• You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our free community, you will have access to additional post topics, communicate privately with other members (PM), view blogs, respond to polls, upload content, and access many other special features. Registration is fast, simple and absolutely free, so please join our community today! Just click here to register. You should turn your Ad Blocker off for this site or certain features may not work properly. If you have any problems with the registration process or your account login, please contact us by clicking here.

"Let them eat cake". (B/M)illionare CEOs reactions to inflation

ceecee

Coolatta® Enjoyer
Joined
Apr 22, 2008
Messages
15,913
MBTI Type
INTJ
Enneagram
8w9
I am assuming you don't mean that in violent terms.

How much of your ire would go away if housing became affordable again? How much of it comes from other things?

I can think of two places where basic human rights get supplanted by status seeking: Housing and higher education. I feel like if housing became ever more affordable then people may no longer need (or rather feel they need) higher education, bringing prices down there too.
I think for DC (and myself) it really depends on the day. The entire quote makes more sense - "When the people shall have nothing more to eat, they will eat the rich". - Rousseau
Personally, No War But The Class War is the way I like to frame it best. Or "I'm no pacifist. I'll fight in a war, but I'll fight in the only war that counts, and that's the class war"
 
Last edited:

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
Here's a clip of Jon Stewart interviewing Larry Summers (if you can stomach it).

I should say that every time people talk about inflation in the context of inequality and mention gas and eggs, but don't mention rents and mortgages, I break a little bit inside. That's why the permanent housing deflation thread exists.

I realize that rents and mortgages are more "locked in". But that locked-in nature of things in an inflationary environment just creates more inequality on the basis of nothing more than the timing of life events.

People need shelter to live. So many of the things needed just to live are inflating beyond belief. But housing changes are generally rare life events (except for speculators). I think the sheer dumb luck of timing of life events leading to massive disparities in wealth leads to a lot of resentment.

If the environment for necessites to live were permanently deflationary, I think the resentment would disapate. It'd also get rid of speculators and status seekers.

What do you guys think?
 

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
I do want to point out a good track record for something so that it is not all doom and gloom.

World-population-in-extreme-poverty-absolute.svg

Now we just need to move on to other aspects of Maslow's hierarchy for similar trends. Shelter is the main one under stress for physiological needs.
maslow-hierachy-of-needs-min-1024x724.jpg
 

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
For the EA folks(and other supposedly "rational" people) more interested in AGI because of its existential risk, I present an argument for caring about housing affordability.
Like with human cloning, we can put something in place to create governance as AI becomes more general.

But there is an existential risk that even the likes of Elon Musk considers potentially worse than anything he mentioned before and that is population collapse. The root of this is involuntary childlessness. There are many parents who wanted children, but because of economic circumstances decide to delay children, which then leads to involuntarily not moving through that phase of life.

Some people don't want children. That's fine. Some people physically can't have children, but want to, and people are working on solutions for these people. But close to 80% of childless people are that way mainly because economics keep them from moving to the next phase of life.

The affordability crisis in housing (and other inflating things) that sparked over the last three years (unless completely reversed soon) could be the nail in the coffin of humanity. It'd just show up 40 years from now.


edit: Counterpoint to the documentary and my own post:

But even in the places where replacement population birth isn't happening, they really need to open up immigration. I actually find the celebration of smaller older populations naïve.

edit2: I started another thread on population collapse. https://www.typologycentral.com/thr...cline-happening-and-is-it-a-bad-thing.116719/

Here is an analysis on how it affects inflation though: https://www.economy.com/getlocal?q=a7c139c0-2b8c-4abf-9b65-bd8b11392939&app=eccafile
 
Last edited:

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996

I kinda feel like some of this is the reversal of 2008. The 1% ers seems like they are taking it on the chin a lot worse this time than aferage people. If it leads to average people getting hurt eventually, I think something can be done. But I feel like we just need all the real estate speculators deal with the issues.
 

The Cat

Just a Magic Cat who hangs out at the Crossroads.
Staff member
Joined
Oct 15, 2016
Messages
23,588

Apparently, greedflation is a term now.
Albert Edwards...master of the understatement that guy... Well gosh golly gee willikers Mr, do you really think that maybe kinda possibly, there could sorta hypothetically be "something wrong" with the dragon sickness system with which we run our lives...
giphy.webp

 

Virtual ghost

Complex paradigm
Joined
Jun 6, 2008
Messages
19,826
Also, meanwhile in France, the richest man and richest woman in the world are French.

I know.
After all France is currently ruled by neoliberal libertarian right. What is ideology that is quite likely to "produce" some very rich people.



EU Parliament elections projection

However what is going on there with protests is taking it's tool. The ruling party of France is part of Renew Europe group, that is yellow on this graph. However it is obvious that this is the line that is falling the fastest of all of them. Plus that trend started some 2 months ago when the protests started. Also when you click "change to seat view" for the election results in 2019 it is easy to notice that clearly the biggest pack of yellow is in French delegation. So yeah, there will be changes in France down the road.
 

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
I'm pretty omnivorous in my data consumption. This guy called Elon Musk buying Twitter long before the mainstream.

He's been demonetized on YouTube pretty hard so he advertises his thing pretty heavily. I wouldn't take that as a signal.

We'd just need to figure out how bad BlackRock influence in politics really is:
 

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
Remember that the people espousing the same views as young people are the likes of Bernie Sanders and Robert Reich.


Working people were like the proverbial slowly boiling frog, except the heat got turned up too quickly recently and the frog noticed.

The generation on whom the heat [measured simply by (money for human needs)/(median income)] was turned up the most was on young people.

It's structural coincidence, not ageism.

Here's a Physicist breaking down academia as Multi-Level Marketing scam:

Almost every job at this point has almost the same structural issues.
 
Last edited:

The Cat

Just a Magic Cat who hangs out at the Crossroads.
Staff member
Joined
Oct 15, 2016
Messages
23,588
Remember that the people espousing the same views as young people are the likes of Bernie Sanders and Robert Reich.


Working people were like the proverbial slowly boiling frog, except the heat got turned up too quickly recently and the frog noticed.

The generation on whom the heat [measured simply by (money for human needs)/(median income)] was turned up the most was on young people.

It's structural coincidence, not ageism.

Here's a Physicist breaking down academia as Multi-Level Marketing scam:

Almost every job at this point has almost the same structural issues.
also a lot of frogs got into to tik toc and that really helped them notice the boil.
 

ceecee

Coolatta® Enjoyer
Joined
Apr 22, 2008
Messages
15,913
MBTI Type
INTJ
Enneagram
8w9
also a lot of frogs got into to tik toc and that really helped them notice the boil.
Yep. No mystery behind that - Let's ban TikTok Chinese spyware blablah blah!!
 

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
Part of my omnivorous data consumption:

It's interesting to see a wide variety of people saying the same things I have been.
 

ygolo

My termites win
Joined
Aug 6, 2007
Messages
5,996
Lol. It won't be too long before financial advisors throw up their hands and directly advise young people, "Want to get ahead financially? Fight financial inequality!"

Here's how money works right now for young people (assuming like most young people, you can't rely on the bank of mommy and daddy).

 
Top