Sunday, August 28, 2011

Word of the day: rentier

So cash is becoming the punter investors' new destination, which my Murphy's Law idea of economics would suggest means cash is the next bubble (though, hell, what do I know, I can't pick stocks for beans).

It does seem like the U.S. middle class is bifurcating between people who can afford and have the moral willingness to become landlords of rental properties, and people who can't or don't.

And the Chron reports rentals are becoming insanely competitive in San Francisco.

And earlier this summer Krugman was reintroducing the term rentier to political discourse.

Used to be a popular word, rentier. Try Googling "Orwell" and "rentier," just for example. Or consider those dainty 18th-century British parsons and minor gentry who had investments in the dreadful Carolinas.

Rentiers. They're some of us. They're not others of us.

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