by curious2 ➕follow (2) 💰tip ignore
"Lind uses the acronym FIRE to reference the broader sector of rent "takers" in the finance, insurance and real estate sectors. The fact that all of these people are doing so well right now means that massive flows of wealth in our economy are changing hands without the production of new tools or services or products, or really without the creation of any new value. Wealthy rentiers are growing wealthier without producing anything. Meanwhile, while you sit in your $3,000-a-month Manhattan studio, you're not funneling that money into sectors of the economy we would ostensibly like to spur, like technology (buy a new computer) or local business (try a new restaurant)."
#housing
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"Lind uses the acronym FIRE to reference the broader sector of rent "takers" in the finance, insurance and real estate sectors. The fact that all of these people are doing so well right now means that massive flows of wealth in our economy are changing hands without the production of new tools or services or products, or really without the creation of any new value. Wealthy rentiers are growing wealthier without producing anything. Meanwhile, while you sit in your $3,000-a-month Manhattan studio, you're not funneling that money into sectors of the economy we would ostensibly like to spur, like technology (buy a new computer) or local business (try a new restaurant)."
#housing