Fact: Since all financial assets are also someone's liabilities, then the total global sum of all financial assets is exactly zero, by accounting identity. Our real wealth is the physical assets. When the financial assets are put to use to create real physical assets, then we become wealthier. It's called industrial policy, and you are right to highlight this difference.
Thanks, that’s a really thought-provoking article.
For housing affordability, tiny houses are vital - but currently live in a legal grey zone.
An Accessory Dwelling Unit that’s under 900 sqft (a studio apt) costs $500,000. A HALF-MILLION dollars. That’s the quote I got from a contractor who specializes in ADUs. That doesn’t include land, as it goes on one’s existing yard. That’s a full sized house, with land, in many places! But only an ADU will get a certificate of occupancy (ie you have the right to live there, and don’t have to live in fear of neighbors getting you evicted).
Compare that with a tiny house, which costs $25k used for a decent one, or $70k -100k. Remember the ADU was $500k. You could buy 20 - TWENTY - nice used tiny houses for the cost of one ADU!
I’ve been starting to work on getting tiny houses zoned as ADUs (which are legal to live in, unlike tiny houses). They can have much less impact on sewage (most do composting or incinerating toilets so not a big sewage dump), take up a tiny fraction of land, are actually affordable for low wage workers unlike a big house, and allow a life of dignity.
Had enough of capitalism yet? Soon it will not matter. The nation will be split into small fiefdoms of power, with AI re-designing an already extinct model of economy, which is not economy, it is extinction period. We will have a dramatic drop in the population, and that will nix the housing crisis. When few are working, fewer will get fed and clothed and given proper medical care. The problem with this kind of 'economy' is that it is parasitic and has no end game, kind of like the Iranian 'war.' What a joke, just like capitalism. It never worked, it just ate and ate and ate, and fresh landfills were right behind. The oligarch balloons are ready to burst. Fiefdoms surrounded by security forces living on the stored rations of the power brokers, who soon will begin eating each other. It is the itch humans just cannot scratch. We are a violent species with lots of lipstick and enough BS to hide behind while Nero fiddles and Rome burns.
Also, I want to challenge the idea that AI will displace most white collar workers. A lot of the PR from the AI industry is meant to entice investors with visions of being able to fire all of their workers, and the hype is working -- investors are pouring hundreds of billions into the coffers of OpenAI and Anthropic. While there are certainly problems, Brian Merchant (also on substack) has the best takes on this; there are real harms, but if you follow Ed Zitron, you will see that the AI industry is built on a lot of BS. So I'm not saying we shouldn't worry about it and plan, but also don't assume they are correct in their fantasies.
The best article yet. It is a shame that there are not a whole lot more like you out there. Please think about running in 2028. Somehow, we the people will find a way to finance you. You have a message that rings true to at least 90% of us; the only ones not liking your ideas are the already insanely wealthy. And they will not go quietly into that good night!! We have the fight of our lives at hand. I hope we are ready!
If we were to supply ourselves with all of our 'needed' resources, we would devastate our national environment. Of course we are doing it on an international scale now so we are devasting other peoples' environments. What we really need is to do more with much less.
Eliminate the top 20%, who provide 80% of consumption, and who will buy whatever the capitalists have to sell? We see it already in China, the "lying flat" movement among university graduates who cannot find employment at a living wage, and the concomitant population collapse. But America has something China has not...an armed citizenry. Watch what happens.
I hope you have a way of getting your writing in the hands of elected officials and candidates, other than just hoping readers will send a link to their reps. They need to be slapped in the face with this.
I get that. And, it would be, I think, also a good idea to have a piece like this, and other similar messaging, brought to legislative aids/staffers of every congressional representative. Not saying it will convert the masses of bought and paid for electeds, but if it could convert a few to join a working class coalition, might be worth the effort, imo.
Our glorious [uppercase ‘D’] Democratic Party functions exactly as intended. The rule of Capital can be and do solely what Marx said Capital is and does.
I suppose if we hope to be able to have more control over our economy and control over our nation, and we can imagine that happening, then it's just as reasonable to imagine having more control over the Democratic Party.
I tend to agree, but "Labors" kinda old,overused, and not inclusive enough (to me). It is baffling and mind boggling how anyone (Including Mr. Corbin) has visions of taking over the (Dem) party. It is locked in sold out and as corrupt and elite controlled as the other one. Attempts beginning back in '68 showed that resistance to popular input and it's only gotten far worse since. With todays internet and advanced social networks, it seems far more feasible to just get people to run somehow....in a party or whatever.
It would be great if you could talk in more detail about what "public ownership" should look like. I get the national investment bank concept, but we've seen the movie on centralized ownership of industry and it never seems to work out well.
My sense is that you are not talking about the Soviet model, or even the current Chinese model, but that control would be much more local at the state county and municipal level. I believe people would be much more comfortable with the concept if they understood that.
Fact: Since all financial assets are also someone's liabilities, then the total global sum of all financial assets is exactly zero, by accounting identity. Our real wealth is the physical assets. When the financial assets are put to use to create real physical assets, then we become wealthier. It's called industrial policy, and you are right to highlight this difference.
Thanks, that’s a really thought-provoking article.
For housing affordability, tiny houses are vital - but currently live in a legal grey zone.
An Accessory Dwelling Unit that’s under 900 sqft (a studio apt) costs $500,000. A HALF-MILLION dollars. That’s the quote I got from a contractor who specializes in ADUs. That doesn’t include land, as it goes on one’s existing yard. That’s a full sized house, with land, in many places! But only an ADU will get a certificate of occupancy (ie you have the right to live there, and don’t have to live in fear of neighbors getting you evicted).
Compare that with a tiny house, which costs $25k used for a decent one, or $70k -100k. Remember the ADU was $500k. You could buy 20 - TWENTY - nice used tiny houses for the cost of one ADU!
I’ve been starting to work on getting tiny houses zoned as ADUs (which are legal to live in, unlike tiny houses). They can have much less impact on sewage (most do composting or incinerating toilets so not a big sewage dump), take up a tiny fraction of land, are actually affordable for low wage workers unlike a big house, and allow a life of dignity.
Had enough of capitalism yet? Soon it will not matter. The nation will be split into small fiefdoms of power, with AI re-designing an already extinct model of economy, which is not economy, it is extinction period. We will have a dramatic drop in the population, and that will nix the housing crisis. When few are working, fewer will get fed and clothed and given proper medical care. The problem with this kind of 'economy' is that it is parasitic and has no end game, kind of like the Iranian 'war.' What a joke, just like capitalism. It never worked, it just ate and ate and ate, and fresh landfills were right behind. The oligarch balloons are ready to burst. Fiefdoms surrounded by security forces living on the stored rations of the power brokers, who soon will begin eating each other. It is the itch humans just cannot scratch. We are a violent species with lots of lipstick and enough BS to hide behind while Nero fiddles and Rome burns.
I wrote about how "National Infrastructure Planning can defeat Trumpism", https://jonrynn.substack.com/p/national-infrastructure-can-defeat, love to get your feedback
Also, I want to challenge the idea that AI will displace most white collar workers. A lot of the PR from the AI industry is meant to entice investors with visions of being able to fire all of their workers, and the hype is working -- investors are pouring hundreds of billions into the coffers of OpenAI and Anthropic. While there are certainly problems, Brian Merchant (also on substack) has the best takes on this; there are real harms, but if you follow Ed Zitron, you will see that the AI industry is built on a lot of BS. So I'm not saying we shouldn't worry about it and plan, but also don't assume they are correct in their fantasies.
The best article yet. It is a shame that there are not a whole lot more like you out there. Please think about running in 2028. Somehow, we the people will find a way to finance you. You have a message that rings true to at least 90% of us; the only ones not liking your ideas are the already insanely wealthy. And they will not go quietly into that good night!! We have the fight of our lives at hand. I hope we are ready!
If we were to supply ourselves with all of our 'needed' resources, we would devastate our national environment. Of course we are doing it on an international scale now so we are devasting other peoples' environments. What we really need is to do more with much less.
Eliminate the top 20%, who provide 80% of consumption, and who will buy whatever the capitalists have to sell? We see it already in China, the "lying flat" movement among university graduates who cannot find employment at a living wage, and the concomitant population collapse. But America has something China has not...an armed citizenry. Watch what happens.
Lewis, more please.
I hope you have a way of getting your writing in the hands of elected officials and candidates, other than just hoping readers will send a link to their reps. They need to be slapped in the face with this.
The idea is to push them out with afightworthhaving.com
I get that. And, it would be, I think, also a good idea to have a piece like this, and other similar messaging, brought to legislative aids/staffers of every congressional representative. Not saying it will convert the masses of bought and paid for electeds, but if it could convert a few to join a working class coalition, might be worth the effort, imo.
Our glorious [uppercase ‘D’] Democratic Party functions exactly as intended. The rule of Capital can be and do solely what Marx said Capital is and does.
End of story.
I suppose if we hope to be able to have more control over our economy and control over our nation, and we can imagine that happening, then it's just as reasonable to imagine having more control over the Democratic Party.
Or replace the Party with something new. Something with the name "Labor".
I tend to agree, but "Labors" kinda old,overused, and not inclusive enough (to me). It is baffling and mind boggling how anyone (Including Mr. Corbin) has visions of taking over the (Dem) party. It is locked in sold out and as corrupt and elite controlled as the other one. Attempts beginning back in '68 showed that resistance to popular input and it's only gotten far worse since. With todays internet and advanced social networks, it seems far more feasible to just get people to run somehow....in a party or whatever.
My other Party name is "Seize the Assets".
It would be great if you could talk in more detail about what "public ownership" should look like. I get the national investment bank concept, but we've seen the movie on centralized ownership of industry and it never seems to work out well.
My sense is that you are not talking about the Soviet model, or even the current Chinese model, but that control would be much more local at the state county and municipal level. I believe people would be much more comfortable with the concept if they understood that.
There is no scarcity. There is control of money by oligarchs and billionaires to keep the unwashed hungry and compliant.
https://fb.watch/HdAuBPAc1a/?