You will own nothing

FACT: There's a strain of Coronavirus which kills by breaking your hyoid bone. It's called the "Barr-Epstein" virus.

Ghislaine Maxwell got 20 years, and Stephen Schwarzman is still out there, buying up houses to rent to your kids.

R. Kelly got 30 years. I guess we’ll never know who all the clients were…

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Institutional investors have bought hundreds of thousands of single-family homes, many in Black communities. Critics say it’s creating a ‘generation of renters’

This is what bugs me: “Al Green, the Democratic chair of a House subcommittee called out ‘predatory’ behavior by institutional investors”

Where ya been, Al?

This ‘institutions hoovering up thousands of single-family homes with cheap Fed fun coupons’ cancer started under Obama and Bernanke’s watch, metastasized under Trump, and now has spread to the brain under Joe Biden.

This situation is a direct result of policies of Ben Bernanke Inc., Warburg Pincus’ Tim Geithner, Wall Street Motivational Speaker Janet Yellen, and Private-Equity Man Jay Powell.

“During one of the greatest recoveries of land value in the history of the country, from 2010 and 2011 at the bottom of the crisis to now, we’ve seen huge gains in property values, especially in suburbs, and instead of that accruing to many moderate-income and middle-income homeowners, many of whom were pushed out of the homeownership market during the crisis, that land value has accrued to these big companies and their shareholders.” - Daniel Immergluck, a professor of urban studies at Georgia State University

I had a very long thread on this topic with many different links and tangents:

“Neighborhoods that were formerly ownership neighborhoods that were one of the few ways that working-class families and communities of color could build wealth and gain stability are being slowly, or not so slowly, turned into renter communities, and not renter communities owned by mom-and-pop landlords but by some of the biggest private-equity firms in the world” - Peter Kuhns

The Fed is the enabler of these private-equity firms and hedge funds. The Fed has their backs, always.

One example from Christopher Leonard’s, The Lords of Easy Money:

The central bank had transformed the financial landscape by swamping it with money and in doing so had destroyed one monetary regime and replaced it with a new one. But there was no reliable instrument to measure the terrain of the new regime. This fact was made a stark reality on Monday, when the repo market blew up. The resulting market crisis almost became a full-fledged financial crisis, at a moment in history when the markets were supposed to be stable and in good health. The only reason that this didn’t happen was that the Fed stepped in, almost instantaneously, and initiated a $400 billion bailout. This bailout was unprecedented, and it benefitted a small group of hedge funds that had essentially hijacked the repo market and used it as a vehicle to make risky bets. The Fed saved them from the consequences of those bets.

• “A lot of what the Fed now has to do, remember, is going to go to these nameless hedge funds. Nobody wants to name them, because nobody wants to know that quantitative easing is there to bail out some hedge funds." - Raoul Pal, March 16, 2020

• "Some people talk about the Federal Reserve coming in & spending all this money to support the credit markets & to inject liquidity into the system - it was not meant for middle-class America. It was not. This was bailing out many of these billion-dollar hedge funds..." - Chris Cole, November 2020

Then again…

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#etf

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Beware of who you listen to
Beware of what you believe
Ain't nothing I can do to you
To make you love

- Al Green

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