My Fellow Compassionate Capitalists:
This week’s articles/news was a smorgasbord of contradiction.
The media wanted of us to fear that 7 1/2 million people would fall off the unemployment benefits cliff if benefits were not extended. These people would be homeless and helpless even though there is a record number of jobs that need to be filled.
Job vacancies are such a problem that it is causing wages to go up and the price of basic goods and services to be inflated.
This is an opportunity for people to become employed and by doing so ……wages and the cost of goods and services would plateau.
When no one was paying attention to the unemployment benefits fire, the headlines were about McDonald’s running out of paper bags due to drive through as well as home delivery services. When investigated further it was found the bag shortage problem could be solved by simply training their workers to put food on trays for the dine-in customers.
A novel concept apparently…. as workers claimed they had not been trained to do so!
Of course we cannot go a week – let alone a day – without having to mention the new Delta variant and how it is beginning to slow the economy down in key areas. The two biggest key areas ironically were in the travel and restaurant industries. Don’t these two industries historically peak during the summer and then taper off once summer has ended?
If the bases of the economy is supply and demand and the prices of goods and services fluctuate accordingly……it should not have been a surprise when the home-buying markets “heat“ overwhelmed first time homebuyers causing them to drop out. These people still need a place to live and so the rental market is meeting that demand causing rental price to skyrocket and renters to get into a bidding war.
Of course where there’s money to be made Wall Street is usually at the front of the line leading the pack. Wall Street as well as private hedge funds are supposedly gobbling up all of the single family homes that are on the market in order to turn them into rentals. This is destroying the lives of the mom and pop landlords as well as customer service for renters. The reality is less than 5% of single-family homes have been bought up by corporate landlords. Even if that number increases…… deep pockets and the need for repeat business…. as well as brand recognition for the most part makes for better service as well as better products when it comes to corporate landlords.
My fellow Compassionate Capitalists… PERCEPTION is EVERYTHING!!! We have gotten to a point in America where those “posers“ who have no depth and no back bone must continue to shout the loudest and outright lie in order to get any attention.
Unfortunately they are so good at it that all of their “noise” has caused many people to question as well as fear the future.
Now is the time for those of us who are educated in economic cycles to stand up, speak up, and show up when it comes to free enterprise and playing the economic game of life. We have a tremendous and profitable opportunity to silence the naysayers and bring hope to those who may be having problems with their mortgages. We have the opportunity to invest in America, renegotiate the mortgages, keep people in their homes, and walk away profitably while making a difference in the lives of every person, property, and community that our compassion helps heal.
We have the opportunity to correct the perception and allow others to “NEVER awake from the American Dream”.