I covered this case a couple of months ago in my post The “Electronic Concentration Camp” – Girl Expelled from School for Refusing RFID Chip. It seems we now finally have a ruling. Chalk this one up for the fascists. The answer to such absurdity seems to be homeschooling. Public schools don’t seem to be teaching our kids much anyway and now they want to track them like animals. Enough is enough. From Reuters:
(Reuters) – A public school district in Texas can require students to wear locator chips when they are on school property, a federal judge ruled on Tuesday in a case raising technology-driven privacy concerns among liberal and conservative groups alike.
U.S. District Judge Orlando Garcia said the San Antonio Northside School District had the right to expel sophomore Andrea Hernandez, 15, from a magnet school at Jay High School, because she refused to wear the device, which is required of all students.
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And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
– Letter from Thomas Jefferson to John Taylor, May 28, 1816
Well they aren’t really your “new” slumlord in the sense you have been debt slaves to the financials system for decades. What I really mean is that it is now becoming overt and literal. Literal because financiers are now the main players in the real estate market and are buying all the homes ordinary citizens were kicked out of over the past few years. Yep, we bailed out the financial system so that financiers with access to cheap credit can buy up all of America’s real estate so that they can then rent it back to you later.
Of course, my opinion is that this will ultimately backfire on all the private equity buyers once they find out multiple generations will start living together and a weak economy will not provide the rental income they envision going forward. Particularly once we have another severe slowdown…which always happens eventually. Incredibly, Blackstone has spent $1.5 billion to buy homes in the last 2-3 months alone!
Blackstone has spent more than more than $2.5 billion on 16,000 homes to manage as rentals, deploying capital from the $13.3 billion fund it raised last year, said Jonathan Gray, global head of real estate for the world’s largest private equity firm. That’s up from $1 billion of homes owned in October, when Blackstone Chairman Stephen Schwarzman said the company was spending $100 million a week on houses.
“The market is moving much faster than anybody thought possible,” Gray said during an interview in Blackstone’s New York headquarters. “Housing is much stronger than people anticipated.”
Of course the market is improving. Not because citizens are buying, but because financiers with access to cheap credit are in a bidding war to become America’s slumlords.
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