I think too much is trapped in real estate.
If they want to save capitalism, they should drop the floor on real estate valuation in the USA.
All at once. But keep the paper assets (mortgage loans, etc) as they were.
This will reduce the top by some, but they will stay on top.
But it will automatically take those at the bottom tiers and push them up a little, enough so that they can afford to live and participate beyond basics.
There will be a delayed effect from a mass real estate drop but as it will be all at once, the worst concern might be an influx of foreign real estate investment that might start driving values up again too quickly.
But I think it could work. New crash is coming within a few years and I don’t want it to be global. I think it can be prevented but there’s going to be changes in some ways.
Non-profits in the USA is a sacred part of how we work, probably because it’s always been a common way for the wealthy to move money tax free.
Income Taxes in the USA are extremely low compared to most nations but you’re right that property tax is where they make up for it.
But the wealthy have tax breaks not available to low-middle income property owners.
They always win yet cry as if they’re losing.
I’d put the crash at 2024. It started years before Trump.
I saw signs of 2024 back in 2001 when I was actively investing. But it’s been coming since post-WW2, accelerating since the 1980s.
Oh I think the best is yet to come!
But Markets will suffer. I don’t think individuals will feel it much.
US needs a lot of work. Maybe it’s just the US’s time to take a backseat to EU and China, possibly with Saudi Arabia. Global powers shift.
But the US definitely can do better and eventually will.
I still see the further future in Africa though. Anyway, good night my friend ‘—-”
Oh, I hope so. Old guard is holding on strong though and the current admin is nothing but a naked view of Washington consensus. It’s something “the people” really shouldn’t be seeing.