Sorry, but @mattyglesias is right about Blackrock and housing.

Trying to everyone homeowners with rising value to make up for anti-inflation wage losses was one of the greatest disasters of the last 50 years.

It matters less who owns the housing than that it gets CHEAPER. /1
Turning everyone into a homeowner with rising housing costs, while also keeping wages low to make goods cheaper, was a massive unearned subsidy to boomers. It let everyone eat the seed corn unsustainably in a direct theft from future generations. /2
There are many progressive countries in which the model is for most people to rent. And that's fine actually!

Housing is to have a home. Houses. Should. Not. Be. Investments.

Not unless you make wages rise exactly in tandem to match. Which we haven't because...inflation! /3
You absolutely cannot
1. Tell everyone to buy a home
2. Incentivize home value growth so prices rise 5x in a generation
3. Keep wages low so burritos/TVs stay cheap
4. Restrict home building for NIMBY reasons

That is theft from the young. It is a powder keg and it will blow up.
And it is infuriating to watch people pretend to be on the left, and use faux-econ-populist or faux-social-justice-washing BS to defend this system--mostly because boomers with massive unearned equity, low density & cheap stuff don't want to pay forward what was stolen. /end
CODA: To be very clear: am I a fan of Blackrock buying up a bunch of houses to absentee landlord? Of course not.

But that's not the fundamental problem here. It matters less who owns the house, than that prices to live in them stabilize and decrease vis-a-vis wages.

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More from @DavidOAtkins

31 May
Folks need to wake up & pay attention. It absolutely can happen here.

When anti-majoritarian fundamentalists start trying to instigate coups, all that remains is a raw struggle among society's key power centers: military, govt bureaucracy, business, labor, & civic institutions
The best way to stop an anti-majoritarian coup is to force society's key power centers to declare allegiance well in advance to constitutional democracy and rule of law. Make it clear that if they try it, no one will play ball with them. /2
Every other consideration of intra-institutional comity or camaraderie takes a backseat when the coup threat comes. The rule of law takes precedence, but within that confine one has to use all the hard and soft power at one's disposal to definitively shut down the insurrection./3
Read 5 tweets
29 May
I think the disconnect is Dem leadership isn't about what the GOP is now. My sense is they finally do get that.

The problem is that Dem leadership thinks this is a temporary condition and that these institutions can revert to "normal" once Trumpism fades.

That isn't happening.
So they're trying to withstand the storm and save America until things can go back to the way they were and the GOP can go back to being a "reasonable" opposition party (ignore, for a moment, the notion of calling party of the Iraq War and Iran Contra "reasonable.") /2
But it's just not coming back. This is what the GOP will be for the next 20 years--which is about how long it will take for the idea of a white evangelical dictatorship to die as a political force. And even then it will still be present in the form of stochastic terrorism. /3
Read 5 tweets
27 May
People *say* in polls that they want cooperation and bipartisanship in government because it sounds nice and that's how families and organizations solve problems.

But that's not what they *actually* want from their elected officials. They want results and cultural validation.
The facts that most Democrats continue to look to *polls* to drive their messaging rather than to the strongest culturally partisan emotional impact--despite continually getting routed by Republicans who do the opposite despite being in the deep minority!--is astounding. /2

Speak from your heart, take a stand, and sharpen the divisions between you and your opponent, forcing the voters to take a stand between you and your opponent.
Read 4 tweets
27 May
This is one of the most important--and most wrong--bits of "how Democrats lost" origin story.

Dems didn't lose the South by being neoliberal. Dems lost the South by starting on a path to anti-racism, and then got destroyed by Reagan and outspent 5-1. The rest was reaction.
Dems started seeking "PMC" votes and Wall St. $ after losing the hardcore racist vote and getting obliterated in fundraising. And even then, they spent a two decades desperately trying to get "bubba" back. Remember Clinton, welfare reform, and Dean's confederate bumper stickers?
It's not like Dems were amazing and populist from 1930-1978, and then greedy people got in charge in 1978. FDR Dems made a deal with the Strom Thurmond Devil, then made the moral choice to break that deal. The rest was structurally determined to try to stay competitive.
Read 8 tweets
19 May
One thing I wish more folks on both the left and right would acknowledge is that everything we've been doing since the Industrial Revolution is a grand, ongoing social experiment with uncertain outcomes.

There is no tradition. There is no stability. We're flying blind. /1
We've been flying blind for 200+ years. We have no idea how fiat currency will turn out. We have no idea what good family policy looks like long term combined with gender equality. We have no idea what good housing policy looks like over generations, w/ prices rising over wages.
A little humility from everyone would be great. We are making it up as we go.

The 1950s were not some halcyon era, even for privileged white people. It was a temporary phase in an ongoing experiment, made possible by temporary forces. Today's policies? Also unsustainable.
Read 5 tweets
19 May
What if I told you all that many of the "masculine" -o endings in romance languages like Spanish actually come from the Latin neuter -um?

And also that while "masculine"-ending nouns are facially gender neutral in romance languages, that still reinforces implicit sexism?
Those Latin -um endings were actually nasalized more like French. No ancient Roman actually said it like "oom", which is why the "m" dropped off in Spanish, French, Italian.

Also, white people didn't invent "latinx."
sorry, should have said neuter *or* accusative case.
Read 4 tweets

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