What you have described is basic capitalism in action. People leave expensive places for cheaper places. Fallout happens.
The blaming of “elites” feels like a bit of a straw man. “Elites” are illusory. A convenient boogie man of sorts.
This seems to blame hedge funds for making unfortunately shrewd investments, because we’ve kind of reached the logical end of “home as asset” theory. Someone with more resources and expertise will leverage that efficiently.
It’s what you’d call an externality of an efficient market.
Can I combine the end of one post with the beginning of another?
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The fallout is people's well-being. The cost is another million for someone else.
I have no problem with some people succeeding and others failing. That's completely normal and fine.
But the numbers are getting absurd. The number of impoverished people vs the cartoony numbers of the wealthy. We've all heard the stats on additional billionaires during the pandemic.
As restaurants and stores closed down, the truly wealthy gained a windfall.
There's a reason you can't be middle class on one income like you could back in the 60s and early 70s. Wages largely stagnated for decades as profits soared. So then the masses want a minimum wage jump, and those against it cite that it's too large a jump. It's a jump because the wealthy didn't do it incrementally over the years.
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How much wealth is enough? Not in terms of government overreach suppressing one's freedom for wealth, but if another million suppresses 15 families well-being, is it worth it? Or 150 families. Or 1,500. Yes, the wealthy person is free to earn or create as much money as they'd like, but just because you're free to do something doesn't mean you should. Our publicly-traded companies system requires quarterly perpetual growth, which is impossible.
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They're having trouble inventing shit for the ultra-wealthy to buy. 1 Lamborghini is a joke now, you need 15 of them. A yacht? Pish-posh, you need a super-yacht with its own sub. You need a ride into outer-fucking space. A private jet? Please! You need your own 767.
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There's no such thing as enough Boo-hoo. Work harder, losers.
