cross-posted from: https://lemmy.world/post/19930828
Ah yes, let’s attack our neighbors who try to save their money, and let’s ignore the bankers and politicians who created the system that incentivizes this behavior.
Exactly. Stockholders are not the problem - corporate concentration of wealth and power is the problem. Attacking me for having a 401k is just crabs-in-a-bucket mentality.
No one is attacking you for your 401k… The problem is that the richest 10% own 93% of all stocks, and the 1% own 54%. Your 401k almost certainly falls into that 7% the peasants “own”. When we point a finger at “stock holders” we’re talking about the relatively small group that owns everything and would rather kill everyone than share the wealth equitably.
When we point a finger at “stock holders” we’re talking about
Maybe you are but there’s plenty of people who are perfectly happy to attack the middle class.
Tbf, if that is what is meant by stockholders perhaps the specificity would do the argument good, because without it you’re lumping them in with all stock holders (like those with a 401k.) I also get the notion that you may not care about the 401k but the hexbear users might, for instance, so some infighting may take place, but oh well.
At any rate by using terms that include a wider range of people than you do intend to kill (saying things like kill all landlords or kill all stockholders etc, which could include fair landlords and 7%ers or whatever unless specified), it’s going to make those people who acknowledge those cases you “don’t mean” defensive against being killed. Basically, we need another word that only applies to the people that you find it acceptable to kill, that excludes those who you think should live despite exhibiting similar behaviors to those marked for death, if you intend to get those people on your side.
No one is pointing the finger at regular people… The problem is that the richest 10% own 93% of all stocks, and the 1% own 54%. The 1% often IS the bankers, and they did create the system, and they paid the politicians to pass it. You’re just muddying the waters.
This whole argument of peoples pension funds being the largest shareholders in a company is bizarre. https://www.blackrock.com/institutions/en-us/insights/public-pensions-survey pensions are owning less and less of the stock markets every year, become less and less relevant. Institutions like blackrock however are growing. Consistently.
Like mate your neighbour Barry isn’t calling into the shareholders meeting to criticise the CEO for paying $0.05 an hour over minimum wage the the receptionist.
Institutions like blackrock however are growing. Consistently.
Ah yes, let’s blame blackrock who provides a service for our neighbors who want to protect their wealth and invest, and let’s ignore the bankers and politicians who created the system that incentivizes this behavior.
You keep repeating bankers and politicians but don’t seem to be going into much detail. Which politicians? Which bankers? When did your neighbours get enough money to invest through blackrock and when did they become billionaires?
Companies like Blackrock also lobby those politicians with that wealth they’re pretending and investing.
This is way better than Reddit
To be fair, the canadian minister of immigration recently admitted that they should have slowed down on immigration sooner.
Landlords and shareholders do have incentives to drive rent up and wages down, and immigration is one way to do it. The housing and job market crisis aren’t there for no reason, and it’s partly due to immigration.
I don’t have an opinion on housing, but that’s not how job market works. The final decision to employ an immigrant ultimately comes down the HR & company. Saying that “immigrants took our job” is like loosing an auction and saying “they took your painting”
Yes, but if you facilitate access to foreign workers, let’s say with a “temporary foreign worker program”, like it is the case in Canada, companies will go after them first because they are cheap labor and are easy to abuse. Meanwhile, there are new graduates who struggle to find jobs.
It does not help canadians and it does not help foreigners. Sure, we can always blame the companies, but the government also has it’s part of responsibility by enabling this.
Okey let’s take a look what that program is, citation from Wikipedia :
Workers brought in under the program are referred to as Temporary Foreign Workers (TFWs) and are allowed to work in positions that are not filled by Canadians. The aim was to address skill shortages
It looks to me that the shortage was the reason why program was initiated. So from the information I have, it looks to me you have it backward.
They tried that over here with Brexit. Those darned immigrants stealing our jobs (while also just living off benefits, of course). EU citizens were like, screw this. They left, suddenly farmers were faced with their produce rotting in the fields, because guess what? The Brits don’t actually want to do those jobs.
So what do you think happened next? They had to allow special visas to lure immigrants back in.
Meanwhile, the gammons were still raging that immigrants lower wages because they’ll work for less pay than UK citizens.
the canadian minister of immigration recently admitted that they should have slowed down on immigration sooner.
A politician pandering to the Right doesn’t make it true.
housing and job market crisis aren’t there for no reason, and it’s partly due to immigration.
Nope. Nobody’s forcing employers to exploit immigrants desperate enough to work for less due to fewer opportunities and less support.
Likewise, housing is much more expensive than simple demand would dictate. Landlords aren’t charging as much as is fair all things considered, or even as much as people can generally afford. They’re charging the absolute maximum that they can get away with, which is usually more than people can afford.
They’re charging the absolute maximum that they can get away with
That’s how all economics works. If you found a job where, in your opinion, you were really overpaid for the work burden - would you go to your boss and ask them to pay you less?
The root of the housing problem is undersupply, which imo is due to a nationwide patchwork of NIMBY policies driven by Boomer landlords, especially in big cities. Younger people and renters just don’t fucking vote, especially in the local elections where housing policies are decided. So Boomer retirees ensure that 95% of the city is zoned for single family housing, and no apartments can get built.
If that’s how economics works, just giving us the perfect argument for why economics is a bullshit field. Human beings need shelter to survive. It’s a human right. It’s one of those super important things, up there with water and food.
If you’re buying into an economic system that doesn’t make sure that right is filled, then you have a problem with morality, and perhaps also mortality.
Don’t forget the massive property tax increases and home insurance increases. Both have doubled in less than 10 years. At least they have here in FL with our wack job governor.
Yes but that also has a lot to do with insurance companies finally using climate data for their rates.
Lemmy moment
