Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
paul spencer:
I support Chris Cook's ideas in every way, except that they won't happen either at this juncture.  We're just not evolved enough, however much some of the objective conditions call for his approach.

I think it depends on how the propositions are put across. And I don't think we actually have a choice, because the system of credit is terminally fucked IMHO.

First, Peer to Peer investment though unitisation offers a mechanism that wipes the floor with secured debt. Any bank or investor that does not use such a Debt/Equity swap mechanism to exit their crap loans will be at a disadvantage to those who do.

And the more who use it, the more liquid the "Pool" of Rental Units becomes.

Second, Peer to Peer unsecured credit which is interest-free, but not cost-free. What's not to like?

The Carnegie Institute liked the ideas....

Peer-to-Peer Finance: A Flight to Simplicity

Credit and investment may be achieved without the intermediation of banks. Since bank capital will be further depleted as the credit crunch spreads into the productive economy, peer-to-peer finance offers a solution from an entirely unexpected direction.

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Fri Mar 20th, 2009 at 04:36:43 PM EST
[ Parent ]
Don't know how it is in northern England, southern Scotland currently, but it's getting tense here.  (Old guys like me, who have stuck their minority opinions into controversial situations, have an acute sense of dangerous levels of tension.)

I'm actually still working on your/our principles.  If you can help me find $300k, we can do the land phase of workforce housing in Carson, WA with a guaranteed 5% for investors.  I'm good for $30k, and Steve N. might be interested.  LLC with builders and suppliers at-cost for labor and materials with (reasonable) profit as their buy-in on the long term.

Another (producers') co-op project involves chipper, dump truck, and track-skidder for forest-health/fuel-reduction thinning operations cum woody biomass energy-source purpose.  I'd diary that and several related topics, but I just don't have time at present.  I'm going off to Texas April 7 for a visit, then driving back over 8 days.  Should be able to elaborate then.

paul spencer

by paul spencer (paulgspencer@gmail.com) on Sat Mar 21st, 2009 at 02:27:02 AM EST
[ Parent ]
Send me a link or links so I can educate myself. And do diary this, with time frame ASAP.

Capitalism searches out the darkest corners of human potential, and mainlines them.
by geezer in Paris (risico at wanadoo(flypoop)fr) on Sat Mar 21st, 2009 at 04:57:30 AM EST
[ Parent ]
but I really do not have time.  I barely manage to come by ET and sample the diaries.

paul spencer
by paul spencer (paulgspencer@gmail.com) on Sat Mar 21st, 2009 at 11:06:21 AM EST
[ Parent ]
Commendable - at least someone is putting some ET talk into action.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Sat Mar 21st, 2009 at 05:12:04 AM EST
[ Parent ]


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