People WITH ASSETS (real estate, stocks, businesses, etc) have done incredibly well since Obama. Real estate has skyrocketed and mortgage rates dropped to 2%. The stock market has gone up 10x, but some stocks like nVidia has gone up 100x.
People WITHOUT ASSETS have been fucked. The prices have all inflated, rents have skyrocketed and food has skyrocketed but they have nothing except their paychecks to help pay for living. They need 2 jobs just to stay afloat and there is no way they will ever afford a house. They are fucked.
The people with assets have an inordinate amount of money such that they can do extremely sociopathic things that people shouldn't be able to do. Hedge funds are buying hundreds of thousands of the single family homes and turning the next generation into permanent renters. Mark Zuckerberg is so rich he bought an entire neighborhood in Palo Alto (guarded with a bunch of security guards) so that his family could have a fake semblance of normalcy, but then he buys an entire island in Hawaii as well.
The rich are inordinately rich and doing sociopathic things, meanwhile the lower and middle income people with no assets can't participate in the upside and have no power to fight against these sociopaths.
And you wonder why Mamdani was voted in? It's clear as day to me.
The last time this happened in America it gave rise to Progressivism.
Mandani is the first in a long line of corrective actions that American society needs to make in order to correct itself and not deteriorate into neo-feudalism.
That’s exactly and inherently what capitalism is. Rate of return on capital is higher than rate of return on labor. The people with capital continue to pull ahead. And in America, we now decided to compound this by not taxing and undertaking capital. Which then allows those with capital to transfer some of their capital to political power that then accrues even more advantage to capital owners
When capital is vastly more valued than labor then its an asset bubble that will pop. Labor is the actual economy, capital is a make believe economy, when corrections happens its that capital loses all their bubble money not that labor catches up to that imaginary world.
People WITH ASSETS (real estate, stocks, businesses, etc) have done incredibly well since Obama. Real estate has skyrocketed and mortgage rates dropped to 2%. The stock market has gone up 10x, but some stocks like nVidia has gone up 100x.
People WITHOUT ASSETS have been fucked. The prices have all inflated, rents have skyrocketed and food has skyrocketed but they have nothing except their paychecks to help pay for living. They need 2 jobs just to stay afloat and there is no way they will ever afford a house. They are fucked.
The people with assets have an inordinate amount of money such that they can do extremely sociopathic things that people shouldn't be able to do. Hedge funds are buying hundreds of thousands of the single family homes and turning the next generation into permanent renters. Mark Zuckerberg is so rich he bought an entire neighborhood in Palo Alto (guarded with a bunch of security guards) so that his family could have a fake semblance of normalcy, but then he buys an entire island in Hawaii as well.
The rich are inordinately rich and doing sociopathic things, meanwhile the lower and middle income people with no assets can't participate in the upside and have no power to fight against these sociopaths.
And you wonder why Mamdani was voted in? It's clear as day to me.