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Here's my point about the use of the word "socialist":
Socialism refers to an economic system where the state, acting in the name of the workers, owns the productive enterprises. Now, we can and do differ on the proper role of the state in promoting equality and the rights of workers, but absent that, no socialism, even if (as in Sweden) you have a system of generous social welfare benefits paid for by high taxes, especially on the most affluent.
I will grant that there's some confusion about this because those who advocate such systems (which, ironically, also require capitalist market economies to work, as libertarian conservative humorist P.J. O'Rourke so wryly noted) call themselves "social democrats" while others who support them as a way station on the road to socialism call themselves "democratic socialists." But there's still a difference between social welfare and socialism.
You make valid criticisms of Rhynhart's role in inflating the housing bubble that led to the 2008 Great Recession. I also remember reading about "NINJA loans" ("no income, job or assets") and wondering whether I could get some of whatever it was those lenders were smoking. I don't think I could dismiss your argument that the fall in Black homeownership post-2019 is in part (or even largely) due to a bunch of people who never should have gotten mortgages in the first place getting them, but I'm still okay with subsidies to assist those buying a property for the first time and keeping their houses in decent working order. Both will repay society in the long run by promoting ownership and stability and allowing those (not necessarily Black, but quite likely disproportionately so) homeowners a chance to build generational wealth.
Yes, socialism has loose definitions: ''the primary goal of Socialism is the elimination of socioeconomic classes through equal distribution of income. While there are several different forms of Socialism, in a purely socialist system, all decisions regarding the legal production and distribution of goods and services, including output and pricing levels are made by the government"....the first sentence of this is certainly popular today but not mentioned is the ''elimination of socioeconomic classes'' end goal.
Or, ''a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.'' By this definition it's not just owning the means of production.
NINJAs were a huge component of the housing collapse as these and other non-conforming mortgages were sliced up into shady securities, fraudulently rated (Fitch), and fraudently sold by Wall Street (BearStearns)...after all, investors around the world trusted American housing mortgages generally and the A+ ratings provided by outfits like Fitch in particular. All that tech $$ needed to go into safe investments so outfits were Rhynhart worked stepped-in and created and sold fraudulent securities ....Rhynhart made a $$ killing.
Why hasn't the media or anyone questioned her background where she honed her ''financial expertise'' Rhynhart brought to Philly in 2008? Everything reads as if her entire career started in 2008 Nutter Administration. Why isn't her Wall Street career included in her bio at all?
Rhynhart's role in the 2000s Wall Street mortgage fraud is non-existent to Philly voters. What's really galling is the lost black ''generational wealth'' she had a direct hand in causing as she blames systemic racism, redlining, and racist banks for the black Philly home ownership rates decline since 1990.
The 1990-2019 time frame Rhyhart uses in her ''policies'' promo is interesting; what was the rate in 2000, 2005?....she uses 1990-2019. Why? U.S. black homeowner rates increased during the mortgage boom until at least the mid '00s=so did Philly's. The market peaked in June 2006. Wouldn't want to explain an increase of black home owners until about 2005 and the real reason it declined she had a direct hand in creating cuz that doesn't fit the systemic racism, racist banks, redlining, no generational wealth narrative Rhynhart's crusading with in 2023.
Black or otherwise, many existing home owners with low to paid off ($0.00) mortgages saw huge equity losses with say, a then $175K fmv, then valuation double+ due to the free $$ mortgage. These folks didn't partake in the mortgage fraud but their neighborhoods did with current and new buyers escalating prices that subsequently crashed well below prior values and eliminating equity altogether. Then there are those folks who used their existing homes as piggy banks with multiple cash-out refinancings as the false equity surged and went on lavish spending, shopping trips and vacations, new kitchens/bathrooms, cars ....all foreclosed on...REO foreclose sale or short-sale of $45,000 with prior mortgage debt of 400K+. Then there were groups of fraudulent buyers-sellers, lenders and appraisers buying and selling to homes to each other at inflated prices and stealing and splitting the equity. And Philly wasn't even hit that bad compared to other urban cities.
And Rhynhart took part in and made of tons of $$ on all of this yet, it's dismissed and no one cares why her career bio starts in 2008 Philly City Hall? She's hiding her active and destructive Wall Street past. Why? Is this her ''own truth''? lol
Direct $$ payments to home buyers to increase any demographics ownership rates? No thanks; that's been tried. Use the existing government assistance known as an FHA mortgage. Save money for a low down payment mortgage on a home in good shape like many buyers did pre-2001 or so and are using again post-housing crash; however, blacks have the lowest savings rates in the U.S. That's another issue that needs to be discussed.
Other than that, resorting to personal attacks because someone made up a total b.s. response and can't response otherwisewas is truly sad...I don't live in philly or the region...lol...oh, you forgot to mention again that i hate cities and metro areas..lol
Thanks the Life Coach advice and hope for my life. LOL
Cool, thanks. So where in our city do you live again?
Born in Madison, WI to parents attending U of Wisconsin-Madison (red flag #1)
I do not have the patience to toil through all of the ramblings on this thread, but OMG, this is totally awesome. Here comes the dangerous Domb-Rhynhart vote split. I am now all in for Rhynhart.
I still like Jeff Brown, but between Allan Domb's ads and Ernest Owens' columns, I'm beginning to think he should stick to running supermarkets and hiring returning convicts to work in them.
I have a good idea where I'm going to land but am not ready to declare anything yet. I still want to hear the candidates, including Brown, in person at the Pen & Pencil. Domb, Gym and Parker have yet to schedule appearances; the other most-often-mentioned candidates are set to appear.
I do not have the patience to toil through all of the ramblings on this thread, but OMG, this is totally awesome. Here comes the dangerous Domb-Rhynhart vote split. I am now all in for Rhynhart.
Then don't toil through all the ramblings...it's really easy not to...and yet you do..and keep stating that you can't read this, that, blocking or some other stuck in adolescence reaction...lol...thanks for the laughs though.
And thanks for sharing that you've made your decision on the primary. Rhynhart will win, she's hypocritcal b.s.-er and will fit in fine in Philly...so glad ''i don't live in Philly''.
So many are upset that anyone would even bring up Rhynhart's hypocrisy on the banking system's systemic racism, redlining, and generational wealth baloney she's pushing to naive voters who buy into this...and who can't and ultimately don't care about the financial hardship to the country and especially the black community that she had a key role in and made tons of green ($$$) from.
Muinteoir +1 another gullible, yet somehow is a social justice advocate against all things racist, systemically or otherwise that robbed the black community of their wealth, voter for Rhynhart! Glad to have been a help in making your hypocritical decision. Best of luck to your hypocritcal b.s-ing candidate.
I still like Jeff Brown, but between Allan Domb's ads and Ernest Owens' columns, I'm beginning to think he should stick to running supermarkets and hiring returning convicts to work in them.
I have a good idea where I'm going to land but am not ready to declare anything yet. I still want to hear the candidates, including Brown, in person at the Pen & Pencil. Domb, Gym and Parker have yet to schedule appearances; the other most-often-mentioned candidates are set to appear.
Wow, a refreshing normal voter. It's nice to know there are at least a few left out there.
Ernest Owens? Haven't heard this name in a while but I will read his articles despite his slant on most things going in. Seems Jeff Brown was at least off to a good start and you've been pro-Brown for a while now.
Regardless of the outcome of his mayoral aspirations, his supermarkets and hiring returning convicts is a win-win.
Btw, Chicagoans vote for their new mayor today...should be interesting to see the results as Philly heads to its primary next month, although the Vallas team said going into the weekend not to expect a winner Tuesday evening; if true, that's obviously a tight race and it is Chicago.
Don't know if you can at the Pen & Pencil forum and if have the temerity to do so, but as a journalist, ask Rhynhart about her '00s Wall Street career and what Philly black home ownership rates were in 2005-2006, not 1990 and then in about 2013-2014 when the dust settled...if only for her facial expression when that topic comes up before she squirms and tries to b.s. her way out of it...lol...expect to be banned, cancelled, and run out of town though...lol...because she is hiding this entire topic.
Then don't toil through all the ramblings...it's really easy not to...and yet you do..and keep stating that you can't read this, that, blocking or some other stuck in adolescence reaction...lol...thanks for the laughs though.
And thanks for sharing that you've made your decision on the primary. Rhynhart will win, she's hypocritcal b.s.-er and will fit in fine in Philly...so glad ''i don't live in Philly''.
So many are upset that anyone would even bring up Rhynhart's hypocrisy on the banking system's systemic racism, redlining, and generational wealth baloney she's pushing to naive voters who buy into this...and who can't and ultimately don't care about the financial hardship to the country and especially the black community that she had a key role in and made tons of green ($$$) from.
Muinteoir +1 another gullible, yet somehow is a social justice advocate against all things racist, systemically or otherwise that robbed the black community of their wealth, voter for Rhyhart! Glad to have been a help in making your decision. Best of luck to your candidate.
Doth thou hold onto the past with such disdain? Again, MPK21, you have a habit of making things about you that are not about you. Relax. Bitter name-calling does nothing other than debilitate your own happiness.
I was having a hard time deciding between Domb and Rhynhart, but you've thoroughly convinced me to vote for Rhynhart. Her parents attending the University of Wisconsin being a key relevant fact in my decision-making process. Thank you very much.
Wow, a refreshing normal voter. It's nice to know there are at least a few left out there.
Ernest Owens? Haven't heard this name in a while but I will read his articles despite his slant on most things going in. Seems Jeff Brown was at least off to a good start and you've been pro-Brown for a while now.
Regardless of the outcome of his mayoral aspirations, his supermarkets and hiring returning convicts is a win-win.
Btw, Chicagoans vote for their new mayor today...should be interesting to see the results as Philly heads to its primary next month, although the Vallas team said going into the weekend not to expect a winner Tuesday evening; if true, that's obviously a tight race and it is Chicago.
Don't know if you can at the Pen & Pencil forum and if have the temerity to do so, but as a journalist, ask Rhynhart about her '00s Wall Street career and what Philly black home ownership rates were in 2005-2006, not 1990 and then in about 2013-2014 when the dust settled...if only for her facial expression when that topic comes up before she squirms and tries to b.s. her way out of it...lol...expect to be banned, cancelled, and run out of town though...lol...because she is hiding this entire topic.
That would happen only if I discussed the goings-on outside the Club. "Off the Record" means exactly that.
Otherwise, I might get ribbed by some of my colleagues if I ask certain questions but not run out of the club: this is my sixth year on the Board of Governors, where I serve as board secretary (Stu Bykofsky preceded me in that position).
Doth thou hold onto the past with such disdain? Again, MPK21, you have a habit of making things about you that are not about you. Relax. Bitter name-calling does nothing other than debilitate your own happiness.
I was having a hard time deciding between Domb and Rhynhart, but you've thoroughly convinced me to vote for Rhynhart. Her parents attending the University of Wisconsin being a key relevant fact in my decision-making process. Thank you very much.
Again, you're welcome. and yet you conintually, as usual, read through all the ramblings and respond with psych evaluations...lol.
Great you've made your decision: hypocritical voter Munteoir meets hypocritical Rhynhart for Mayor.
Although your current ''decision'' could be an emotional-triggered response (it is 2023 after all and emotional hemophiliacs abound) due to reading something without a trigger-warning (U of Wisc-Madison lol)...head to a safe space for a while just in case.
A ''U of Wisc-Madison'' reference cancels out Rhynhart's destruction of black home ownership rates and generational wealth...lol.
Voter poll/interview: Why did you vote for Rhynhart? Answer: "because someone made a negative comment about the university her parents went to" LOL...aren't you in education/a Philly public school teacher? Oy.
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