Que mon nom soit fletri, que la France soit libre, “For definitions are very dreadful things:They fight; and they fight fair”, the explanation a kind of sham corbel that supports nothing #Moduloft Home Truths and Truth to Power?

13. In this response, it is assumed The Committee is seeking to further the public interest, even where this may conflict with the private interests which usually dominate the analysis and debate. This will pose a major challenge to those who have learned their analysis exclusively through channels devoted to promoting private interests, and must “unlearn” erroneous but pervasive assumptions and principles.

“Remember that we sometimes demand explanations for the sake not of their content, but of their form. Our requirement is an architectural one; the explanation a kind of sham corbel that supports nothing.”
― Ludwig Wittgenstein, Philosophical Investigations

Que mon nom soit fletri, que la France soit libre

“May my name be withered, may France be free”

I do resent the whole age of patronage being revived under such absurd patrons; and all poets becoming court poets, under kings that have taken no oath, nor led us into any battle.


http://ldataworks.com/aqr/H_Belloc_The_Servile_State.pdf

Friedrich von Hayek praised the truth of Belloc’s predictions in his book The Road to Serfdom[6] and subtitled his chapter, “Economic Control and Totalitarianism”, with the quote from The Servile State, “the control of the production of wealth is the control of human life itself.”

”The monetary and financial system of an economy are part of the socio-politico-economic control mechanism used by every state to connect the economy with the polity and society. This neural network provides the administrative means to collect taxes, direct investment, provide public goods, trade. The money measures provide a crude but serviceable basis for the accounting system which in turn, along with the codification of commercial law and financial regulation are the basis for economic evaluation and the measurement of trust and fiduciary responsibility among the economic agents. A central feature of a control mechanism is that it is designed to influence process. Dynamics is its natural domain. Equilibrium is not the prime concern, the ability to control the direction of motion is what counts.

Money and financial institutions provide the command and control system of a modern society. The study of the mechanism, how they are formed, how they are controlled and manipulated and how their influence is measured in terms of social, political, and economic purpose pose questions, not in pure economics, not even in a narrow political economy, but in the broad compass of a political economy set in the context of society. ”
Martin Shubik

The big commercial concerns of to-day are quite exceptionally incompetent. They will be even more incompetent when they are omnipotent. Indeed, that is, and always has been, the whole point of a monopoly; the old and sound argument against a monopoly. It is only because it is incompetent that it has to be omnipotent.

And that horror of holidays which marks the modern capitalist is very largely a horror of the vision of a whole human being: something that is not a “hand” or a “head for figures.” But an awful creature who has met himself in the wilderness. The employers will give time to eat, time to sleep; they are in terror of a time to think.

The Catholic veto upon usury, as defined in dogmatic councils, cuts across all classes. But it is absolutely necessary to the capitalist to distinguish more delicately between two kinds of usury; the kind he finds useful and the kind he does not find useful. The religion of the Servile State must have no dogmas or definitions. It cannot afford to have any definitions. For definitions are very dreadful things: they do the two things that most men, especially comfortable men, cannot endure. They fight; and they fight fair.

If somebody says: “A rickety cradle may mean a rickety baby,” the natural deduction, one would think, would be to give the people a good cradle, or give them money enough to buy one. But that means higher wages and greater equalisation of wealth; and the plutocratic scientist, with a slightly troubled expression, turns his eyes and pince-nez in another direction. Reduced to brutal terms of truth, his difficulty is this and simply this: More food, leisure, and money for the workman would mean a better workman, better even from the point of view of anyone for whom he worked. But more food, leisure, and money would also mean a more independent workman. A house with a decent fire and a full pantry would be a better house to make a chair or mend a clock in, even from the customer’s point of view, than a hovel with a leaky roof and a cold hearth. But a house with a decent fire and a full pantry would also be a better house in which to refuse to make a chair or mend a clock—a much better house to do nothing in—and doing nothing is sometimes one of the highest of the duties of man. All but the hard-hearted must be torn with pity for this pathetic dilemma of the rich man, who has to keep the poor man just stout enough to do the work and just thin enough to have to do it. As he stood gazing at the leaky roof and the rickety cradle in a pensive manner, there one day came into his mind a new and curious idea—one of the most strange, simple, and horrible ideas that have ever risen from the deep pit of original sin.

The roof could not be mended, or, at least, it could not be mended much, without upsetting the capitalist balance, or, rather, disproportion in society; for a man with a roof is a man with a house, and to that extent his house is his castle. The cradle could not be made to rock easier, or, at least, not much easier, without strengthening the hands of the poor household, for the hand that rocks the cradle rules the world—to that extent. But it occurred to the capitalist that there was one sort of furniture in the house that could be altered. The husband and wife could be altered.

Are we Looking for and have we been looking for solutions?

13. In this response, it is assumed The Committee is seeking to further the public interest, even where this may conflict with the private interests which usually dominate the analysis and debate. This will pose a major challenge to those who have learned their analysis exclusively through channels devoted to promoting private interests, and must “unlearn” erroneous but pervasive assumptions and principles.

the distinction between Bank, Building society and Other lending in all the stats is key, followed up by the Distinction between, Mortgage for New or Existing homes as 1st Mortgages,Mortgages for Remortgages and finally mortgages for Letting investments.
The other very important distinction is Mortgage Funds secured in the Money Markets and Mortgages originated as Bank credit. Northern Rock of course famously became a casualty of the former
and The Market itself is in my opinion enslaved to the latter.
For an Affordable Product to work the appropriate supply of newly created credit needs to be accessible and it is successive failure to solve or even address this piece of the puzzle that has led to the Market as we see it today, and is by some estimations ( Werner et al) the cause of the Gyrations we call the property cycle.
At this point separating the Flows of Credit into the Housing Market is a non trivial task As one has to Factor in The Production Side of the equation Housebuilder/Developers and financing of Land Acquisition, Planning and Construction.

understanding of these flows into a model to see how the Split between; Newly created Credit and Institutional Equity Funding expressed as Developer Payments, Insurance Company Liability cover , and Other risk Capital from the Players in the Model Transaction

Evidence of a real housing “shortage” is absent. A real shortage would show up as overcrowding nationwide. People would be walking the streets in the hope of finding a room. Room prices would be high, and there would be no empty houses.We have a crisis of affordability and allocation. People are borrowing eight times their income to get on the housing ladder yet there are 700,000 derelict houses, 500,000 second homes, and hundreds of thousands of pensioners’ homes with at least three bedrooms spare. The overheated Spanish housing market shows that rapid building programmes do not cure price bubbles.