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Tuesday, September 18, 2018

Gentrification Is A Policy — Not A ‘Natural’ Process

Reprinted with permission from Creators.

Gentrification is a function of power, not natural law or economic inevitability. It occurs when wealthy, politically connected interests make decisions in closed-door meetings to take over the neighborhoods of people who have little money and power and thus no effective voice or recourse in the taking. The takers usually make a pretense of negotiating with longtime property owners. But it’s a scam, for the developers hurl high-pressure, low-ball pitches at the locals, overpowering families who can’t afford lawyers to go to bat for them.

Renters are worse off, rarely even getting fair notice that a Dickensian disruption is coming at them.…

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Trump May Blunder Into Another (And Worse) Financial Crisis

Reprinted with permission from AlterNet.

At summer’s end, the U.S. economy looks to be sizzling. Unemployment is low. Growth is higher than expected. Consumer confidence is soaring and Wall Street just set a record bull run.

“We are crushing it,” Trump’s economic advisor Larry Kudlow recently boasted.

The euphoria feels a bit like… just before the crash of 2007-8. Does that worry you? It should.

Hold onto your 401(k)s, because the Wall Street casino that nearly tanked the global economy ten years ago is up and running amok again.

But what about the much-touted safeguards in place today? It’s true that in 2010, the Dodd–Frank Wall Street Reform and Consumer Protection Act was passed to ensure that taxpayers would never again be on the hook to bailout of big financial institutions.…

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Trump Lied About Economy 64 Times In A Single Tweet

Reprinted with permission from Shareblue.

Trump has racked up thousands of lies in his short tenure in the White House — but his most recent statement about the economy essentially managed to squeeze 64 lies into a single tweet.

Trump falsely claimed that U.S. GDP growth (which was 4.2 percent last quarter) is higher than the country’s unemployment rate (currently 3.9 percent) for the first time in more than 100 years.

Like much of what Trump says, this is flatly untrue. But even for Trump, it’s a whopper of epic proportions.

The Washington Post points out that since World War II, “GDP has topped the unemployment rate 64 times.”

Trump’s statement would be a lie even if GDP had topped unemployment just once in the past century.…

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