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The New Coffee Room

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  3. RFK names the three corps that control the world

RFK names the three corps that control the world

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  • M Offline
    M Offline
    Mik
    wrote on 11 Sept 2023, 21:34 last edited by
    #1

    Interesting piece, actually. There is a huge move on to buy up residential real estate and turn it into rentals.

    https://www.msn.com/en-us/sports/other/rfk-jr-names-the-three-major-corporations-he-thinks-control-the-world-and-how-they-re-screwing-us/ar-AA1gz91w?ocid=msedgntp&cvid=df9ab3baa0074ea8bdb7125689a88fb3&ei=10

    "The intelligent man who is proud of his intelligence is like the condemned man who is proud of his large cell." Simone Weil

    1 Reply Last reply
    • J Offline
      J Offline
      Jolly
      wrote on 12 Sept 2023, 01:53 last edited by
      #2

      If you're crazy and you're right, you ain't crazy.

      “Cry havoc and let slip the DOGE of war!”

      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

      1 Reply Last reply
      • R Offline
        R Offline
        Renauda
        wrote on 12 Sept 2023, 03:57 last edited by
        #3

        Why doesn’t Bobby Jr. just call the triumvirate “The Barge”?

        Jr. gone wild crackers.

        Elbows up!

        1 Reply Last reply
        • H Offline
          H Offline
          Horace
          wrote on 12 Sept 2023, 04:02 last edited by
          #4

          60% of the single family homes seems optimistic. I wonder where he got that number.

          Education is extremely important.

          D 1 Reply Last reply 12 Sept 2023, 11:08
          • 8 Offline
            8 Offline
            89th
            wrote on 12 Sept 2023, 04:05 last edited by 89th 9 Dec 2023, 04:06
            #5
            This post is deleted!
            1 Reply Last reply
            • 8 Offline
              8 Offline
              89th
              wrote on 12 Sept 2023, 04:12 last edited by
              #6

              They’ve done studies you know. 60% of the time it works every time.

              1 Reply Last reply
              • J Online
                J Online
                jon-nyc
                wrote on 12 Sept 2023, 08:10 last edited by
                #7

                IMG_0347.png

                https://www.jchs.harvard.edu/blog/8-facts-about-investor-activity-single-family-rental-market

                Thank you for your attention to this matter.

                1 Reply Last reply
                • J Online
                  J Online
                  jon-nyc
                  wrote on 12 Sept 2023, 08:21 last edited by
                  #8

                  Three giant companies, BlackRock, State Street, and Vanguard … who all own each other …” RFK Jr. explained. “They’re the biggest companies in the world. Rich, and they … own, I think they own 88 percent of the S&P 500 …

                  He’s confusing the assets they have under management with assets of the companies themselves.

                  Most of my securities are held in custody at Vanguard but I own them.

                  Blackrock assets: 117B

                  Blackrock assets under management: 8.5T

                  Similar story with the others.

                  The shreds of truth there are:

                  1. they get to vote the shares of stock they hold within mutual funds

                  2. since they are such huge buyers on behalf of their clients corporate management cares what they think. Ever-expanding scope of ESG is the risk here.

                  Thank you for your attention to this matter.

                  L 1 Reply Last reply 12 Sept 2023, 12:35
                  • H Horace
                    12 Sept 2023, 04:02

                    60% of the single family homes seems optimistic. I wonder where he got that number.

                    D Offline
                    D Offline
                    Doctor Phibes
                    wrote on 12 Sept 2023, 11:08 last edited by
                    #9

                    @Horace said in RFK names the three corps that control the world:

                    60% of the single family homes seems optimistic. I wonder where he got that number.

                    He probably did his own research.

                    Hey, at least he didn't implicate the Rothschild's. It's about time somebody cut those guys a break.

                    I was only joking

                    1 Reply Last reply
                    • J jon-nyc
                      12 Sept 2023, 08:21

                      Three giant companies, BlackRock, State Street, and Vanguard … who all own each other …” RFK Jr. explained. “They’re the biggest companies in the world. Rich, and they … own, I think they own 88 percent of the S&P 500 …

                      He’s confusing the assets they have under management with assets of the companies themselves.

                      Most of my securities are held in custody at Vanguard but I own them.

                      Blackrock assets: 117B

                      Blackrock assets under management: 8.5T

                      Similar story with the others.

                      The shreds of truth there are:

                      1. they get to vote the shares of stock they hold within mutual funds

                      2. since they are such huge buyers on behalf of their clients corporate management cares what they think. Ever-expanding scope of ESG is the risk here.

                      L Offline
                      L Offline
                      LuFins Dad
                      wrote on 12 Sept 2023, 12:35 last edited by
                      #10

                      @jon-nyc said in RFK names the three corps that control the world:

                      Three giant companies, BlackRock, State Street, and Vanguard … who all own each other …” RFK Jr. explained. “They’re the biggest companies in the world. Rich, and they … own, I think they own 88 percent of the S&P 500 …

                      He’s confusing the assets they have under management with assets of the companies themselves.

                      Most of my securities are held in custody at Vanguard but I own them.

                      Blackrock assets: 117B

                      Blackrock assets under management: 8.5T

                      Similar story with the others.

                      The shreds of truth there are:

                      1. they get to vote the shares of stock they hold within mutual funds

                      2. since they are such huge buyers on behalf of their clients corporate management cares what they think. Ever-expanding scope of ESG is the risk here.

                      Very well explained. There’s a whole world of room between Investment Firms trying to raise the value of their portfolios and evil one world corporists trying to eliminate ownership!

                      I do think that steps need to be taken to address the number of private residences owned by these entities, but most of that can and should be handled at a local level.

                      I also believe the answer to woke capitalism as demonstrated by these companies is to provide legitimate competition… You don’t like what Disney is doing? Put together an investment group large enough to get your voice into the boardroom and vote out those that are pushing the garbage…

                      The Brad

                      J 1 Reply Last reply 12 Sept 2023, 13:36
                      • J Offline
                        J Offline
                        Jolly
                        wrote on 12 Sept 2023, 12:42 last edited by
                        #11

                        Aside from the silly handwaving (Barge? Silly boy!), the fact remains that we do have a problem. It may not be exactly what RFK says, but it is a concentration of too many homes and too much wealth under too few people.

                        Been a long time since America was in the Trust-busting business. Maybe it's time we got back in it.

                        “Cry havoc and let slip the DOGE of war!”

                        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                        G R A 3 Replies Last reply 12 Sept 2023, 13:00
                        • J Jolly
                          12 Sept 2023, 12:42

                          Aside from the silly handwaving (Barge? Silly boy!), the fact remains that we do have a problem. It may not be exactly what RFK says, but it is a concentration of too many homes and too much wealth under too few people.

                          Been a long time since America was in the Trust-busting business. Maybe it's time we got back in it.

                          G Offline
                          G Offline
                          George K
                          wrote on 12 Sept 2023, 13:00 last edited by
                          #12

                          @Jolly said in RFK names the three corps that control the world:

                          a concentration of too many homes and too much wealth under too few people

                          Perhaps a bit off-topic. I've seen some tweets by the libertarian-leaning crowd about how various things have become unaffordable, when compared with the average take-home salary.

                          For example, 90 years ago, during the depression, an automobile was about 45% of a year's salary. Today, it's about 85%. A house was 3X average salary. Today, 8X.

                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                          T L 2 Replies Last reply 12 Sept 2023, 13:03
                          • G George K
                            12 Sept 2023, 13:00

                            @Jolly said in RFK names the three corps that control the world:

                            a concentration of too many homes and too much wealth under too few people

                            Perhaps a bit off-topic. I've seen some tweets by the libertarian-leaning crowd about how various things have become unaffordable, when compared with the average take-home salary.

                            For example, 90 years ago, during the depression, an automobile was about 45% of a year's salary. Today, it's about 85%. A house was 3X average salary. Today, 8X.

                            T Offline
                            T Offline
                            taiwan_girl
                            wrote on 12 Sept 2023, 13:03 last edited by
                            #13

                            @George-K Same with college. I was talking to a friend and he said that when he graduated (I think early 90's), his starting salary was just a bit less then his 4 year costs.

                            Now, I would say the college costs are much higher than a years salary.

                            8 1 Reply Last reply 12 Sept 2023, 13:27
                            • G Offline
                              G Offline
                              George K
                              wrote on 12 Sept 2023, 13:12 last edited by
                              #14

                              The tax return for me and the Mrs. in 1977.

                              Screenshot 2023-09-12 at 8.08.51 AM.png

                              Average cost of a house?

                              Screenshot 2023-09-12 at 8.11.10 AM.png

                              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                              1 Reply Last reply
                              • G George K
                                12 Sept 2023, 13:00

                                @Jolly said in RFK names the three corps that control the world:

                                a concentration of too many homes and too much wealth under too few people

                                Perhaps a bit off-topic. I've seen some tweets by the libertarian-leaning crowd about how various things have become unaffordable, when compared with the average take-home salary.

                                For example, 90 years ago, during the depression, an automobile was about 45% of a year's salary. Today, it's about 85%. A house was 3X average salary. Today, 8X.

                                L Offline
                                L Offline
                                LuFins Dad
                                wrote on 12 Sept 2023, 13:20 last edited by
                                #15

                                @George-K said in RFK names the three corps that control the world:

                                @Jolly said in RFK names the three corps that control the world:

                                a concentration of too many homes and too much wealth under too few people

                                Perhaps a bit off-topic. I've seen some tweets by the libertarian-leaning crowd about how various things have become unaffordable, when compared with the average take-home salary.

                                For example, 90 years ago, during the depression, an automobile was about 45% of a year's salary. Today, it's about 85%. A house was 3X average salary. Today, 8X.

                                How much of that is driven by the consumer, though? Especially in the home buying? Our house is about 4X what my income was at that time. Today it’s even less. It doesn’t have everything that we want but it has everything we need. Now our real estate agent tried to drive us up but we chose not to…

                                Same holds true for a car. Median Salary in 2022 was about $60K. There are plenty of new cars available for ~ $28K…

                                No, if you’re spending 8 times your income on a house and 85% of your income on a car, that’s a choice.

                                The Brad

                                1 Reply Last reply
                                • 8 Offline
                                  8 Offline
                                  89th
                                  wrote on 12 Sept 2023, 13:24 last edited by
                                  #16

                                  image.png

                                  One could argue the current housing spike of prices "must" go way back down towards the moving average.

                                  Also, if house prices kept at pace with inflation, the average home today would cost $178k, not 408k. Full article here: https://anytimeestimate.com/research/housing-prices-vs-inflation/#housing-vs-inflation

                                  L 1 Reply Last reply 12 Sept 2023, 14:02
                                  • L Offline
                                    L Offline
                                    LuFins Dad
                                    wrote on 12 Sept 2023, 13:25 last edited by
                                    #17

                                    And it’s not taking into account the second income in most families.

                                    The Brad

                                    1 Reply Last reply
                                    • T taiwan_girl
                                      12 Sept 2023, 13:03

                                      @George-K Same with college. I was talking to a friend and he said that when he graduated (I think early 90's), his starting salary was just a bit less then his 4 year costs.

                                      Now, I would say the college costs are much higher than a years salary.

                                      8 Offline
                                      8 Offline
                                      89th
                                      wrote on 12 Sept 2023, 13:27 last edited by
                                      #18

                                      @taiwan_girl said in RFK names the three corps that control the world:

                                      @George-K Same with college. I was talking to a friend and he said that when he graduated (I think early 90's), his starting salary was just a bit less then his 4 year costs.

                                      Now, I would say the college costs are much higher than a years salary.

                                      Big time. If the cost of college kept up with inflation it would be flat with the black line:

                                      44478b66-9e20-486d-9d50-622c1c472d76-image.png

                                      L 1 Reply Last reply 12 Sept 2023, 13:47
                                      • J Jolly
                                        12 Sept 2023, 12:42

                                        Aside from the silly handwaving (Barge? Silly boy!), the fact remains that we do have a problem. It may not be exactly what RFK says, but it is a concentration of too many homes and too much wealth under too few people.

                                        Been a long time since America was in the Trust-busting business. Maybe it's time we got back in it.

                                        R Offline
                                        R Offline
                                        Renauda
                                        wrote on 12 Sept 2023, 13:29 last edited by Renauda 9 Dec 2023, 16:30
                                        #19

                                        @Jolly said in RFK names the three corps that control the world:

                                        Aside from the silly handwaving (Barge? Silly boy!), the fact remains that we do have a problem. It may not be exactly what RFK says, but it is a concentration of too many homes and too much wealth under too few people.

                                        I’ll silly boy you. Call it what you want then. Perhaps “The Scow”? Dosen’t have the same ring though.

                                        Elbows up!

                                        1 Reply Last reply
                                        • L LuFins Dad
                                          12 Sept 2023, 12:35

                                          @jon-nyc said in RFK names the three corps that control the world:

                                          Three giant companies, BlackRock, State Street, and Vanguard … who all own each other …” RFK Jr. explained. “They’re the biggest companies in the world. Rich, and they … own, I think they own 88 percent of the S&P 500 …

                                          He’s confusing the assets they have under management with assets of the companies themselves.

                                          Most of my securities are held in custody at Vanguard but I own them.

                                          Blackrock assets: 117B

                                          Blackrock assets under management: 8.5T

                                          Similar story with the others.

                                          The shreds of truth there are:

                                          1. they get to vote the shares of stock they hold within mutual funds

                                          2. since they are such huge buyers on behalf of their clients corporate management cares what they think. Ever-expanding scope of ESG is the risk here.

                                          Very well explained. There’s a whole world of room between Investment Firms trying to raise the value of their portfolios and evil one world corporists trying to eliminate ownership!

                                          I do think that steps need to be taken to address the number of private residences owned by these entities, but most of that can and should be handled at a local level.

                                          I also believe the answer to woke capitalism as demonstrated by these companies is to provide legitimate competition… You don’t like what Disney is doing? Put together an investment group large enough to get your voice into the boardroom and vote out those that are pushing the garbage…

                                          J Online
                                          J Online
                                          jon-nyc
                                          wrote on 12 Sept 2023, 13:36 last edited by jon-nyc 9 Dec 2023, 13:52
                                          #20

                                          @LuFins-Dad said in RFK names the three corps that control the world:

                                          I do think that steps need to be taken to address the number of private residences owned by these entities, but most of that can and should be handled at a local level.

                                          I totally agree. They tend to concentrate on sunbelt cities (growing and with landlord-friendly laws) in the 300k and under portion of the housing market. In many such places they are truly the dominant force.

                                          Thank you for your attention to this matter.

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