Spud picks up on a conversation about rentierism. Thinks it’s fascinating, a real issue that just has to be dealt with properly. I agree of course:
In a week where a fogged brain has prevented very little real thinking, this has been one of the few issues that has really engaged me. Rentierism has disguised itself as if it is normal business activity. It is not even close to it, but because it has been able to sow confusion as to its nature and purpose it has become the de facto norm for those seeking to maximise their profits in our economy, leaving the rest of us dispossessed. That is true both politically and economically since the acceptance of rentierism is now normal amongst mainstream political parties. That is why we need to name it, but the aim is not to shame it: the aim should be to eradicate the abuse it creates.
One of the reasons I agree is that the people having that discussion about rentierism are a fellow Senior Fellow at the ASI, the former executive director of the ASI and so on over at Works in Progress.
Meaning that Spud is going to change his mind as soon as that covid fog clears, right?
As what passes for Spud’s brain has been fogged for several decades, I wouldn’t count on it clearing up any time soon.
You will own nothing and you will be happy. Renting it from us.
How does the prof stand on WEF and the reset?
In a nother week where a fogged brain has prevented very little real thinking…
The caped potato glimpses the truth!
Is this the 168th bout of covid or the 169th? I’m not sure.
What does he mean by rentierism? I’ve noticed on financial comment threads that Joe Bloggs misunderstands “rentier”, supposing that it refers solely to landlords who let housing.
A quick glance at Wiki says rentierism is where the state gets a large part of its income from foreigners.
This is evidently wicked, which I’d agree with when they’re screwing me. Of course it’s only right and natural if I’m screwing them.
dearieme– My guess is that he’ll expand the definition to include banks holding on to your money and making money with it even though they could just hit the return key to create their own
There is one thing that Spud is good at: he’s a grand master when it comes to jumping on bandwagons. Has he ever seen one and not jump on?
BiND, that depends on whether there’s an outrage bus going the other way
Fair point, Henry
He’s asked his sycophants to suggest alternate names for ‘rentiers’. Judging by the hate filled bile which they spew forth and which Spud approves of, they might as well suggest ‘kike’.
Spud’s extended view if renter includes anyone who receives passive income or gains. Which obviously includes anyone who saves. Even if they save in his deranged green bonds.
It’s a very revealing post. He loathes anyone with savings, a private pension, buy to let property and shares, presumably because he doesn’t have any himself. His only asset appears to be the end terrace in Ely.