Economy It's here again the yearly reminder about wage disparity between poor and the rich on Wall Street

[PEB]

Yeah, I think the "Wall Street" monolith is a kind of an arbitrary figurehead for an entire economy based on predation.

John Oliver did a really good segment on another such industry last night: manufactured home dealers and lot operators. Venture capitalists buy up mobile home lots and then arbitrarily hike up the rents to persons living there, knowing that they cannot afford to move and are basically a captive consumer base.


People/industries/entities like this add absolutely fucking nothing to the economy, country, or world.

The ending fantastic but true that being said I know that Blackstone Groups Invitation Homes capitalized on the 2008 foreclosure business by going to the banks and snapping up homes in hot areas like LA, Miami, Las Vegas and other popular destinations. This came after a number of small investors where buying up and flipping properties and making nice money on these flips. Blackstone saw it as a opportunity to pick up these distressed properties in these great climates to turn them into rentals. Invitation Homes has over at last count 20 to 30 billion in these properties that it currently rents and the part that is funny about 8 billion of this money came from tax payers who Blackstone used part of the bailout from getting Wall Street banks to fund this at a time when the US Government was plowing billions in bailout to the banks. They also made mad money on the run up post crash on the values of these properties and the rent from them a win win.

Invitation Homes, a Dallas-based single-family rental real estate investment trust and a behemoth in its class, raised $1.54 billion in an initial public offering Tuesday. It priced 77 million shares at $20 each, well within its previously stated range of $18 and $21. The stock opened slightly higher Wednesday.

 

[Ophydian]

Nice to see your attempt at character assassination in place of an actual argument oh intelligent one and all while proving the point about unintelligent people not being smart enough to understand.



No really. Your post put my points in their place. I cannot match your cognitive abilities. Thank Marx.

Character Assassination when all you did was whip out your wallet for a dick and asked everyone to admire it. You expected pleasantries in response? You make 6 figures in rubles?

Your victim mentality had no place here:

 

[EradiatedHaggis]

Character Assassination when all you did was

Make a post you cant refute.

 

[ultramanhyata]

It's just more of the typical folklore of the conservative right. Kind of like the ones about the Christians proving the science professors wrong in class.

Once you've seen the human footprint inside the brontosaurus footprint in the ancient riverbed you can't unsee it.

 

[new_mexico1]

No one expects uneducated people to understand how the world works. Your understanding matches your inability to make a lot of money.

You take your sub-30k pay and barely survive.

I take my 6 digits, pay for what I need to get by, and invest the rest to make even more money. What does that do? It gives the company more money that pays your wages for you to do your minute contribution to the world so the economy can continue and you can work.

And yes, I expect you to believe that its suddenly somehow different today because that lack of world knowledge allows so much air to be between your ears that it can be filled by Communist propaganda.

But I do love seeing threads that prove that the public school system is nothing more than a baby-sitting factory that doesnt actually teach anything of any actual value...the fact that a single person can come out of them without fully understanding how capitalism works is mind-boggling.

Lol. Shut up

 

[Renard]

Raising the minimum wage is just a patch-up solution though. It's like "Fuck it, it's too hard to implement single-payer healthcare, affordable education (= socio-economic mobility), and decent public services... Let's just ask for 15 dollars an hour!" Except 15/hr is illogical and doesn't help large swaths of the population. How is the mother at home with 3 kids benefiting from this? How is the tradesman making 20$ an hour benefiting from this? How is the 20 year old looking at a $100K uni debt in the future benefiting? Not many people are.

 

[kahiljabroni]

I can understand the wall street hate but how many people actually work for the federal minimum wage? Most states have a higher minimum and most jobs routinely pay slightly above minimum to retain employees

 

[PEB]

Raising the minimum wage is just a patch-up solution though. It's like "Fuck it, it's too hard to implement single-payer healthcare, affordable education (= socio-economic mobility), and decent public services... Let's just ask for 15 dollars an hour!" Except 15/hr is illogical and doesn't help large swaths of the population.

The issue if trickle down economics actually worked this would not be an issue. We continue to see little effort on the right or the left especially from establishment from ether party to address this growing issue. Heck even Walmart accesses it as as problem but has done little if anything due to the pressure it's facing from Amazon. Though Amazon did raise minimum wage to 15 dollars an hour but cut benefits such as profit sharing and other benefits so mixed bag.

 

[EradiatedHaggis]

Except 15/hr is illogical and doesn't help large swaths of the population.

And it helps the people those implementing it are saying they are against.

Politicians tell the uneducated masses which are represented in this thread very well, that they are against big corporations that are damaging the economy so they are going to force them to pay a higher minimum wage. This gets the dumb uneducated people to vote for them, increase the minimum wage.

But who can actually afford to pay it? large companies. Who cant? Small and medium sized companies. So who gets hurt? Not the large companies. Who goes out of business? Small/medium sized companies. Who then gets more business? Large companies...who get richer because they then increase the prices of their products to cover the higher minimum wage.

Who just helped the rich get richer? Dumb people who bought into it because they dont understand economics and how the world works. The idiots dont even know that minimum wage is not livable wage.

 

[PEB]

I can understand the wall street hate but how many people actually work for the federal minimum wage? Most states have a higher minimum and most jobs routinely pay slightly above minimum to retain employees

There are still many states that follow the federal minimum wage guidelines and many areas where they will not give you full time hours even being paid federal minimum wages.

 

[Metusalemi]

They'll be jumping out of windows in few years.

 

[JonesBones]

Pleb with another anti-wealth thread. These guys are staying rich and there is nothing you can do about it. Loser. Stop hating on people better than you.

 

[ultramanhyata]

Yeah, I think the "Wall Street" monolith is a kind of an arbitrary figurehead for an entire economy based on predation.

John Oliver did a really good segment on another such industry last night: manufactured home dealers and lot operators. Venture capitalists buy up mobile home lots and then arbitrarily hike up the rents to persons living there, knowing that they cannot afford to move and are basically a captive consumer base.


People/industries/entities like this add absolutely fucking nothing to the economy, country, or world.

Just happened to watch that JO report this morning. I appreciated the writers having the guts to implicate Warren Buffett in this story of vile, capitalist debauchery.

I can't stand the way Billionaire Granddad seems to get a pass on his avarice just because his house isn't as expensive as it could be and because he claims to support closing some of the tax loopholes that favor the super rich.

"Every billionaire is a policy failure." Truer words rarely spoken.

 

[PEB]

Pleb with another anti-wealth thread. These guys are staying rich and there is nothing you can do about it. Loser. Stop hating on people better than you.

Notice how I addressed you in my first post. What do you do for a living you seem to be on here all the time? You nearly have twice as many posts as I have and I have been on here 7 more years. Wow you're posting machine.

 

[JonesBones]

The ending fantastic but true that being said I know that Blackstone Groups Invitation Homes capitalized on the 2008 foreclosure business by going to the banks and snapping up homes in hot areas like LA, Miami, Las Vegas and other popular destinations. This came after a number of small investors where buying up and flipping properties and making nice money on these flips. Blackstone saw it as a opportunity to pick up these distressed properties in these great climates to turn them into rentals. Invitation Homes has over at last count 20 to 30 billion in these properties that it currently rents and the part that is funny about 8 billion of this money came from tax payers who Blackstone used part of the bailout from getting Wall Street banks to fund this at a time when the US Government was plowing billions in bailout to the banks. They also made mad money on the run up post crash on the values of these properties and the rent from them a win win.

Invitation Homes, a Dallas-based single-family rental real estate investment trust and a behemoth in its class, raised $1.54 billion in an initial public offering Tuesday. It priced 77 million shares at $20 each, well within its previously stated range of $18 and $21. The stock opened slightly higher Wednesday.

This information is more than 2 years old as Invitation had its IPO in 2017

 

[PEB]

This information is more than 2 years old as Invitation had its IPO in 2017

Who gives a crap about when the offering was posted, I just posted the story about it going public you troll and how they set themselves up for going public.

 

[JonesBones]

Who gives a crap about when the offering was posted, I just posted the story about it going public you troll and how they set themselves up for going public.

I care. I just looked it up and was thinking of buying it. When I see rich people making money I see an opportunity for me to make money. Blackstone fuckin rules.

 

[BangersAndSmash]

John Oliver did a really good segment on another such industry last night: manufactured home dealers and lot operators. Venture capitalists buy up mobile home lots and then arbitrarily hike up the rents to persons living there, knowing that they cannot afford to move and are basically a captive consumer base.

I saw that video. It's a shit situation, and it's the same exact story in the rental industry as a whole, at least in Florida. Like three giant international real-estate companies have bought up nearly every apartment complex in town, and the first thing they do is re-pave the road near the entrance-gate and then hike the rent up by 10%, and they will consistently raise your rent every time you re-up your lease.

 

[JonesBones]

I saw that video. It's a shit situation, and it's the same exact story in the rental industry as a whole, at least in Florida. Like three giant international real-estate companies have bought up nearly every apartment complex in town, and the first thing they do is re-pave the road near the entrance-gate and then hike the rent up by 10%, and they will consistently raise your rent every time you re-up your lease.

Invest in a Real Estate Trust and get 7% back on your money or whatever. You people never look for opportunity in things. You just see the bad side and pout.

 

[kahiljabroni]

There are still many states that follow the federal minimum wage guidelines and many areas where they will not give you full time hours even being paid federal minimum wages.

Weren't they comparing wall Street vs Full time minimum wage employees? Which like you said further shrinks the pie. My point is there can't be that many