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Tuesday, December 9. 2014

Subsidizing middle class markers

Via Driscoll's Elizabeth Warren Goes Full Orwell:



 “The government decides to try to increase the middle class by subsidizing things that middle class people have: If middle-class people go to college and own homes, then surely if more people go to college and own homes, we’ll have more middle-class people. But homeownership and college aren’t causes of middle-class status, they’re markers for possessing the kinds of traits — self-discipline, the ability to defer gratification, etc. — that let you enter, and stay, in the middle class. Subsidizing the markers doesn’t produce the traits; if anything, it undermines them.”


Posted by The News Junkie in Our Essays, The Culture, "Culture," Pop Culture and Recreation at 13:31 | Comments (3) | Trackbacks (0)

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"Hispanic and African-American families were “targeted” during the mortgage crisis".

Indeed! That's what the Dodd-Frank legislation was all about. They created a mandate for fannie mae and freddie mac to make loans to people who couldn't pay those loans. They extorted banks to make those loans threatening to put them out of business with law suits if they would not make subprime loans to people who couldn't pay those loans. This was all sold as a way to put more minorities and low income people into homes but any adult with an IQ in excess of 99 could have told them how this would all end.
#1 GoneWithTheWind on 2014-12-09 17:05 (Reply)
That quoted text is from Glenn Reynolds.

philo of Alexandria edited the above and dubbed it Reynolds Law:

Subsidizing the markers of status doesn’t produce the character traits that result in that status; it undermines them.
#2 Mike (Link) on 2014-12-09 22:12 (Reply)
Gotta hand it to her. Clever political rhetoric. Heads the dems win, tails the banks lose.

Just like warming, cooling, floods and droughts are all caused by global warming. Dems win no matter the outcome.
#3 feeblemind on 2014-12-10 22:33 (Reply)

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