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Joined 7 days ago
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Cake day: April 29th, 2025

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  • What if I’m against immigration due to a housing bubble that is destroying the poor and dramatically increasing price to income ratios, am I a racist or a saint?

    I think anyone with a brain can see that in many countries mass immigration is being used to depress wages and invert the phillips curve after QE, or to prop up GDP to avoid a technical recession in favor of a per-capita recession, which is for some reason not defined or acknowledged. It also clearly hurts the poor and benefits the rich via asset price inflation and higher rental income.






  • toastmeister@lemmy.cato196@lemmy.worldrule
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    4 days ago

    Central bank monetary policy requires that we pay 2% more for goods every year as technology makes things cheaper and we exclude asset price inflation. They construct a wall of debt via low interest rates for inelastic goods like housing in order to provide a windfall to boomers in order to force the prices of goods upwards, every new mortgage new money supply being created.

    That wall of debt that is gatekeeping inelastic shelter is what poverty looks like, prices can’t rise without providing new money supply, and some poor smuck holding that IOU for the first movers to consume. Blaming the rich, whose nominal asset value is inflated by this system, is a naive view; they are simply being spoon fed wealth in a desperate attempt to get them to consume a portion of it. Every bailout for any type of correction caused by an error or oversight in the system is then funneled back to them as wages are debased.

    This likely explains the fanaticism around Bitcoin and gold, I think we can all see who is served by the existing system, and its definitely not the poor.