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<blockquote data-quote="rickyb" data-source="post: 3840677" data-attributes="member: 56035">“One of the ways in which you can engineer a crisis is to cut off the flow of credit,” he said. “This was done in Eastern, Southeast Asia in 1997 and 1998. Suddenly, liquidity dried up. Major institutions would not lend money. There had been a big flow of foreign capital into Indonesia. They turned off the tap. Foreign capital flowed out. They turned it off in part because once all the firms went bankrupt, they could be bought up and put back to work again. We saw the same thing during the housing crisis here [in the United States]. The foreclosures of the housing left lots of housing out there, which could be picked up very cheaply. <a href="https://corpwatch.org/article/blackstone-group-buys-houses-bulk-profit-mortgage-crisis" target="_blank">Blackstone</a> comes in, buys up all of the housing, and is now the biggest landlord in all of the United States. It has 200,000 properties or something like that. It’s waiting for the market to turn. When the market turns, which it did do briefly, then you can sell off or rent out and make a killing out of it. Blackstone has made a killing off of the foreclosure crisis where everyone lost. It was a massive transfer of wealth.”<a href="https://www.truthdig.com/articles/neoliberalisms-dark-path-to-fascism/" target="_blank">Neoliberalism&#039;s Dark Path to Fascism</a></blockquote>

[QUOTE="rickyb, post: 3840677, member: 56035"] “One of the ways in which you can engineer a crisis is to cut off the flow of credit,” he said. “This was done in Eastern, Southeast Asia in 1997 and 1998. Suddenly, liquidity dried up. Major institutions would not lend money. There had been a big flow of foreign capital into Indonesia. They turned off the tap. Foreign capital flowed out. They turned it off in part because once all the firms went bankrupt, they could be bought up and put back to work again. We saw the same thing during the housing crisis here [in the United States]. The foreclosures of the housing left lots of housing out there, which could be picked up very cheaply. [URL='https://corpwatch.org/article/blackstone-group-buys-houses-bulk-profit-mortgage-crisis']Blackstone[/URL] comes in, buys up all of the housing, and is now the biggest landlord in all of the United States. It has 200,000 properties or something like that. It’s waiting for the market to turn. When the market turns, which it did do briefly, then you can sell off or rent out and make a killing out of it. Blackstone has made a killing off of the foreclosure crisis where everyone lost. It was a massive transfer of wealth.” [URL="https://www.truthdig.com/articles/neoliberalisms-dark-path-to-fascism/"]Neoliberalism's Dark Path to Fascism[/URL] [/QUOTE]

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