capitalism
Out of context: Reply #456
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- monoboy4
We have seen unprecedented level of unearned wealth in the UK thanks to our overheated property market. 1 in 6 houses are now bought with cash whilst those who earn their cash are locked out.
A hedge fund recently spent £100 million in the London property market because it offers a better return than the stock market.
Hard work and a pension will no longer sustain a decent retirement.
Meanwhile, Osbourne has relaxed all the legislation put in place after the 2008 crash by sacking the CEO of the FSA. And has ascerbated the housing crisis with right to buy.
This type of Capitalism only goes one way. The rich get richer, and the poor get poorer until they can't take it any more and riot or worse, wage war.
It's already happening in South America and the Middle East. It has nothing to do with religion. (and a lot to do with climate change).
We need capitalism that works for a greater good. Not just shareholders and self interest. Or we are all fucked.
Those at the top will just escape the pain for a bit longer.
- *levelsmonoboy
- Pretty much what's going on with Australian property too in the big cities.MrT
- *exacerbate (oops, terrible typo).monoboy
- yep - agree wholeheartedly.fadein11
- It's happening everywhere. Here in Denver, one of the hottest US markets, investors have snatched up a good portion of homes, and rents are skyrocketing.formed
- Home prices are typically 10-20% above asking cost, with a line around the block.formed
- Great for all those investors that bought up everything at pennies on the dollar a few years ago.formed
- A correction will force another banking crisis in the next two years. Western economies are no longer productive.monoboy
- 1 mistake is having a central bank.yurimon