The Denizen & The Plutocracy’s Programme For Growing Inequality

The City wants hot money looted by corrupt elites from outside the overdeveloped world to pour into London and other global centres, where it can be invested in property and thus hyper-inflate the housing market. As a result rents and mortgages get puffed up, and so do potential profits for financial capital as debt increases. As the last crash showed, the periodic failures of this system are often the means by which yet more wealth is transferred from the poor to the rich. The City and its offshoots such as The Housing & Finance Institute want London and many other urban centres blighted with ghost homes, since this forces up house prices and leads to ordinary people overspending on necessities and in debt.

Advertisements
Read more "The Denizen & The Plutocracy’s Programme For Growing Inequality"