Discussion:
Even Google Employees Can No Longer Afford Housing In San Francisco
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me
2017-06-18 16:06:24 UTC
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The entire economic system is a rent-seeking, corrupt scam in which financial oligarchs and assorted other parasites suck more and more life out of the economy until it breaks completely. The fact that Google employees are now feeling the repercussions of this, tells you all you need to know. Even a terribly corrupt system can continue until it consumes itself. It is now consuming itself.
http://www.zerohedge.com/news/2017-06-17/even-google-employees-can-no-longer-afford-housing-san-francisco
El Castor
2017-06-18 18:21:35 UTC
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Post by me
The entire economic system is a rent-seeking, corrupt scam in which financial oligarchs and assorted other parasites suck more and more life out of the economy until it breaks completely. The fact that Google employees are now feeling the repercussions of this, tells you all you need to know. Even a terribly corrupt system can continue until it consumes itself. It is now consuming itself.
http://www.zerohedge.com/news/2017-06-17/even-google-employees-can-no-longer-afford-housing-san-francisco
Yawn. More of your ill informed nonsense. Much of the rental property
in San Francisco is owned by individuals -- frequently Chinese and
Italians -- not financial oligarchs. They charge what the traffic will
bear, which is quite a bit since Silicon Valley has expanded north to
San Francisco, and those Google employees are very well paid -- very.
Much of the problem can be traced back to rent control. A large
portion of the rental housing in the City is tied down by rent
control. Once in, renters are good to go for life, as rent increases
are severely limited, and evictions next to impossible. A friend pays
$850 for a one bedroom that would rent for $3,500 or $4,000. She will
be there until she dies. I suspect Rumple may be in a similar
situation. By the way, the East Bay, across the Bay Bridge, is
cheaper. At one time I lived there and commuted. Meanwhile, high rise
condos are being built as fast as possible -- in some cases too fast.
"San Francisco's leaning Millennium Tower seen sinking from space"
http://www.cbsnews.com/news/san-franciscos-leaning-millennium-tower-seen-sinking-from-space/
me
2017-06-18 20:43:53 UTC
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Rent control is one form of 'rent seeking'. So is financialization and the complete control of markets via credit creation and loans guaranteed by government, fraudulent credit ratings, manipulating interest rates, mortgage backed security schemes, etc. There are lots of ways to stack the deck to profit some and screw others in the process. Many of our finest minds are put to work devising them.

The point of the article is not abiut oligarchs own housing units. It's that 'rent seeking' is destructive to the standard of living for increasing numbers of people - as you yourself acknowledged with your rent control example. Rent seeking is not production of goods and services for mass consumption.
El Castor
2017-06-19 09:39:03 UTC
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Post by me
Rent control is one form of 'rent seeking'. So is financialization and the complete control of markets via credit creation and loans guaranteed by government, fraudulent credit ratings, manipulating interest rates, mortgage backed security schemes, etc. There are lots of ways to stack the deck to profit some and screw others in the process. Many of our finest minds are put to work devising them.
The point of the article is not abiut oligarchs own housing units. It's that 'rent seeking' is destructive to the standard of living for increasing numbers of people - as you yourself acknowledged with your rent control example. Rent seeking is not production of goods and services for mass consumption.
Huh? Rent seeking? Why shouldn't renters seek out the best deal that
they can afford and meets their needs? If I look for a house to buy,
is that house seeking? Shopping around for a car -- car seeking?
Buying a refrigerator -- refrigerator seeking??
rumpelstiltskin
2017-06-19 12:56:19 UTC
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On Mon, 19 Jun 2017 02:39:03 -0700, El Castor
Post by El Castor
Post by me
Rent control is one form of 'rent seeking'. So is financialization and the complete control of markets via credit creation and loans guaranteed by government, fraudulent credit ratings, manipulating interest rates, mortgage backed security schemes, etc. There are lots of ways to stack the deck to profit some and screw others in the process. Many of our finest minds are put to work devising them.
The point of the article is not abiut oligarchs own housing units. It's that 'rent seeking' is destructive to the standard of living for increasing numbers of people - as you yourself acknowledged with your rent control example. Rent seeking is not production of goods and services for mass consumption.
Huh? Rent seeking? Why shouldn't renters seek out the best deal that
they can afford and meets their needs? If I look for a house to buy,
is that house seeking? Shopping around for a car -- car seeking?
Buying a refrigerator -- refrigerator seeking??
You're not serving billionaires when you do that, and those are
the only "real people" for Werner. Everyone else is just garbage.

Speaking of which, a story is developing that seems to me sad
news. Amazon is taking over "Whole Foods" (where I almost
never have shopped myself). I'm hearing noise this morning
that the Amazon search engine may eventually start "blocking"
sites not "friendly" to Amazon, and directing Amazon searches
to "friendly" sites exclusively. That will be a sad day. I'll no
longer be able to depend on Amazon to get a good deal such as
this one: the best pens in the known universe at a great price.
I recently bought a box of 12, blue, 0.7 (not 0.5) mm tip width,
for a great price, since nearly all my identical old ones are
running out of, or had run out of, ink.
http://tinyurl.com/ycdqza5b
The only drawback is that if you're carrying one in your jeans
and the cap comes off, you may end up with an indelible ink
spot on your jeans.



(I rarely use pencils except for cleaning cat hair out of brushes.)
me
2017-06-19 13:10:47 UTC
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Rent seeking is an economics term. It has nothing to do with competitive markets. Rent control is controlled rent. It's getting an unearned benefit. This is similar to bailed out bankers.
http://www.investopedia.com/terms/r/rentseeking.asp

mg
2017-06-18 21:44:42 UTC
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On Sun, 18 Jun 2017 09:06:24 -0700 (PDT), me
Post by me
The entire economic system is a rent-seeking, corrupt scam in which financial oligarchs and assorted other parasites suck more and more life out of the economy until it breaks completely. The fact that Google employees are now feeling the repercussions of this, tells you all you need to know. Even a terribly corrupt system can continue until it consumes itself. It is now consuming itself.
http://www.zerohedge.com/news/2017-06-17/even-google-employees-can-no-longer-afford-housing-san-francisco
People hate to commute. Commuting really sucks. Companies
that provide large salaries tend to be concentrated in
relatively small areas. Therefore, the area available for
nearby housing is also relatively small. As a result, very
rich engineers, scientists, business and finance people, and
high-tech workers compete against each other to drive the
prices up.

It simply a matter of supply and demand.
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