4 ms·
"31% Can't Pay the Rent" != "31% Are Not Paying Rent" "Can't" indicates they are unable, whereas I suspect at least some are taking advantage of the current si
by bArray 6y ago
"31% Can't Pay the Rent" != "31% Are Not Paying Rent"
"Can't" indicates they are unable, whereas I suspect at least some are taking advantage of the current situation [1]. Any situation where it's possible to take advantage, you can almost guarantee that people will.
This is not the way forwards - not paying rent will have a large knock-on effect for landlords (which, despite some sentiment, isn't necessarily the 1%). The US government needs to provide money if they are going to demand that people stay at home and not work.
Ultimately they either bring the economy to a screaming halt (entirely) or trickle money to those unable to work in order to keep things going. In my opinion stalling the economy is a bad idea - it can cost a lot of time and money to get it going again.
[1] https://news.yahoo.com/rent-strike-idea-gaining-steam-170345369.html https://news.yahoo.com/rent-strike-idea-gaining-steam-170345...
- WrtCdEvrydy 6y agoThe economy will be fine... the black plague had great economic outcomes as it always does when a whole bunch of people die. We should reopen the entire country tomorrow... no travel restrictions, open every border and see what happens.
- mkl 6y agoMaximising economic opportunities for lucky survivors is not the goal here.
- save_ferris 6y agoHalf of the European population died during the Black Plague, it’s simply not acceptable to use that case as a reference for economic growth. Governments have a responsibility to all their citizens, not just stockholders.
- simonh 6y agoDoes the economy exist to serve the needs of the people, or do the people exist to serve the needs of the economy?
- missedthecue 6y agoThe 'economy' isn't some wild and mystic beast that we must tame into subservience. It's the way we measure the flow of money, goods, and services. By definition it cannot 'serve' anyone.
- jahaja 6y agoNeither is it some mystic natural law?
- capsulecorp 6y agoStart by banning China (and any other country that doesn't allow US citizens to own land) from owning property in the US. Something tells me when you get rid of all the foreign profit lords, that property will be much more affordable in many areas.
- save_ferris 6y agoIt’s not that simple, unfortunately. US businesses and governments have heavily relied on Chinese capital for various economic initiatives, from transit to manufacturing.[0] Barring one of our largest financial partners (and largest creditors) would certainly have a devastating effect on our economy. 0: https://www.americanmanufacturing.org/blog/entry/congress-examines-the-threat-of-chinese-state-owned-enterprises-to-the-u.s https://www.americanmanufacturing.org/blog/entry/congress-ex....
- shard972 6y agoWhy isn't it devastating the Chinese economy by banning foreign the same kinds of foreign investments?
- hn_throwaway_99 6y agoMy guess is the Chinese are eventually going to want something real when they ship us tons of real goods and we ship them paper.
- FireBeyond 6y agoHow do you make that happen, realistically? "You must sell." "Okay, this 3br house is $10MM. It's not selling." Eminent domain? Are we going to do that for the huge swathes of vacant homes we already have, too?
- deleted 6y ago[deleted]
- tree3 6y agoThe government already values homes for the purpose of property taxes.
- simonh 6y agoA study of the Spanish Flu pandemic indicates that an early severe lockdown actually minimises the long term economic impact. https://www.weforum.org/agenda/2020/04/pandemic-economy-lessons-1918-flu/ https://www.weforum.org/agenda/2020/04/pandemic-economy-less...
- SpicyLemonZest 6y agoNo city I'm aware of enacted a severe lockdown by our standards during the Spanish Flu. I haven't seen any record of a ban on private gatherings, or a general shutdown of non-essential businesses (as opposed to a targeted ban of bars and restaurants).
- aksss 6y agoAnd more people did die as a consequence. I’m not being smart, maybe that was the better option compared to what we’re doing now, all things considered. We may be at or close to exemplifying the idiom of “cutting our nose to spite our face”.
- Spooky23 6y agoKeep reading. Here’s my city. https://www.influenzaarchive.org/cities/city-albany.html# https://www.influenzaarchive.org/cities/city-albany.html# NYC didn’t shut down, but had an active surveillance program to monitor the situation and act. That’s one of the real tragedies of the complete failure of the federal government. Their ineptitude will kill thousands and impoverish millions.
- SpicyLemonZest 6y agoThis looks consistent with what I said. The city shut schools, libraries, everywhere that involved indoor public gatherings, but I'm not seeing anything here about bans on private gatherings or general orders to not leave your house.
- simonh 6y ago
- AnimalMuppet 6y agoYour first two paragraphs are an interesting point. If I were laid off (or just hours reduced to zero for the duration), I wouldn't be paying bills that I didn't have to pay. I'll save my money for groceries; the rent can wait. Either I get a check from Uncle Sam, or the renter cuts me some slack, or I go live in my car, but I still have to eat.
- _emacsomancer_ 6y ago> This is not the way forwards - not paying rent will have a large knock-on effect for landlords (which, despite some sentiment, isn't necessarily the 1%). Maybe this is the time for them to pick up some useful skills. Maybe learning to code? I hear that's good.