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   Daniel Lakeland (dlakelan@mastodon.sdf.org)'s status on Wednesday, 01-May-2024 06:57:43 JST Daniel Lakeland

   I'm against student loan forgiveness, not because I'm against giving the money out... but because I'm against giving it out *only* to student loan debtors. Here's the idea... give everyone equally a #UBI and let the people with student loans repay it from there. I'm ok with limiting interest rates too, and rolling back capitalization of back interest... totally fine with that. But if we're creating money out of thin air and giving it to anyone, it should 100% be equally distributed.

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     Daniel Lakeland (dlakelan@mastodon.sdf.org)'s status on Wednesday, 01-May-2024 06:57:41 JST Daniel Lakeland

     in reply to

     Here's housing starts per capita: They are half as high as they were in 1960's.

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     Daniel Lakeland (dlakelan@mastodon.sdf.org)'s status on Wednesday, 01-May-2024 06:57:42 JST Daniel Lakeland

     in reply to

     A huge huge huge part of why we have such a non-functional economy with wealth inequality so high is because *banks create money* but they give it almost exclusively to rich people. In this graph you can see commercial debt, CPI adjusted, per capita, through time. Repeatedly we give brand newly created money (aka Loans) to business owners, they fuck shit up, then we bail them out again, it's an amplifying oscillation. https://fred.stlouisfed.org/graph/?g=1lz5V

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     Daniel Lakeland (dlakelan@mastodon.sdf.org)'s status on Wednesday, 01-May-2024 06:57:42 JST Daniel Lakeland

     in reply to

     When you create money and give it to rich people, rich people buy up capital assets with it, consolidating businesses, stuff like "private equity firms". These seek out short term financial gains rather than long term *real asset* gains.

     Here's mortgage asset level per capita CPI adjusted... To get mortgage loans you have to be wealthy... So again wealthy people buy up houses, which we aren't constructing much anymore either.

     Bill repeated this.