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Ok, because there are cases of real estate in NYC, SF, and London being bought to merely keep money from loosing value you conclude that capitalism has failed?

Ok, because there are cases of real estate in NYC, SF, and London being bought to merely keep money from loosing value you conclude that capitalism has failed? The reason for this real estate bubble (money loosing value) being the ECB's and the Fed's inflationary policies and low interest rates (hence a consequence of state action)? And as a remedy you propose the state or city should buy real estate to keep housing affordable (rather than changing regulations)? So that some pseudo hipsters in Berlin's fashion quarters can keep living on social welfare (ok I'm taking that one back :) but I can tell you the taxpayers of Southern Germany, Hesse, Hamburg (and Saxony I believe) aren't amused to finance Berlin decadence [1]. I can only appeal to your computer science skills to analyze the situation rationally, rather than buying into social-romantic nonsense. [1]: since over half the residents of Berlin have their hands in the pocket of the state in one form or another, the strategy of the Senate of Berlin seems to be to "buy" their electorate with money they get from other German countries, when actually Berlin rents are much lower than in all other big German cities

bogomipz 10y ago
>"Ok, because there are cases of real estate in NYC, SF, and London being bought to merely keep money from loosing value you conclude that capitalism has failed?" Nice try, nowhere did I even remotely find fault with capitalism. Capitalism and a urban planning are two completely orthogonal concepts. You seem to be conflating the two an maligning a vote for some kind of housing policy as a vote against capitalism which is just ridiculous. They are not mutually exclusive. >"The reason for this real estate bubble (money loosing value) being the ECB's and the Fed's inflationary policies" And try to remember why central banks had to loosen the money supply. Because in 2008 the global financial system was brought to its knees by banks who believed that "the market will look after itself." And who bailed those institutions out? The taxpayers did what amounted into a systems of "privatize the rewards and socialize the risks." Typical neo-liberal bullshit hypocrisy, you have no problem accusing everyone else of "social-romantic nonsense" though. >"I can only appeal to your computer science skills to analyze the situation rationally" Spoken like a true technocrat, your'e right there's probably a good formula to explain the problem away. >"So that some pseudo hipsters in Berlin's fashion quarters can keep living on social welfare" So you have just reduced a multi-ethnic city with a population of 3 million people to a single narrow demographic. You are obviously trolling.
- tannhaeuser 10y ago
  I was just kidding re: Berliners. Concerning the so-called financial crisis: I remember it all started with sub-prime real estate credits in the US, the reason for their existence being politically motivated ("everyone should be able to afford housing" or, less favorable, "we're going to buy our electorate by keeping interest rates low")

bogomipz 10y ago

>"Ok, because there are cases of real estate in NYC, SF, and London being bought to merely keep money from loosing value you conclude that capitalism has failed?" Nice try, nowhere did I even remotely find fault with capitalism. Capitalism and a urban planning are two completely orthogonal concepts. You seem to be conflating the two an maligning a vote for some kind of housing policy as a vote against capitalism which is just ridiculous. They are not mutually exclusive. >"The reason for this real estate bubble (money loosing value) being the ECB's and the Fed's inflationary policies" And try to remember why central banks had to loosen the money supply. Because in 2008 the global financial system was brought to its knees by banks who believed that "the market will look after itself." And who bailed those institutions out? The taxpayers did what amounted into a systems of "privatize the rewards and socialize the risks." Typical neo-liberal bullshit hypocrisy, you have no problem accusing everyone else of "social-romantic nonsense" though. >"I can only appeal to your computer science skills to analyze the situation rationally" Spoken like a true technocrat, your'e right there's probably a good formula to explain the problem away. >"So that some pseudo hipsters in Berlin's fashion quarters can keep living on social welfare" So you have just reduced a multi-ethnic city with a population of 3 million people to a single narrow demographic. You are obviously trolling.

tannhaeuser 10y ago
I was just kidding re: Berliners. Concerning the so-called financial crisis: I remember it all started with sub-prime real estate credits in the US, the reason for their existence being politically motivated ("everyone should be able to afford housing" or, less favorable, "we're going to buy our electorate by keeping interest rates low")