5 Matching Annotations
  1. Jan 2024
  2. docdrop.org docdrop.org
    Video: Marjorie Kelly on the Capitalism Crisis: “Wealth Supremacy” is Killing Us (DocDrop)
    5
    1. stopresetgo 04 Jan 2024
      since then, American families have lost more than $7 trillion in equity in their homes. There's been a lot of foreclosures, but guess who's buying up those foreclosed homes? 00:12:49 It's big capital. They're stepping in and now they're financializing houses.

      • for: speculative investing - housing, speculative investing - antidote - example - Cincinnati

      • description

        • speculative institutional investors have bought up trillions of dollars of foreclosure homes and increase profits for their shareholders by:
          • neglecting maintenance
          • raising rents
          • pursuing aggressive evictions

      • speculative investing - antidote - example

        • In Cincinnati, the Port of Cincinnati bought back 200 homes from private equity firms and did the opposite
          • stabilize rents
          • perform required maintenance
          • training renters to become home owners
      speculative investing - example - housing extractive investing - example - housing - Cincinnati
    2. stopresetgo 04 Jan 2024
      One economist we talked about, talked to us about this and said, we don't really make that distinction in our society, and we need to start making it.
      • for: productive vs speculative / extractive investing
      productive vs speculative / extractive investing
    3. stopresetgo 04 Jan 2024
      I have a financial advisor who came to me with an investment opportunity, not that I'm some big mucky muck, but I have a little bit of investments and it was investing in wind. And I read through the materials and I was, and I went to my advisor and I said, so am I actually investing in the productive growth and development of wind farms?

      • for: example - financial investor ignorance

      • speculative investing - example

        • Marjorie tells the story of her financial investor who was clueless about whether this investment she was advocating for was derivatives that invest nothing in production and development of wind technology, or not.
      speculative investing - example personal story - speculative investing
    4. stopresetgo 04 Jan 2024
      when we're investing in the stock market, we're mostly just hoping that the value of those shares will rise. That money is not actually reaching companies and being used in productive ways. And that's true. We can see it with private equity too.

      • for: speculative investing - example

      • example - speculative investing

        • stock market
          • money is not reaching companies and being used in a productive way
          • part of it must be, but whenever shareholders take earnings, then it's extracted out
        • private equity
          • when private equity firms buy companies then layoff staff and cut back spending on services, they pocket all that money for the shareholders. It's a way for the rich to maintain their supremacy position

      • comment

        • In its simplest expression, it is greed in action
        • It is what maintains the 1% / 99% divide

      • epiphany

      • new meme
        • We need to replace WALL street with WELL street!
      speculative investing - example speculative investing -greed 1% vs 99% epiphany - WELL Street
    5. stopresetgo 04 Jan 2024
      we're not in the economy of the 1950s anymore. And we act as though we are, that finance is this productive force and it's building, it's building wealth. Well, for the most part, it's not. It's, there's so much financialization, so many financial assets, that they've become an extractive force. And a big piece of this 00:06:37 is that we're not really distinguishing between productive investments and speculative investments

      • for: quote - Marjorie Kelly, quote - finacialization, progress trap - financialization, progress trap - capitalism, speculative investing

      • quote: Marjorie Kelly

        • we're not in the economy of the 1950s anymore.
        • And we act as though we are, that finance is this productive force and it's building, it's building wealth.
        • Well, for the most part, it's not.
        • There's so much financialization, so many financial assets, that they've become an extractive force.
          • And a big piece of this is that we're not really distinguishing between
            • productive investments and
            • speculative investments
      quote - Marjorie Kelly quote - financialization progress trap - financialization progress trap - capitalism speculative investment productive investment speculative investing progress trap - speculative investing
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    docdrop.org/video/mH2eGIHXH5M/