Weirdly, real estate, often held up as an example of one of the most capitalistic things, is one of the most extremely left things in practice, for many reasons.
+ Financed by loans & credit scores from government printed money (left style) instead of some kind of venture investment-based way (right style).
+ MASSIVE fraction of what props up housing prices is government money printing with low rates and loans — extremely left style.
+ Large companies easily monopolizing ownership over the vast majority of the apartments in an area, with essentially zero anti-trust breakups, unlike in healthy markets.
+ Nearly zero way for landlords to permissionlessly compete on merit, due to these extremely strong monpolies big landlords can obtain with no fear of being broken up, e.g. where tenants could simply switch to a better landlord.
In many other ways as well.
= Real estate, particularly in cities where big business landlords have monopolized, are one of the most non-capitalist things out there.
No, “makes money != capitalism”. Communism gives some people more money too, for a while.
Essense of capitalism = permissionless competition, by way of investment not bank loans, markets not credit scores, creating value not simply inflating the currency.
+ Financed by loans & credit scores from government printed money (left style) instead of some kind of venture investment-based way (right style).
+ MASSIVE fraction of what props up housing prices is government money printing with low rates and loans — extremely left style.
+ Large companies easily monopolizing ownership over the vast majority of the apartments in an area, with essentially zero anti-trust breakups, unlike in healthy markets.
+ Nearly zero way for landlords to permissionlessly compete on merit, due to these extremely strong monpolies big landlords can obtain with no fear of being broken up, e.g. where tenants could simply switch to a better landlord.
In many other ways as well.
= Real estate, particularly in cities where big business landlords have monopolized, are one of the most non-capitalist things out there.
No, “makes money != capitalism”. Communism gives some people more money too, for a while.
Essense of capitalism = permissionless competition, by way of investment not bank loans, markets not credit scores, creating value not simply inflating the currency.
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DoomPosting
NFTs 📉 Memecoins 📈 Who’d have known that fungibility is good? (Every economist since the dawn of time) Memecoin summer
“OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities”
NFTs have massive downsides, financially, particularly their lack of… fungibility.
ONLY huge advantage NFTs had was — the perception of their being totally legal.
Now with that gone, if the SEC succeeds… no reason left to not just go full memecoin.
Year of the memecoin.
NFTs have massive downsides, financially, particularly their lack of… fungibility.
ONLY huge advantage NFTs had was — the perception of their being totally legal.
Now with that gone, if the SEC succeeds… no reason left to not just go full memecoin.
Year of the memecoin.
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