Olympics. The banks meanwhile are frightened to lend to each other as their security and assets are revalued in an atmosphere of suspicion and uncertainty. All these factors are leading to a credit squeeze and recession. Whether this recession will be short, a simple overdue correction of an overheated property market, or whether it deepens into a serious economic depression, depends on how the government reacts.