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Conservative Vulture Capitalism

Bullseye said:
Many times new management comes in and revamps things in place. Fact is if the company was sold at a "bargain price" it was probably on the verge of shutting down anyway.
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Big money is buying up everything they can get their hands on. It is not a healthy market when fewer people control more of the wealth. One of the things big money is buying is homes. People are being pushed out of ownership and wealth-building and into a life of rentals and no personal wealth. They only have a home as long as they work and can make payments. If they run into bad luck, they get evicted and become homeless.

When people buy their own homes, they are able to pay them off during a career of working. Then when they retire, they are able to live comfortably on Social Security income because their home is paid off. That makes for a good life. But not if big money gets it's way. Then they will be living in some dismal apartment, barely making ends meet, and eating cat food. All thanks to vulture capitalism and private equity.
 
Peacenik said:
Big money is buying up everything they can get their hands on. It is not a healthy market when fewer people control more of the wealth. One of the things big money is buying is homes. People are being pushed out of ownership and wealth-building and into a life of rentals and no personal wealth. They only have a home as long as they work and can make payments. If they run into bad luck, they get evicted and become homeless.

When people buy their own homes, they are able to pay them off during a career of working. Then when they retire, they are able to live comfortably on Social Security income because their home is paid off. That makes for a good life. But not if big money gets it's way. Then they will be living in some dismal apartment, barely making ends meet, and eating cat food. All thanks to vulture capitalism and private equity.
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You forgot about high democrats taxes though and 30 million illegals

I remember my grandfather and some of his friends in Chicago owning the homes outright but had to move because they couldn't afford the property taxes anymore
 
Peacenik said:
Big money is buying up everything they can get their hands on. It is not a healthy market when fewer people control more of the wealth. One of the things big money is buying is homes. People are being pushed out of ownership and wealth-building and into a life of rentals and no personal wealth. They only have a home as long as they work and can make payments. If they run into bad luck, they get evicted and become homeless.

When people buy their own homes, they are able to pay them off during a career of working. Then when they retire, they are able to live comfortably on Social Security income because their home is paid off. That makes for a good life. But not if big money gets it's way. Then they will be living in some dismal apartment, barely making ends meet, and eating cat food. All thanks to vulture capitalism and private equity.
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Your entire premise is wrong.

Home ownership numbers have been fairly stable for the past 50 years — between 63% and 69% — with the majority of Americans owning their own home. The rate goes up and down with economic conditions (and sometimes government intervention) and not as a consequence of what “big money” people do.

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Peacenik said:
Conservatives want to believe (wrongly) that capitalism is all healthy and wonderful, and engine of ingenuity. They rarely wish to admit that capitalism has it's downside.
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I have suggested that we recognize there are two economic system relevant to the US to pick between: "Democratic Capitalism" and "Plutocratic Capitalism" (I hope I'm remembering my own term correctly). This summarizes that 'good side' and 'bad side' you mention and is much more useful than the misleading 'capitalism vs. socialism'.
 
Peacenik said:
Big money is buying up everything they can get their hands on. It is not a healthy market when fewer people control more of the wealth. One of the things big money is buying is homes. People are being pushed out of ownership and wealth-building and into a life of rentals and no personal wealth. They only have a home as long as they work and can make payments. If they run into bad luck, they get evicted and become homeless.
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A country of renters instead of a country of homeowners makes perfect send for plutocracy and is a natural result from the extreme concentration of wealth we have.

Peacenik said:
When people buy their own homes, they are able to pay them off during a career of working. Then when they retire, they are able to live comfortably on Social Security income because their home is paid off. That makes for a good life. But not if big money gets it's way. Then they will be living in some dismal apartment, barely making ends meet, and eating cat food. All thanks to vulture capitalism and private equity.
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Well said. And the people who do have homes can get 'reverse mortgages' to make ends meet handing it over to the wealthy.
 
NatMorton said:
We tried for a opt-clause for Social Security but you folks would have none of it.
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The system only works if everybody is in. Anybody who wants to build a nestegg outside of SS is welcome to as long as they continue to pay in.
 
Bear5131 said:
You forgot about high democrats taxes though and 30 million illegals

I remember my grandfather and some of his friends in Chicago owning the homes outright but had to move because they couldn't afford the property taxes anymore
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Income taxes as as low as they have been in decades. Property values and taxes will inflate. Most state governments have homestead exemptions to give homeowners a break.
 
NatMorton said:
Your entire premise is wrong.

Home ownership numbers have been fairly stable for the past 50 years — between 63% and 69% — with the majority of Americans owning their own home. The rate goes up and down with economic conditions (and sometimes government intervention) and not as a consequence of what “big money” people do.

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It would be higher if it wasn't for vulture capitalism. The graph shows the steady climb and then when the vulture capitalism of private equity began buying homes, home ownership began to fall. It has not been as high since.
 
Craig234 said:
I have suggested that we recognize there are two economic system relevant to the US to pick between: "Democratic Capitalism" and "Plutocratic Capitalism" (I hope I'm remembering my own term correctly). This summarizes that 'good side' and 'bad side' you mention and is much more useful than the misleading 'capitalism vs. socialism'.
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Big money in the USA is representative of plutocratic capitalism. Not a healthy economic system. Top heavy.
 
This sort of thread is a great example of why leftism creates such misery.

Producing things is hard. It takes effort. It takes capital to produce things efficiently. The left is always at war with producing things efficiently.

In times like we have now the problem of being at war with producers is obvious to (almost) all. Shelves are empty. Goods are stocked out. Inflation is rampant. Energy costs are soaring. The left has its hand in policies that contribute to all of this. You just have to take a basic economics course to understand this, so the left is at war with basic economics too.

And worst of all, as it destroys the capacity to produce things the left never is happy. There’s always someone somewhere achieving success that needs to be torn down. The work of destroying the productive in society is never done. You look at countries like Venezuela that totally destroy production and the response is never “oh, we finally did it there is no wealth” the response is totalitarian crackdowns to ensure the left is not required to answer to the people for the destruction it has wrought.
 
Peacenik said:
The system only works if everybody is in.
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I'm pleased we're in agreement that the "Social Security Trust Fund" is nonexistent and is no more than an accounting gimmick. Because if it were real, SS would still function without everyone being "in."
 
Peacenik said:
It would be higher if it wasn't for vulture capitalism. The graph shows the steady climb and then when the vulture capitalism of private equity began buying homes, home ownership began to fall. It has not been as high since.
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Ah, no. Your premise has been proven wrong, and now you're just trying to pick up the pieces. You might as well be yelling at clouds.
 
Bear5131 said:
You forgot about high democrats taxes though and 30 million illegals

I remember my grandfather and some of his friends in Chicago owning the homes outright but had to move because they couldn't afford the property taxes anymore
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How much is your grandfather and his friends home worth today?
 
NatMorton said:
Hard to tell. He never made it past the 6th grade.
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Is the house he lived in CURRENTLY in a neighborhood with good schools? Schools are of biggest factors in the price of a home... Good schools are paid for with PROPERTY taxes...
 
BlueTex said:
Is the house he lived in CURRENTLY in a neighborhood with good schools? Schools are of biggest factors in the price of a home... Good schools are paid for with PROPERTY taxes...
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Today, slightly better than the state’s average. Where they were in 1900, which I estimate to be my grandfather’s last year of public education, I have no idea.
 
NatMorton said:
Capitalism is healthy, wonderful, and an engine of ingenuity. It also has its downsides, but compared to all other economic systems — e.g. socialist Marxism — it remains vastly superior to any other yet devised by man.
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Sure, as long as you're in the upper income brackets. Not so much for less affluent.
 
Capitalism is the worst system, except for all the others.

At it's core, it's economic Democracy. Jeff Bezos is willing to offer you pond pump for 40 bucks and you freely agree to purchase it The lefties can only see that you are 40 dollars poorer and he is 40 dollars richer, but that's because they've been indoctrinated with Robert Reich and Elizabeth Warren nonsense for years.
 
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