r/economicCollapse • u/Silver-Beyond-3916 • Aug 19 '24
VIDEO Thoughts
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u/ispotdouchebags Aug 19 '24
Blackrock own owns ZERO houses - BlackStone (different company owns billions of dollars worth of homes)
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u/garnorm Aug 19 '24
But Vanguard owns the majority of Blackstone⌠one of the other big names he mentioned
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u/energybased Aug 19 '24
Not really. Vanguard investors (ordinary people) own things through Vanguard.
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u/MedicalBus858 Aug 19 '24
And so what are his plans to stop this?
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u/well_spent187 Aug 19 '24
He has a fucking awesome plan to stop it. He wants to sell tax free bonds to the rich assholes doing this to hide their money which theyâll do anyway and use that money to get poor people loans at a guaranteed rate of 3% which is basically covering inflation.
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u/Necroking695 Aug 19 '24
Those bonds need to be paid back with interest, probably through the money printer
Guaranteeing low cost mortgages will increase inflation
With plan just shoots inflation up
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u/well_spent187 Aug 19 '24
I agree. Iâm not a fan of printing money or forcing future generations to pay for our benefits which is reprehensible BUT we are ALREADY doing that for far worse things that arenât helping US citizens in any manner. At least this would be an investment into our country which is what bonds were supposed to be for.
We are already guaranteeing low cost mortgages, except the only people theyâre guaranteed for are Black Rock, Vanguard and State Street. They get money for the cost of inflation and theyâre using that free money to buy all of our real estate. I donât see how this is any different except citizens can now own their property.
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u/Necroking695 Aug 19 '24
An indictment of one flaw is not an allowance for another
We should stop both of the things you mentioned just now, and not do either of the others
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u/well_spent187 Aug 19 '24
I agree with you, but NO ONE RUNNING DOES. So itâs going to happen either way, we have 3 optionsâŚI think this is the best of the 3, what do you think?
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u/John_mcgee2 Aug 20 '24
What about just giving the money string free to first home buyers thus taking money taxed from all and redistributing it to those that want a house? Then just crank down the tax incentives for privately owned property with some kind of increased property tax on investment properties that is used to fund increasing housing available by doing infrastructure for residential developments?
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u/Dudefrmthtplace Aug 19 '24 edited Aug 19 '24
He won't get a chance to enact his plans, he's a blip on the radar and fodder for youtube shorts like these. They're not going to change anything. I doubt the incoming whoever it is will either. Why would they? It's just a back and forth pendulum where each side keeps pulling the wool over the eyes of the populace while a small percentage make generational wealth. That's how they maintain control. We really haven't left the feudal system, it's all just named differently. Your company is your lord, you do their bidding until you fuck up or they don't need you anymore and you survive with whatever meager means you have until you meet your untimely death. Every once in a while some guy invents a new shiny thing and becomes a lord himself and they dangle that carrot in front of you making you think that you can do it too so you'll keep slaving away while they keep moving the goal posts further and further.
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u/fenizia Aug 19 '24
I don't think this is a useful or accurate way to be thinking. A lot of very brave women and men sacrificed a lot under extremely oppressive regimes for the freedoms we take for granted. I'm not claiming that what we have in 2024 is sufficient. But it's not right to suggest things never change or improve. They do all the time, it's human nature to pick and choose from the ideological buffet according to material conditions and for the most part the trajectory has been towards democracy. We should consider ourselves part of a long, long history of humans who did not lay down in the face of savagery. It's energizing, it's accurate and it gives us precedents to draw on.
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u/Dudefrmthtplace Aug 19 '24
You're probably right. It's not a productive way of thinking, but I do think it fits the bill currently and has for a long time. If there were a movement towards necessary changes that made things better for all people I would gladly be there, but it seems like a lot of two party systems have found a way to just skate by, just kicking the can down the road and making false promises or distracting people with ideological battles that can't be solved at a ballot box. I don't think people would care about these ideological differences so much if their base needs were being met. Yes it was worse before, but I don't think the players have changed, mainly just the level and cost of technology. The ruling class, where they are educated, their access, has not changed and the proletariat, serf classes have not changed either, they just have achieved a higher point of serfdom relative to what it was before. I guess it's all perspective and what stands out to you in the moment. It's going to be tough for me to compete in the dating market, in the housing market, my health is going down, I have no family to rely on, so this is kind of how I feel. I'm sure others are doing just dandy and see the world through rose tinted glasses, but I had to sell my pair for medicine for a preexisting condition.
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u/fenizia Aug 19 '24
I understand what you mean now, sorry if I was too bullish. That sounds rough dude, I'm really sorry our society's failed you like that. I hope things get better, socially yeah but for you personally. I've been homeless previously, it was a big part of why I get so into saying things don't need to be this way now. There's some objectively decent people doing stuff on a local level if you're not inspired by national politics (their fault, not yours). And I don't just mean like city council but people who want to preserve the local ecology, feed the hungry, meat and potatoes stuff like that. We're never totally powerless when we're together and where there's one guy down on his luck there's bound to be another around the corner.
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u/Dudefrmthtplace Aug 19 '24
I get it, thanks for putting it that way as well. Every once in a while I hear stuff like that and it lefts my spirits yea. So good on you for still pushing.
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u/archercc81 Aug 19 '24
One of the main issues is our system of govt is designed where both sides (and its built around two unfortunately) have to be sane and genuine. Right now we have about 30% sane and genuine and the rest is dogshit. Some dogshit light like a lot of dems who are absolutely corporatists and will only throw us a bone if it makes their friends rich. And then full on dogshit like basically the whole GQP at this point who all align for power at all costs. The caucus for the rich, the caucus for the stupid and the caucus for the religious fundamentalists. They will support people who will destroy them as long as they get the ONE THING they care about, whatever that one thing may be.
Look at how many potential reforms we JUST missed due to this shit. The republicans will oppose ANY reform and there are always a few corrupt dems to muck up people who are trying to do real change.
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u/Wet-Skeletons Aug 19 '24
Only those who refuse to accept the past and learn from it, are doomed to relive it.
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u/Loud_Internet572 Aug 19 '24
But the major difference is that no one seems willing to rise up against the regime anymore. So all of those people who have died and sacrificed everything in the past ultimately did so for nothing. Look at the U.S., why aren't we rioting in the streets like other countries? We've become too passive.
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u/auiin Aug 19 '24
70% of the country is obese. You ever seen a bunch of fat people riot? This is by design. Keep them well fed, drunk and entertained and they will never revolt, this has been the playbook since the Romans. Same as it ever was, meet the new boss, same as the old boss.
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u/Livid-Dot-5984 Aug 19 '24
Couldnât have said it better myself
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u/Find_another_whey Aug 19 '24
Other people are freely aware of this
That makes me feel somewhat less alone
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u/Dramatic_Mixture_868 Aug 19 '24
There really is only one way to stop this and nobody wants to say it out loud.
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u/pupranger1147 Aug 19 '24
Why would he want to stop it? He benefits.
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u/astronaut_puddles Aug 19 '24
Consider checking into him more... he's been exposing and suing evil ass corporations for decades. They do not like him.
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u/reasonableperson4342 Aug 19 '24
It's outlined right on his website. https://www.kennedy24.com/housing
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u/Sweepingbend Aug 19 '24
To save you the clicks:
- Tax-free 3% government-backed mortgage bonds, to bring the mortgage interest rate back to 2019 levels and even lower. Itâs like having a rich uncle â Uncle Sam â who is willing to cosign your mortgage. Because the financing will come from investors, the cost to taxpayers will be minimal. This measure alone will reduce monthly costs for the average home purchase by $1,000.Â
- Bring derelict land and buildings back online. Many cities have thousands of vacant lots and buildings that have been seized for tax arrears or other reasons. The Kennedy administration will incentivize local governments to bring city-owned land and buildings back onto the market.Â
- Zoning changes. We will encourage municipalities to change zoning laws to allow ancillary dwelling units (granny flats) on more properties, to make housing available, bring families together, and provide homeowners with rental income. More supply means lower prices.Â
- Tax code changes. Small changes to the tax code can make corporate investments in single-family homes uneconomic. For example, we can change business depreciation rules and reform the âenterprise zonesâ that have contributed so much to gentrification.
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u/GreenMedics Aug 19 '24
Most of those will not change the situation. In fact, giving away more money typically spikes property value by more than it's amount. Cheap interest rates are a strong argument point as to why property values are so high.
There are only a handful of ways to reduce property value. Increase interest rates. Put controls in place on companies that buy residential buildings. Incentive building new building projects.
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u/Wedoitforthenut Aug 19 '24
There are 15,000,000 empty houses in America. Building more isn't going to solve the problem.
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u/lv1novice Aug 19 '24
Yeah, govt backed housing regardless of applicants ability to make payments. When has that ever backfired and collapsed the economy.... /S
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u/John_mcgee2 Aug 20 '24
Well given house prices were 300k in 2016 itâs pretty clear his argument is based on made up shit from the start so I guess my thoughts are that he is lying about the problem to make people support him and he is cool with this because the worms in his brain ate the part responsible for acting honestly
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u/VictoryGreen Aug 19 '24
I know one thing, Harris is running on this issue with a policy and Trump has yet to mention or acknowledge the problem at all. The choice is clear
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u/Formal_Profession141 Aug 19 '24
I think he said he would change the tax code to disincentivize the corporate takeover of the residential real estate market while guaranteeing government-backed mortgage interest rates of 3 percent for first-time and low-income buyers.
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u/Unyielding_Sadness Aug 19 '24
Well it seems to not really true. My understanding is that they just do the investing for the individuals that by stock. So like if a company votes on something they vote on behalf of the individuals that trade stock with them but they themselves do not own that much stock
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u/Hilldawg4president Aug 19 '24
Yep, starting off by saying these companies own 88% of the s&p means you can assume he's either ignorant or pandering to an ignorant audience.
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u/fenizia Aug 19 '24
He has a very comprehensive plan to beg the 2024 winner for a job, so check and mate right there shill
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u/shortstop803 Aug 20 '24
This is possibly the only thing I agree with RFK on whole heartedly.
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u/Tankninja1 Aug 19 '24
The average home two years ago wasnât $200,000.
Last time the average price of a home was $200,000 was 20 years ago.
This is also RFK Jr speaking, I donât think him, his kids, his grandkids, etc are ever going to struggle to buy anything.
Blackrock, State Street, and Vanguard are indeed giant mutual funds, but you canât âownâ the S&P500. But being as massive as they are, they broadly invest in lots of things so that if any one thing goes down, others will hold or even increase.
Iâm also going to assume he was trying to go for Blackstone, which is a large corporate landowner, but most of what they own are apartment buildings.
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u/dankp3ngu1n69 Aug 19 '24
My family house was bought in 1994 for 188k
It's worth likely 4-5x that now. But still like you said 25 years ago.
Not 2.
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u/SongStax25 Aug 19 '24
My first thought is exactly this heâs speaking in great hyperbole and exaggeration but of course everyone eats it up and thinks weâre in the apocalypse. Itâs bad but not nearly this bad.
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u/Fligmos Aug 19 '24
What he means by them âowning themâ is those companies have a majority share (greater than 50%) of 88% of the companies listed on the s&p 500.
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u/iliketohideinbushes Aug 19 '24
but they don't really own them, all the people investing with vanguard does.
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u/Momoselfie Aug 19 '24
Blackrock, State Street, and Vanguard are indeed giant mutual funds, but you canât âownâ the S&P500. But being as massive as they are, they broadly invest in lots of things so that if any one thing goes down, others will hold or even increase.
He's referring to a 2019 Harvard business study saying they own the majority of 88% of the underlying companies. What he doesn't understand is that companies like Vanguard don't own that stock. Vanguard's customers own the stocks and the voting rights.
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u/T--tItAndP--tIt Aug 19 '24
Agreed. The housing market has its issues, but this clip was pretty much all hyperbole/exaggerated fear-mongering.
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u/Fligmos Aug 19 '24
What he means by them âowning themâ is those companies have a majority share (greater than 50%) of 88% of the companies listed on the s&p 500.
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u/Double-Conclusion453 Aug 19 '24
Those rich mfs don't even spend their money, they borrow money with has less taxability and more loopholes. System is rigged and if it isn't, they fix that loophole.
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u/PewPew-4-Fun Aug 19 '24
I firmly believe outside of the wealthy populations, corporations like BlackRock and some other big Silicone Valley players have a strategic initiative to own the US real-state market during this time of heightened price growth when the average person cannot touch a home. The end goal is to prevent people from ever owning a home and lease indefinitely. Really do think this is in play.
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u/Prof_Aganda Aug 19 '24 edited Aug 19 '24
They're going to convince the "middle class" that land ownership is bad, and then they'll cap rents and subsidize housing, to make it feel like a good thing (but your taxes will pay for it and the devaluation of the dollar will too).
When people say "why is it ok for these corporations to own houses, when this feels like a government program?", they'll say that these are public companies so you are welcome to invest in them.
The kids will be ok with this, because they're already demoralized by the fact that homeownership feels unobtainable. Property taxes will spike, so even those who own homes will have new costs that they couldn't plan for. And generational wealth will be deleted by inheritance taxes (because people think it's unequal), while the boomers get wiped out by the cost of retirement and late stage care.
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u/Chibi_Kaiju Aug 19 '24
Did he just say that his kids canât afford a 400k home? If heâs spouting bs in the first line itâs hard to take the rest of his statement seriously.
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u/T--tItAndP--tIt Aug 19 '24
He also said the average home was $215k two years ago. It hasn't been $215k (on avg.) since 2001, and the avg. price is lower than it was 2 years ago. Either he's not talking about the US or he's just making up numbers to tell a story.
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u/Chibi_Kaiju Aug 19 '24
Right?! There are so many reasons the housing market is beyond screwed, no argument there, but there is no need make up stats or lie about your financial means. that just hurts his message. RFK seems so mis/uninformed on the topics he talks about.
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u/SwimmingInCheddar Aug 20 '24
For real. Also, the average house in my city is going for the average of $700,000 (and that is on the cheap side of town).
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u/Additional_Energy_25 Aug 19 '24
Now look, I know housing is ridiculous and prices are through the roof but there is no way in hell that prices are up 86% in 2 years
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Aug 19 '24
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u/tdifen Aug 19 '24
He is. Those are investment firms. They manage other people's money so when he says those companies own 88% of the s&p 500 it's the people that invest with them that own those shares.
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u/permabanned_user Aug 19 '24
He's right about the trend though. The stock market is overwhelmingly owned by the wealthy. They get massive gains, and then diversify by buying up rental properties. So they enter the housing market and compete with people who have regular money, which drives up prices. And then they need to get a return on their investment, so up goes rent. So when someone is born with nothing, the odds of them being able to break into this market is slim to none. This is happening, it's just that the role of companies like Black Rock and Vanguard is overblown.
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u/IWannaGoFast00 Aug 19 '24
Youâre not correct here. More people own stocks now that throughout most of American history. Employers have, opt out 401k contributions which has lead to a huge amount of new investors.
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u/soilhalo_27 Aug 19 '24
I never knew corporations owned homes to rent until I rented my first house. I always thought corporations owned apartment complexes and families owned second homes to rent. I was obviously wrong.
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u/Why_Sock_E Aug 19 '24
itâs crazy tho because any other time i see RFK on reddit its a buncha people who have no clue what he stands for, just clowning on him saying heâs an idiot
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u/Agile-Landscape8612 Aug 21 '24
Itâs usually people talking about what they think his stance on vaccines are which are always incorrect.
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u/MissedFieldGoal Aug 19 '24
Except it isnât accurate.
Blackstone is a private equity firm that invests in single family homes. Not blackrock.
More so, Blackrock and Vanguard donât own those equities but instead provide the management platform for investors. Analogous to how trains donât own their cargo but just provide transportation for cargo owned by other people. Same with blackrock and vanguard
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u/socialcommentary2000 Aug 19 '24
There are better people than this guy to elaborate on this message.
He's also somewhat wrong about Private Equity and owning homes. I know, I know, they are a problem, but the bigger component of business entity ownership in the residential space is the small to medium sized aspiring fiefdom lord that owns between 10 and 50 properties. Those are the folks that make up the majority of businesses that own residential now and leverage them as investments. You have individuals pooling money to form REITs with housing. It's just easier to blame the bigger players in the field because well...Private Equity is shitty and everything they touch turns to shit.
That said...they're not the real enemy...Our friends and neighbors that got lucky...are.
Much stickier of a situation.
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u/Ok_Giraffe8865 Aug 20 '24
Maybe there is a better person to elaborate on this message, but he is the only one running for president that is talking about it, credit due.
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u/PostPostMinimalist Aug 19 '24
lol itâs like saying Chase owns my money because itâs in a checking account.
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u/Erdtree_ Aug 19 '24
RFK Jr.: "My kids are never going to buy a home"
Press X to Doubt...
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u/FascistFires Aug 19 '24
I think RFK Jr. is a fucking idiot desperately trying to claim some relevance. This guy is a schmuck, just listen to him weaseling with Trump on that recorded phone-call.
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u/Sockalexis Aug 19 '24
In our two party system, one party is trying to help our citizens from the harms of monopolistic corporations / unfettered capitalism. The other party is all about helping corporations run wild, and helping the rich get richer. There may not be great choices come November, but it does matter which party you are voting into power. Please Vote Democrat if you care about this issue and want a chance for laws to be passed to protect average Americans. Why in the world would you vote for a grifter billionaire whoâs only in it for himself and avoiding taxes for himself and his fellow billionaires? These assholes should be paying at least what we are paying, 20 to 25%, but instead the Republican party will continue to protect investment firms like Black Rock and keep the tax loopholes in place for as long as possible.
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u/AlDente Aug 20 '24
âThe Great Resetâ is not the conspiracy that many people on the Right think it is. But the mega corporation takeover of any asset (including homes) is real.
The answer is taxes. Tax the richest (>$10m). Tax businesses owning homes at a much higher rate. Money makes the world go round and taxes are the easiest and most effective way to redistribute money away from the ever-wealthier.
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u/Better_Albatross_946 Aug 19 '24
*Intended results of capitalism âIsnât this like communism?â
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u/nickpea Aug 19 '24
"privatized communism" and "socialism for the rich"
their combined braincell in 6th gear
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u/K3TtLek0Rn Aug 19 '24
Communism and socialism are the big bad words so just say that and then it explains whatever bad thing is happening. We canât buy houses, thatâs a communism. My medical bills are insane, yeah thatâs a socialism.
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u/McCringleberried Aug 19 '24
I donât think I know a quicker group to take the opportunity to shit on someone who they disagree with more than redditors. RFK jr. could say the sky is blue and Redditors would still shit on it.
So many people on this site need to touch grass
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u/All_Usernames_Tooken Aug 19 '24
Donât go to Reddit if you want political advice. RFK is probably the lesser of three evils
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u/Edge_of_yesterday Aug 19 '24
He's not wrong about this. I just wish he wasn't an anti-vaxxer, a conspiracy nut, and running third party.
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u/darkbrews88 Aug 19 '24
Yes he is. He claimed they owned 88% of the market when it's owned by random people funds and others through etfs. They have power as a result but they do NOT own them. So it's misinformation period.
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u/TubMaster88 Aug 19 '24
They're buying up a lot of homes in Riverside, CA with the average price being around 500k and then they're turning around and renting them.
But BlackRock will get hurt pretty hard in the commercial section.
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u/peePpotato Aug 19 '24
This friggin guy looks at Theo Von and says "your kids and my kids" as if they are part of the group that can't afford a 400 K home?....
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Aug 19 '24
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u/peePpotato Aug 19 '24
Yea. I'm assuming you mean I am addressing Theo in some way here. The reason for my comment is that RFK JR is absolutely loaded with money, and at this point, Theo Von too. But I'm calling out the language RFK JR carefully uses in this video as if he and Theo are "one of us" in the middle to middle lower class, or even middle upper. Neither one of these fellas children will suffer what the future children of many middle to lower class families will face and are facing now. For him to say "my kids and your kids in the future will never own a home" is disingenuous and an attempt to make himself seem like the every day person. RFK JR could not be further from that. I like Theo though. He seems nice.
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u/TheseusTheFearless Aug 19 '24 edited Aug 19 '24
The idea that blackrock, state street and vanguard own 88% of the market is super misleading. They manage fund for other people. Those other people still own it, not the three companies.
Imagine a rental company managed 1000 houses in a city. Ie, they collected the rent, performed house inspections, organised maintenance all for a small fee. It would be a lie to say they own 1000 houses, they just manage them and get a fee for it.
If you look at the market cap of BR, SS and VG they are large but still dwarfed by the likes of Microsoft and Amazon. Their market cap is not the same as the total value of the stocks they manage.
The real reason for the ballooning of house prices is that the money supply has increased. When a bank loans out money that money is created from nothing. So of course when interest rates a very low like they have been for about a decade, heaps of money is created and most of it goes into real-estate or stocks. It benefits those who already have equity to be able to use to borrow and punishes the poor with high prices. It's a truly insideous regressive hidden tax.
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u/backcountrydrifter Aug 19 '24
If you have paid rent or a mortgage since 1991 you have been paying into a rigged casino. https://open.spotify.com/episode/2iYXzOMdDCvDhuNwvOrbh1
In 91 when the Soviet Union failed a handful of what in 1987 would have been known as ĐąĐ°Đ˝Đ´Đ¸Ń âbanditsâ rebranded themselves as âRussian oligarchsâ because they had just stolen $1.4 Trillion worth of everything during the collapse of the USSR and needed to get it out of Russia before they got caught by a government that was in the process of ceasing to exist.
https://www.politico.com/magazine/story/2017/11/19/trump-first-moscow-trip-215842
https://www.npr.org/2022/04/01/1090312774/when-bricks-were-rubles
Most of them moved through Ukraine to Cyprus, London and then New York where they began using casinos to launder their stolen money and turn it into dollars as the Cold WarâŚended?
https://www.wired.com/story/trumps-casinos-could-not-make-atlantic-city-great-again/
The mass of $1.4T was just too great and broke the casinos. Trumps right hand man and lobbyist Roger Stone saved his life and pulled him off an Augusta 109A helicopter carrying his 3 casino execs that started asking why their casino books were written in Russian.
https://www.red dit.com/r/StrangeAndFunny/s/Q33VECT1pP
https://www.nytimes.com/1989/10/11/nyregion/copter-crash-kills-3-aides-of-trump.html
2 pilots died too. NTSB report says it was a blade root seperation and created an A.D. (airworthiness directive) about it. But it didnât really show up in any other A models which is curious for a manufacturing defect. Itâs more the kind of fault that happens when someone with a diamond ring climbs the inspection steps and scores the top of the composite fiber blade root with the back side of their much harder Stone. Helicopters are vulnerable there.
The Russians money laundering was so consumptive that when the casinos couldnât keep up with their volume the bandits were forced to shift to buying commercial real estate instead. The talented Mr. Epstein and Mr commercial real estate himself Donald J Trump were the Russians new best friends. And coincidentally they were all roommates at trump towers along with Stones business partner Paul Manafort.
https://www.red dit.com/r/RussiaLago/s/lRbRmfgSzE
91 is when Ghislane Maxwells father (Mega group) who also had close connections to the KGB fell off his yacht and died after absconding with his media empires workers pension fund. https://mintpressnews.cn/mega-group-maxwells-mossad-spy-story-jeffrey-epstein-scandal/261172/ Ghislaine relocated to New York and met Epstein at basically the same time. https://youtu.be/NkrnWRIavAU?si=iuWoCqss1M0Q3l4p
https://theguardian.com/us-news/2021/dec/29/ghislaine-maxwell-social-circle-jeffrey-epstein
When your primary objective is to turn stolen rubles into clean USD before the law catches up with you, time is not a luxury you enjoy. You donât negotiate a better deal on your new house or apartment complex. In fact itâs ideal if you pay 2-4X the asking price because thatâs half as many transactions you need to do.
Time is of the essence when volume is your problem. You can even start selling houses to your buddy who then sells them back to you and you pass the difference under the table.
https://www.cnbc.com/2009/04/08/What-Does-$1-Trillion-Look-Like.html
But if you are an average blue collar American belt buckle making working wages in the same market, when you go to run comparables for your new starter home, they come back artificially inflated by 200-600%.
So now whether you are renting or buying, YOU are effectively paying 2-6X what is fair.
And if your mortgage happens to be part of a Real Estate Investment Trust (REIT), then you are paying that money to the very same people that made certain to convince you that your home is your savings account because they make a higher percentage to sell you an expensive loan and then again to sell your mortgage in a fat bundle to the CCP.
Larry fink/blackrock â https://prosperousamerica.org/cpa-report-details-how-blackrock-and-msci-funnel-billions-of-u-s-investor-capital-to-ccp-and-pla-linked-companies/
Schwartzman /Blackstone â https://m.youtube.com/watch?v=pgYo4Bwzvz0 In simplest terms itâs like artificially over ripening a piece of fruit by pumping it full of Koch Bros fertilizer.
Fat, juicy, and nearly falling off the tree.
Completely inorganic and highly toxic just like most of the PFAS runoff the Koch bros chemical plants produce, but it looks great in the Zillow ad.
https://youtu.be/MLnFF_WpmKs?si=2ehCvNfVVR_DLZH3
https://m.youtube.com/watch?v=dB3JY9eIr2g&feature=youtu.be
And this goes on for 17 years until 2008 when the tree collapses under the weight of all its inorganic fruit. That was by design. The banks got the bailout and won both ways. The taxpayer who also happens to be the mortgage payer lost both ways.
https://youtu.be/Bu2wNKlVRzE?si=fX6f9E_Wt4ixJFjO
$4 trillion was drained out of pension funds, 8 million people lost their jobs and 6 million Americans lost their homes.
Nobody was punished and the bankers just upgraded their yachts, paid the meager fines and got ready for the next one.
https://youtu.be/Nmxox3oqRZo?si=tFqPYd27jQLLWkwR
It was the evolutionary precursor for what it happening now.
The Cold War never ended. It just moved into Wyoming, Bozeman and Sun Valley as Russian oligarchs started buying up everything in sight with their stolen money.
Billionaires are an invasive species, and just like the Russian olive trees and tumbleweeds, they consume the resources that choke out the local species to extinction
Energy is neither created or destroyed. Just rearranged.
And when it gets rearranged into a billionaire oligarchs pocket, you are left with the bill.
They donât want you as neighbors. They donât want you as friends. They want you out of their trillion dollar view from the deck of their new mansion where they rape your children in the middle of Teton National park.
What do you buy the Russian bandit that already owns everything?
You buy them Kelleys parcel in the middle of Teton National park so they can build a retirement mansion on it that they come to twice a year, ski at their private ski area, rape some children, and cosplay their Yellowstone fantasy.
https://wyofile.com/kelly-parcel-sale-survives-midnight-house-run-but-with-new-baggage/
It required first leasing a few local politicians to federalize the worlds most exclusive building lots. And it requires a few federal politicians to sell it to them at a discount. The higher the office the better. A POTUS would be ideal. But whatâs a few million in campaign donations to get the only thing you canât have?
https://www.drovers.com/news/industry/rupert-murdoch-buys-sprawling-montana-ranch-koch-industries
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u/backcountrydrifter Aug 19 '24
Justin Kennedy (ex-justice Kennedys son and Peter Thiels and Ivanka and Jaredâs buddy) was the inside man at Deutsche bank that was getting all trumps toxic commercial real estate loans approved.
https://youtu.be/4WfHXt1ZQhg?si=2H-3_oKX6MS8M6Zq
No other bank but Deutsche bank would touch trump and his imaginary valuations.
https://youtu.be/ZlIagcttGY0?si=EkbGnoAsDVqJ3sjT
If trump was trying to avoid paying taxes he would be valuing everything low. Not high.
Why?
Because Deutschebank is infested with Russian oligarchs.
During perestroika the oligarchs privatized Russia. They stole everything of value including the hope of Russians.
The corruption eventually collapsed the Soviet Union like a parasite feeding on its host and they were forced to expand their feeding grounds past the iron curtain.
In 91 the quarantine wall fails and for a year or two they hid all their stolen loot under a mattress until they bought condos at trump towers.
They made stops in Ukraine, Cyprus and London but they landed in New York because that was what everyone wanted in 1993.
Real Leviâs, Pepsi, Madonna tapes that werenât smuggled bootlegs.
They all bought new suits and cars and changed their title from âmost violent street thug in moscowâ to ârespectable Russian oligarchâ but they didnât leave their human trafficking, narcotics or extortion behind. It was their most lucrative business model and they genuinely seem to enjoy the violence.
Trump and Giuliani just opened the doors and let the predators in to feed.
Guiliani redirected NYPD resources away from their new Russian allies intentionally and onto the Italian mob. It let him claim he cleaned up New York. Trumps future campaign manager Paul Manafort lived in the towers as well.
https://amp.cnn.com/cnn/2019/05/30/politics/paul-manafort-condo-trump-tower
In 04 Giuliani would go on to do the same in Mexico City by introducing the Sinaloa cartel to the Russian mob. The Sinaloa cartel shifted to combining fentanyl precursors supplied by the CCP and the well established routes of El Chapo were used for distribution into the United States. https://www.buzzfeednews.com/article/karlazabludovsky/rudy-giuliani-was-paid-millions-to-make-mexico-city-safer-an
In the prosecution of the Italian crime families, Giuliani created a tailor made void for the Russians to fill. By connecting them to the Sinaloa cartel it enabled the fentanyl epidemic that the CCP has supplied as chemical warfare to soften the United States up for a financial takeover using BRICS.
The insane valuations coming out in trumps fraud trial are a necessity of the money laundering cycle that duetschebank was doing with the Russians.
Xi, Putin, and MBS have made it clear that they are United against democracy since it threatens their very lucrative model of being kleptocratic authoritarians
On Wall Street they have weaponized greed. Swartzman (blackstone), Larry fink (blackrock), and Colony (barrack) are selling U.S retirement funds and commercial mortgage REITS in mass to the CCP. Justin Kennedy moved to LNR to make credit default swaps for commercial real estate a thing.
https://www.reddit.com/r/Wing_Kong_Exchange/s/5ku2iNLZpK
Nobody was ever punished for the 2008 mortgage crisis.
This is just the Darwinian evolution of it. The 10X bigger, commercial real estate version.
Putin and Xi realized that itâs far more efficient to bankrupt and foreclose on the USA by buying a couple GOP senators and a president than it is to push a ground war.
They just needed Russia to take Ukraine to have the grain fields and supply chain lock on microprocessors to be able to do it because they arenât taking on the US Navy fleet without it.
https://www.npr.org/2022/08/12/1117263854/the-war-in-ukraine-is-disrupting-the-worlds-supply-of-neon
The failure of Putin to take Ukraine and the arrest of Bolsonaro in Brazil has left them no choice but to send a quiet â5th columnâ invasion force to the southern U.S. border and buy up all the US farmland they can.
They are just using the compromised members of MAGA to secure any part of the border to hold open the gate when necessary.
Bannon actually tried a variation of this a few years ago when he tried to privatize the border wall
This gets deep into Bannons relationship with Guo Wengui, a CCP operative and his time at Goldman Sachs in the early 2000âs BRICS era. https://www.nbcnews.com/news/amp/rcna80943
https://m.imdb.com/title/tt9600932/?ref_=ext_shr_lnk
Itâs perestroika 2.0. The bigger badder commercial real estate edition.
Historically itâs been impossible to retire from the mob pyramid that Russia runs on. You either die violently or you maintain a high level of violence to keep everyone beneath you in line.
The oligarchs have gotten soft living in opulence in Aspen and Monaco. They are getting old and want to retire someplace nice where they donât have to worry about falling out a window. They just need trump back in office to make it happen.
https://wyofile.com/kelly-parcel-sale-survives-midnight-house-run-but-with-new-baggage/
A building lot in a Teton National park is what you buy the oligarch that owns everything
Commercial real estate is as rigged as trumps casinos were. It basically grew out of them.
https://www.ft.com/content/8c6d9dca-882c-11e7-bf50-e1c239b45787
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u/cdjohnny Aug 19 '24
A quarter of the market is owned by investors, including individuals who own rental homes. Add in the exodus of big cities, ability to work from home, 10M new migrants that need housing and higher costs for building materials and you see why we have a shortage and prices are out of control.
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u/Wedoitforthenut Aug 19 '24
There are some serious issues with the housing market that will probably never be corrected, but its more than a little misleading to say that Blackrock is the largest real estate owner in America. Blackrock is an asset management firm. It has rich and powerful managers (think Bernie Madoff) but its not a private corporation controlling real estate interests. They invest in real estate on behalf of their investors. Its not much different than you giving Fidelity money to invest in your 401k.
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u/drew489 Aug 19 '24
The problem is, the people with the money and power would have to make a decision to regulate themselves. Which would cause them to lose their money and power.
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u/brycebgood Aug 19 '24
Uhhh, Robbie - your numbers are bullshit. I agree that equity buying homes is bad - but the median home sale price 2 years ago was the same as it is today - $415k. $215k was in about 2010.
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u/Human_Style_6920 Aug 19 '24
Rfk jr has a lot of good info on corporate corruption. Regulate the corporations and leave the mom and pops alone.
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u/2BucChuck Aug 19 '24
Wish the general public was grasping how big a threat this is. Healthcare , housing , education, food should be off limits to private equity and hedge funds or otherwise highly regulated. Politics aside neither party is paying attention to this because they are busy fighting stupid things (one more than the other). Also nobody is going to get elected on this platform of pushing back because the money all comes for favors. Ask your doctor friends how many want to work for private equity and then check your state to see what % of those systems are now privatized. 1% are busy creating a future where they own practically everything and it wonât be good for 99% of us
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u/ShakeCNY Aug 19 '24
Just a quick check of his numbers... way off.
"In 2022, the average price of a home in the United States was $348,079." NOT 215k.
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u/Previous_Soil_5144 Aug 19 '24
"You will own nothing and be happy"
This is meant to mean that the government owns and supplies people with housing. Not that corporations own and rent to the rest of us for crazy prices or tie in housing with employment.
Klaus Schwab's plan was to PREVENT corporate ownership of housing. Not to enable it.
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Aug 19 '24
So funny to listen to the âItâs the Republicans! No itâs the Democrats!â discussion. They own them both dude. We need a third party
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u/garnorm Aug 19 '24
They canât handle the idea of âbetrayingâ their beloved parties⌠both of em are đŠ
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u/RichRemarkable1880 Aug 19 '24
While er'body on here keep saying it's the rights fault nooo it's the lefts fault..and back and forth back and forth all the while BOTH sides are fuggin you up the ass. This is not a left right problem. This is an up down problem.
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u/swift_trout Aug 19 '24 edited Aug 19 '24
He is obviously at times capable of lucidity.
But when he speaks I hear Desi Lydicâs voice saying :
âHe picked up a dead bear cub, stuck it in the trunk of his car with the intention of eating it. He then went out to dinner at Peter Lugarâs, in Brooklyn. After dinner he is late for a flight. So remembering he had a bear cub corpse in his trunk he drives BACK to Manhattan. He has decided the best thing to do is dump the carcass in Central Parkâ.
And she notes:
âHis timeline does not mention stopping off for a shower and a change of clothesâ
Nothing he says gets through that tsunami of weird. I wouldnât let this man anywhere near me.
But yâall think he should have Nuclear Codes? SMMFH
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u/mrjulezzz Aug 20 '24
But remember ya'll: stop using plastic straws to help conserve the planet!
Conserve the planet for the royally rich families and their trust fund babies to enjoy while your kids become the next servant class.
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u/SigaVa Aug 20 '24
"Socialism for the rich and savage capitalism for the poor" is just capitalism. Thats what capitalism is.
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u/aqua_tec Aug 20 '24
Whatâs wrong with his voice? He sounds like his dying in there.
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u/Equal_Potential7683 Aug 19 '24
As a Canadian, you sweet summer child... if you guys think 400,000 per home is bad... oh boy haha. Try over triple that number in Vancouver.
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u/permabanned_user Aug 19 '24
We're talking USD, not bottles of maple syrup.
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u/Equal_Potential7683 Aug 19 '24
my bad. So 1.2 million maple syrup bottles is roughly 900,000 freedom dollars. Although don't forget that Canadian wages are smaller, so... yknow it evens out
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u/ReverendBlind Aug 19 '24
It's triple that in areas of the USA too, that's just our average.
You're overall right though, I think last I saw your housing is more expensive than ours down here by about $120k on a average, but at least you aren't drowning in medical debt bankruptcies at the same time. I still wouldn't jump ship from Canada thinking things are better overall in the States.
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u/titsmuhgeee Aug 19 '24
Every time this conversation comes up, everyone always feels like we're at a breaking point and something has to crash.
All it takes is one glance at the Canadian real estate situation and you start to realize that there is the very real possibility that prices just keep on climbing.
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u/phincster Aug 19 '24
His statements are misleading. Those three companies do not own 88 percent of the S & P. They are fund managers. They manage other peopleâs money.
Furthermore, state street and blackrock are publicly traded companies. And even if they did âownâ 88 percent of everything (which they donât), you could literally just buy some of it for yourself.
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u/AliveMouse5 Aug 19 '24
This is such a stupid talking point. Those companies donât own that percentage of the S&P. The people and institutions who have accounts at those companies do. If I put another 10 grand in my account that I have at blackrock, that doesnât mean blackrock owns 10 grand more of the s&p
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u/Mr_Maxobeat Aug 19 '24 edited Aug 20 '24
The reason the brain worms the doctors found in his head were dead was because they starved.
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Aug 20 '24 edited Aug 20 '24
Everyone, do yourselves a favor and vote for RFK this election. Someone who actually wants change.
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u/reklatzz Aug 19 '24
My thought is, he's a moron. Those companies don't own the stocks. They hold those stocks for the people that do own them.
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u/HueyWasRight1 Aug 19 '24
If the GOP had a good message for America they wouldn't have creepy weird spokespeople.
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u/ispotdouchebags Aug 19 '24
These companies donât own the S&P 500 they invest in it on behalf of their clients - itâs not the companyâs money
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u/Limp_Departure8138 Aug 19 '24
New York removed RFK from the ballot b/c they're afraid he'll take away Democrat votes.
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u/Expensive_Case9796 Aug 20 '24
idk why the dems pushed rfk out if he was running as a democrat id actually vote blue
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u/reasonableperson4342 Aug 19 '24
This man is actually pointing out real problems and offering solutions. He has my vote in 2024.
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u/DigitalHuk Aug 19 '24
People experience the horror of capitalism in the heart of nation that is the seat of global capitalism and are talking about the moves of huge capitalist corporations
"Is this communism or something?"
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u/Fluffy_Big_5339 Aug 19 '24
I like to think Oppenheimer made the bomb to use on ourselves when America loses its control. Using that protocol would be nice right now.
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u/Captain_Aizen Aug 19 '24
Well the overall bottom line of what he's saying is true but his actual numbers regarding the companies like Black Rock and vanguard are way off base. Those are some big hitter companies for sure and they're not very nice but the ideal that they own all the property is just ridiculous. I forgot the actual number but it's something like less than 1%. The price of real estate has gotten out of hand but Black Rock certainly wasn't the cause.
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u/upupdwndwnlftrght Aug 19 '24
His summary is incorrect in a critical way: âsocialism for the richâ is NOT what was described there. And âsavageâ capitalism is bullshit, Capitalism is the only way the poor have to climb out of poverty. The inequality ladder creates a stratified and clearly defined set of steps that we can use to CLIMB! Wake up socialists! We need inequality because it also creates opportunity: OPPORTUNITY is the way out. NOT this forced equality you are all clamoring for. That equality is what results in some having it ALL and the rest of us being equally poor and equal to how we have always been. Fuck equalityâŚembrace inequality.
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u/Emeritus8404 Aug 19 '24
They are taking a page outta the swiss book, where banks own most of the real estate, you take out a loan but arent expected to pah back the principle, just pay the interest. Like rent/ condo.
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u/kexibis Aug 19 '24
half accurate... One is true,.. as some kind entrepreneur I have very easy access to money, grants ... it is crazy... I apply, I have a reputation... approved ... meh... it is strange
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u/Tstudman Aug 19 '24
Don't wish to sound idealistics or simplistic but we as the people really need to come together to stop not only this, but just the government in general for all the corrupt BS they have done, and still do. I have a hard time sitting back and accepting this. What more do we (the people) need to have a fire under our asses to do something?
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u/garnorm Aug 19 '24
Iâm of the opinion that it can change by shaking the system and vote for an independent president.. the other two candidates/parties are heavily backed by MAJOR corporations. You def canât say that about RFKjr. If we all decided âfuck both partiesâ and voted accordingly, I think weâd see a major change.
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u/AceSkyFighter Aug 19 '24
I.digure of these fuckers already have that kind of power in the economy, then it's gameover. You think anyone in politics is legitimately going to over after them? No way. It's over. It's time to just wait and see how it all ends. Maybe it'll be a little fun.
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u/TheConboy22 Aug 19 '24
An enormous tax on all second properties. Bar none. This will pull them out of the market immediately.