Posted: May 12, 2019 6:09 pm
by Macdoc
Almost to exclusion the only winners and losers in speculation are those who speculate


some conflation of wealth, money and predation but reasonable post

Predation can occur in any unregulated exchange of value ...ie landlord tenant, monopoly or collusion ( insulin in the US just now )

Wealth is independent of money.....far too much economic activity is concentrated on speculation ( 99% or so of daily monetary trades ) as opposed to wealth building. Employing labour, materials and capital to build new housing is wealth building.
Buying a bunch and flipping them without improvement is predation/speculation.
Buying a run down house and fixing it up to make a profit is wealth building.

Just ask any tenant in a major city how speculation has hurt them. Governments can only rein in speculation by taxing the shite out of short term gains and/or providing a socially beneficial alternative for shelter ( ie cost effective housing based on income ) which gives people an alternative.
In some cases outright regulation is needed to prevent abuses like AirBnB sucking out affordable rental units.
The latter is tricky for govs to handle as there are social consequences for neighbors and other owners in the same building.
Taxation and stiff regulation ( insurance requirements ) might squeeze some of the abuse out.

Bitcoin is entirely speculative . no wealth building at all...in some cases it is wealth destroying if fossil fuel is used for mining the coins.