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Those evil socialists are hiding their homeless in homes (lemmy.ml)

submitted 1 day ago by [email protected] to c/[email protected]

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[–] [email protected] 4 points 7 hours ago* (last edited 7 hours ago) (1 children)

“Who holds power” is very abstract and is not part of definition of socialism or capitalism.

Power isn’t abstract, and who holds it is definitional to socialism and capitalism, and to feudalism before them.

if workers held all the power, would there be homeless?

Not for the most part, no. In your imagined “capitalist” China, did you just assume that they have a homelessness crisis, without even checking? Because you’re unintentionally making our case for us.

Would there be any poor at all?

You can’t go from one of the poorest, least developed countries in the world to universal wealth overnight. But they have made unprecedented progress.

[–] [email protected] 0 points 48 minutes ago (1 children)

I did not say of a severe crisis, I just highlighted both homelessness and inflated housing prices are a thing. And under the rule of the workers, neither should be true.

[–] [email protected] 2 points 37 minutes ago* (last edited 30 minutes ago)

Homelessness isn’t really a thing, though. As to the recent housing bubble, the Chinese state intentionally popped it and left the capitalists out to dry.

“We will scale up the building and supply of government-subsidized housing and improve the basic systems for commodity housing to meet people’s essential need for a home to live in and their different demands for better housing,” an English-language version of the report said.

Compare that to Obama, who bailed out the private banks at the expense of people with home mortgages, banks that knowingly wrote those bad mortgages. Michael Hudson, 2023: Why the Bank Crisis isn’t Over

The financial sector is the core of Democratic Party support, and the party leadership is loyal to its supporters. As President Obama told the bankers who worried that he might follow through on his campaign promises to write down mortgage debts to realistic market valuations in order to enable exploited junk-mortgage clients to remain in their homes, “I’m the only one between you [the bankers visiting the White House] and the mob with the pitchforks,” that is, his characterization of voters who believed his “hope and change” patter talk.

The Federal Reserve is just the cartel of the US private banks, whereas banking in China is predominantly state owned. The Chinese state both runs these banks and has fiat monetary sovereignty, so it’s not captured by the private finance capitalists like the US state is.