Posted on 02/15/2022 6:59:41 AM PST by DIRTYSECRET
ok if you say so!
Oh, bullcrap. Look at post 56. All you talk about is income. Typical uninformed response: Talk about something else.
No, you need to work on subject and object. The rich pay more, the poor are lazy and worthless. The middle class are sloths.
Sorry, but the wealthy have their hands in the pockets of the Federal Reserve, a private for profit bank pretending to be a Governmental agency. They give out digits on computer banks to the rich at basically zero percent. THAT is why the rich grow in wealth year on year. The system is built to shift all property and assets into fewer and fewer hands. Not from the outset of the Country, but since the institution of the Federal Reserve. If it works well for you, good. Get back to me when you make 70K a year as a professional craftsman, and cannot afford rent that is around $2,500 a month for a family. I guess me and the wife can both work to pay Blackrock, who is picking up real estate like it is candy at a parade. Or we can fight against the 3,000,000 immigrants legal and illegal that come into the country yearly. That doesn’t drive up rent and housing prices at all. /s/. At least if we both work and make $125K a year, we will have a nice house to put our stuff, and keep the kids in comfort, but we will seldom see them as daycare and the schools raise them.
Honestly, open your eyes and your mind. The system of economics in the US is failing, and is only being kept together with duct tape. The fault is not the rich, it is not the poor. It is the government itself, and its free money policy. Without that, welfare is impossible on the scale it is given. The cost of College is only so high, because the government distorts the market. The government distorts every market it touches. That is okay though, because it favors the wealthy, and keeps us all divided.
Washington DC?
I actually own my home outright, but I have children and they cannot purchase or rent and that is the going price. 5 years ago, yes they could, and 2 out of 3 were in a position to do so and did purchase. The youngest one, has $200K saved, but houses are going for $500K, they cannot financially support that. Neither can they rent for $2,500. They were renting at $1,050 and hoped to stay there long enough to save and build up income to be able to purchase. Though I do own my home, my monthly cost is $583 plus utilities. It is climbing though, and is getting close to being too much to stay here.
I worry about my situation of course, but housing is not just getting out of reach, it is unlikely that anyone born after 1990 has hope of home ownership, or even affordable rent. I know that is overstating it, but you need to make well over $100K to afford a home. I painted for the State, working bridge projects, power plants, sewer plant, hospitals etc. $75K a year is the going rate. My trade along with carpenters, plumber and even electricians had a path to it. Today? you have to be very very well off to do so.
If you're old enough to have kids who have saved $200K and can't afford $583 for housing expenses, you: 1) have managed your money poorly, 2) haven't invested in yourself, and 3) probably haven't set yourself up for retirement. How is all that the gov't fault?
It is governments fault, they have perverted the design of the system.
The goal is division. They divide families, they divide classes and Nations(races). They do this by fiscal policy, which should better be called fiscal irresponsibility.
I can of course survive by selling, and moving to a cheaper place to live. I will be then far away from the grandchildren I live for. I will have more liquidity, and then I spend that on travel back to my children? Instead I choose to live and take my lumps here.
I know that is a choice, and until I can convince them to follow me to Kentucky or thereabouts, I wait, as a family I refuse to be separated from them.
The daughter and her husband with a good amount saved, have been without a meaningful income for over a year.
I know, and my children know that they should have bought a house sooner, they did not. The husband is a much in demand chef, except demand dried up, and less expensive chefs can take his place. What is blamed is Covid. Again, that was a DIRECT assault on the entire nation, perpetuated by government.
The free money policies of the Fed, and lax regulation of monopolies has led us to a point where foreign nationals/corporations, are allowed to buy up entire blocks of housing for investment. Blackrock in particular is using money that taxpayers are borrowing, and will have to pay back to China, to do this at essentially 0%. They are cornering the market in a crucial necessity, and the government encourages it. In a capitalist system, they could lose on this investment. In reality, they are “to big to fail” and We the People will pay both ways their investment goes.
I tire of thinking of how wrecked things are for the working class at this time. I am tired of writing about it also.
Even the so called rich will be eaten by this fascism. The only survival is to work for the exactly correct organization, or government. We do have it better than most countries here, at least for now. We as a nation are like the family down the block who are living high on credit cards. It all is good and fine until the bill comes due. The crumbling of a building is most obvious at the lowest level. Once the foundation cracks, the middle floors notice the sagging but must stay. Those who occupy the upper floors become alarmed and move on to a new building. Wondering why the others remain behind, and blaming them for their place in society. Asking “why didn’t they work harder? save for the future? go to University”?
The free money policies of the Fed, and lax regulation of monopolies has led us to a point where foreign nationals/corporations, are allowed to buy up entire blocks of housing for investment.
Free money policies of the Fed? So I can drop by my Fed office and get some free money? Do you even know how the FTC defines a monopoly? Even if those statements were true, which they are not, how does that let foreign companies buy property here. Give me one example of where a foreign bought an entire city block. In most cases, such a purchase would have to contend with dozens of sellers and, if the wish to sell, what right do you have to say they don't control their own property.
I know your mind is made up and you don't want to be confused by the facts, but your entire argument is specious and you need to learn why.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.