Summary
Part 3 covers space as the next frontier for rent extraction (asteroid mining, SpaceX), skyscrapers and subprime mortgages as winner’s curse indicators, changing the language of land value taxation, the Jubilee Line case study (how public infrastructure enriches private landowners), and why land values are a “state secret.” Also covers how the corruption of economic language about rent/land was deliberate, documented by Mason Gaffney.
Key Claims
- Space is the next frontier for rent extraction — Silicon Valley got rich on electromagnetic spectrum rent; next = asteroid/moon mineral rents. — confidence: high (Fred’s thesis)
- Indicators of cycle peak: skyscrapers (height indicator), subprime mortgages, space real estate — the winner’s curse behaviors always exceed the previous cycle. — confidence: high
- Skyscraper indicator updated: new lift technology (KRP Industries multi-directional lifts) means buildings can now go sideways/diagonally → new indicator forms. — confidence: speculative
- Flying taxi landing rights on tall buildings as next form of rent capture — a potential winner’s curse indicator for 2026. — confidence: speculative
- When public investment (Jubilee Line) increases location value, landowners pocket the gain — the workers who paid taxes to fund it receive nothing. This is self-funding if rent is collected. — confidence: high
- Land value tax failed in land-grant colleges because professors who were also rent beneficiaries deliberately removed “land” and “rent” from economic vocabulary. — confidence: high
Predictions / Forecasts
- Trump (if re-elected 2024) may package space land as investment product — potential winner’s curse top indicator. — status: partially noted (Trump Space Force, space policy, commercial space 2024-2025)
Notable Quotes
“Space is the next frontier, the earthly ones having been enclosed completely.” “We need to change the language so that people understand what’s been done onto them.”