The Failure of Financialized Higher Ed

Despite federal pandemic aid of $69 billion, over 650,000 jobs were lost in higher education last year, amounting to 1 out of every 8 workers. This was the most extreme decline ever witnessed in the 60-plus years that the Labor Department has tracked specific industry numbers.
In typically cruel neoliberal-managerial fashion, most of those cuts were directed at the lower ends of the pay scale, affecting already vulnerable service and support workers and adjunct professors, rather than tenured or tenure-track faculty and administrators. Some cuts were even deeper.

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The Death of American Cities Has Been Greatly Exaggerated

(Mike Segar/Reuters)
Real-estate markets offer a dose of optimism about the post-pandemic recovery of urban centers.
New York City was recently crowned the most expensive rental market in the U.S., with a median monthly rent for a one-bedroom unit perching at $2,810. The median monthly rent for that size unit in the former No. 1, San Francisco, is $2,800. Although the numbers haven’t quite hit pre-pandemic levels, the curve is bending ever skyward.

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Bad news for renters, yes — but still a promising sign.

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The Death of American Cities Has Been Greatly Exaggerated

(Mike Segar/Reuters)
Real-estate markets offer a dose of optimism about the post-pandemic recovery of urban centers.
New York City was recently crowned the most expensive rental market in the U.S., with a median monthly rent for a one-bedroom unit perching at $2,810. The median monthly rent for that size unit in the former No. 1, San Francisco, is $2,800. Although the numbers haven’t quite hit pre-pandemic levels, the curve is bending ever skyward.

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Bad news for renters, yes — but still a promising sign.

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Secret IRS files reveal how much the ultrawealthy gained by shaping Trump’s ‘big, beautiful tax cut’

ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.

Series: The Secret IRS Files
Inside the Tax Records of the .001%

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.

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Secret IRS files reveal how much the ultrawealthy gained by shaping Trump’s ‘big, beautiful tax cut’

ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.

Series: The Secret IRS Files
Inside the Tax Records of the .001%

In November 2017, with the administration of President Donald Trump rushing to get a massive tax overhaul through Congress, Sen. Ron Johnson stunned his colleagues by announcing he would vote “no.

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The Problem With the ‘BlackRock Buying Houses’ Meme

Over the past week, the American political scene has done the unthinkable: It actually paid attention to the forces shaping our housing markets. Apparently spurred by a viral tweet that caught the eye of hillbilly elegist and would-be senator from Ohio J.D. Vance, political conservatives and liberals alike have been gripped with anger about Blackrock, the world’s biggest asset manager, “buying every single family house they can find,” distorting prices, and locking out families.

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Wall Street isn’t to blame for the chaotic housing market

There has to be somebody to blame.
Housing prices have yanked the dream of homeownership out of the desperate, clutching hands of millions. Countless tenants don’t even have that dream, chafing under the increasing rent burdens they are forced to bear. And to top it all off, the rich just keep getting richer: The stock market is booming, homeowners have accumulated more than $1.5 trillion in equity since the Covid-19 recession began, and personal savings are up for most higher-income households.
Enter, stage right: Wall Street.

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Wall Street isn’t to blame for the chaotic housing market

There has to be somebody to blame.
Housing prices have yanked the dream of homeownership out of the desperate, clutching hands of millions. Countless tenants don’t even have that dream, chafing under the increasing rent burdens they are forced to bear. And to top it all off, the rich just keep getting richer: The stock market is booming, homeowners have accumulated more than $1.5 trillion in equity since the Covid-19 recession began, and personal savings are up for most higher-income households.
Enter, stage right: Wall Street.

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Despite Pandemic Carnage, Predatory Nursing Home Financiers Keep Thriving

The biggest nursing home chain in America quietly changed hands earlier this month, in a little-noticed deal that underscores just about everything that is rotten about America’s elder care system.
Genesis HealthCare and its 350 facilities are now in the hands of a documented serial liar with a history of conning his way into nursing home takeovers, then evicting the patients and flipping the real estate to luxury condo developers.

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Elder Care Should Not Be About Making Profits

The long-term care (LTC) home crisis in Ontario is a case study in the perils of treating health care as a vehicle for profit. A recent report from the Canadian Medical Association (CMA) on the risks of COVID-related deaths in Ontario residences found that the death rate in private homes was nearly twice as high as was to be found in nonprofit ones.
An overwhelming majority of Ontario’s residences with the highest mortality rates are run by chain companies.

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