David McWilliams: The property system won’t crash like 2008, but painfully grind to a halt

Salk, a fascinating character who married Françoise Gilot, a muse and mistress of Picasso, could have been made fantastically wealthy by his discovery, but he chose to give away the patent rather than cash in.

The polio vaccine was given out for free to millions, saving countless people. In later life, Salk was asked why he chose not to profit from his breakthrough. He responded that his philosophy in life was to be “a good ancestor”.

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David McWilliams: We are at the end of a slow-moving housing Ponzi scheme❝ We are at the end of a system of profoundly unproductive and highly fragile distortion of wealth. It is a giant, slow-moving housing Ponzi scheme, where exit at the top is dependent on suckers at the bottom - davidmcw ⁩on fixing the housing crisis
Source: IrishTimes - 🏆 3. / 98 Read more »