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The same shareholders invested in NYC real estate are also big FANG investors ( namely top 20% of Americans ). Assets gets correlated over time due to fewer ha
by wrong_variable 8y ago
The same shareholders invested in NYC real estate are also big FANG investors ( namely top 20% of Americans ).
Assets gets correlated over time due to fewer hands having larger slice of the pie.
Having a market economy with extremely high inequality leads to the same type of results as you would expect from Stalin's 5 year plans.
It makes the financial system fragile and brings a screeching halt to new business formation.