For years I have said the rich, the elite, the powerful are not necessarily the smartest people. And, for years I have also been saying that the rich, the elite, the powerful are not automatically deserving of our praise, allegiance, or money. My reasons for these claims are as follows: The more money the rich have, the more money they want. This is not just speculation on my part. The rich must continue to make more money because life in a Capitalistic economy requires that they continue to make more money. Life under Capitalism is like a game of Poker. The more money you have, the more likely you'll win, because you can just raise the stakes until your opponent cannot cover the bet. In otherwords, if you can bet two billion against your opponent's one billion, they are forced to cover regardless of the hand they've drawn or they forfeit. This we see whether the bet is stocks, real estate or anything upon which people invest or speculate. If you can buy a stick then pump the price enough for others to panick buy (FOMO) into that stock, you can sell that stock, withdraw your original investment and the profit before the sheeple even realize it was a pump and dump We saw the same thing happen with real estate more than 15 years ago. While the movie "The Big Short" depicted a stripper buying several houses at one time, my personal experience was a bar tender who was buying three homes at the same time. Both the stripper and my bar tender lost tens of thousands of dollars when they couldn't flip those houses in the collapsing bubble that was the housing market. Today, though the predatory practices are different, the bubble is even worse. I predict the the 1% down mortgages being offered by brokers like Rocket mortgage are going to produce similar results to those produced by so many "Buy here. Pay here." used car dealerships. A person who can only put down one percent on a house most likely does not have the capital required to cover that mortgage if they face any kind of financial emergency. If the prospective home buyer loses their job or there is a medical emergency, that home is going into foreclosure. So, like the used car that gets sold, repossessed, sold again and repossessed again, that house will get sold, repossessed, sold again and repossessed again. The banks are going to have a field day selling the same homes over and over again. It almost feels like our Government is failing to protect homeowners on purpose.
The truly sad part of everything I've pointed here is that they rich and elites don't even try to hide the nefarious things they are doing. While part of the oversight might be due to hubris, I think a big part of it is simply because they are as smart as they think they are, nor as smart as we credit them as being. Just like the French elite who faced the coming guillotines, the World's elite believe none of those on which they impose their will are going to turn against their plans to impoverish us all. Maybe they should consider how they would feel if someone was trying to pillage, plunder and kill them. https://youtu.be/-QAcvmT63Hg?si=YsoYAcKcMaWgUjRn