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Rent-seeking is getting stronger and stronger because money is getting cheaper and cheaper. Those with good credit lines get ahead of the poorer ones and force
by polskibus 9y ago
Rent-seeking is getting stronger and stronger because money is getting cheaper and cheaper. Those with good credit lines get ahead of the poorer ones and force them to pay them rent. I wonder if a reset like 2007/2008 is coming.
- mjevans 9y agoIf there is a reset I hope it's actually effective at fully deflating the bubbles this time.
- zanny 9y agoI think this is much closer to the issue. It is not about solvency of the global economy as a whole - that is absurd, there is so much loose capital floating around in corporate coffers and the stock market and HN is just a testament to how relatively loony ideas can still get millions in rounds. The real issue is the dramatic wealth divide that has been growing worse over time, which bleeds into capital ownership by the rich as a means to extort rents from the poor. It doesn't matter what generation you are from - these debts exist not just to pay for past generations but to keep the current ones under foot of the wielders of the capital. Debt isn't just some evil force from the shadows, it is a business run for profit as the ultimate rent seeking, and is wholly intentional.