The article admits:
"In America, homeownership is not just owning a dwelling and the land it resides on; it is a piggy bank, where the bottom 50 percent of the country (by wealth distribution) stores most of its wealth."
Of course home ownership is bad. It helps people at the bottom and the left would prefer everyone be poor (except themselves of course).
Remember GW Bush and Karl Rove and the Ownership Society?
ReplyDeleteThe old Progressives actually believed in Progress, in a shiny happy prosperous future, even if they had some serious flaws such as their willingness to bulldoze the plans of ordinary plans of ordinary people in favor of their own Big Plans For Society, and their huge underestimates of how poisonous socialism and government regulation are to an economy. But in the late 1960s and early 1970s those old Progressives were replaced by a new Left with a new party line of "Learn to live with less, you greedy hate-filled bastards!"
ReplyDeleteLooking back, I suspect that the new Left saw that the USSR had lost the space race and that more generally they realized, deep down inside, that their dream of Super Soviet Economics leaving the "horse-and-buggy" free market in the dust was not going to happen. So the prosperity and well-being that even a semi-free West was better at creating had to be trashed as evil and wrong, and the poverty and oppression that Super Soviet Economics was superior at producing had to be praised as good and virtuous.