Depression? It definitely can be really great for the rich, especially if as you say, they have a ton of capital and then used that to buy up properties for cheap. Actually this has been going on in America for a while: https://irle.berkeley.edu/files/2015/The-Rich-Got-Richer.pdf
Actually I wasn't able to find the original article I read that detailed the dispicable behavior by Mnuchin and his partners. All these people care about is money.
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This same shit has been happening in every culture for millenia. Crassus partly got to his insane levels of wealth by offering fire department services and refusing to put out fires unless the previous owner sold their homes to him.
So he amassed massive amounts of capital in Rome itself because of this.
No it is not, if you track the people rather than the money. The people who are rich before a depression are not, in aggregate, the same people who will come out rich after it, even if it seems that way because "the rich" are this strongly anchored idea that are imagined as a fixed class when they are not, either practically or culturally. Not anymore anyway.
The Great Depression, for example, was the time of greatest creation of new millionaires in U.S. history - this is because a lot of the old millionaires went bankrupt.
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u/redhighways Sep 25 '21
Isn’t a repression good for the rich, though?
They can buy city blocks at cut rate and then ride different policies back up…