this post was submitted on 16 Dec 2024
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In fact you can think of much of the way the state and bourgeoisie has acted since 2008 has been to ensure that line recovers to where it should have been if no collapse. Yes, Obama foreclosed on people (mostly "new wealth" Black and Latino people), but he "saved" hundreds of millions of (mostly white) portfolios.
The Bourgeoisie knows that line is necessary to deflate class struggle, they know they'll struggle with military recruitment if soldiers can't expect to own a home at the end of their service.