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

[ygolo]

eat these motherfuckers before they escape in their generational ships.

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.

 

[ceecee]

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"

 

[ygolo]

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]

I do want to point out a good track record for something so that it is not all doom and gloom.

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.

 

[ygolo]

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:

https://www.wired.com/story/elon-musk-population-crisis/

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

 

[ygolo]

Column: US money supply falling at fastest rate since 1930s

U.S. money supply is falling at its fastest rate since the 1930s, a red flag for the economy and financial markets.

www.reuters.com

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.