Re: Robert Reich: Why American Capitalism is So Rotten
Posted: Wed Jan 17, 2024 10:04 pm
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Rich men north of Richmond.ajax18 wrote: ↑Wed Jan 17, 2024 5:59 pmI'd like to see most of the that. My question to you is why we don't see this on the left coast or inner cities where Democrats have been in power for so long?Doctor CamNC4Me wrote: ↑Tue Jan 16, 2024 7:25 pmAjax,
What part of Robert Reich's economic philosophy that:
do you hate the most?
- addresses the 73% of Boomers retirement savings of $100k or less so they’re not on the street
- ensures workers are guaranteed strong wages and retirement plans so they can own a home and make sure their families can get care without devastating debt, and
- making sure your kids have a safety net if they’re injured or unfairly fired
Strong middle-class.
Strong local economies.
Reduced recession cycles.
- Doc
This is true.Reich describes the typical economic arguments between Rs and Ds over the last several decades: (1) free markets v. government regulation and (2) redistribution of income and wealth. But, according to Reich, these typical arguments function as a diversion that keeps people from understanding how the market itself has been altered in the U.S. over past decades.
For a resident homeowner or an investor?Gadianton wrote: ↑Sat Jan 20, 2024 5:12 amThis is true.Reich describes the typical economic arguments between Rs and Ds over the last several decades: (1) free markets v. government regulation and (2) redistribution of income and wealth. But, according to Reich, these typical arguments function as a diversion that keeps people from understanding how the market itself has been altered in the U.S. over past decades.
This question is a proxy of other similar questions, and I think gets to the heart of the problem:
Do you believe your home should be a good investment?
I'll bite.
If this had anything to do with my question, remember my question was should a home be a good investment. It wasn't are homes a good investment. Nobody learned anything new by learning that somebody bought a house, fixed it up, and made money off of it.Vēritās wrote: ↑Sun Jan 21, 2024 6:46 pmWe purchased our new construction home in 2017 for $471k.
It appraised in July at $1.2 million.
Of course, we put probably $300k into renovations but still, that's a pretty good investment. Especially since we can borrow against the equity to invest in other opportunities such as home flipping.
Gad's question gets at what is being incentivized. Remember the context for the original question:
Those incentives have consequences, and society is impacted differently if housing price increases are incentivized compared to other alternatives. Access to credit specific for buying a home, Fed rate, etc., are examples of actions taken by government whose form incentivizes behaviors that reflect certain economic views. Don't know if Gad borrowed this or came up with it, but I thought it was clever as a means of examining the root question.Gadianton wrote: ↑Sat Jan 20, 2024 5:12 amThis is true.Reich describes the typical economic arguments between Rs and Ds over the last several decades: (1) free markets v. government regulation, and (2) redistribution of income and wealth. But, according to Reich, these typical arguments function as a diversion that keeps people from understanding how the market itself has been altered in the U.S. over past decades.
This question is a proxy of other similar questions, and I think gets to the heart of the problem:
Do you believe your home should be a good investment?