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Buying properties is heavily state supported in some places (think .NL and .PT - though .PT this has been dismantled). When there is more demand than supply (which, BTW, has happened in both places above), the state subsidy has the pernicious effect of raising property prices even more. It is actually the worse kind of state intervention that I can think off: Apparently supporting working families, effectively transferring capital to banks and property developers (highly regressive), inflating market prices into bubble territory. The working families get no benefit from this has all the subsidy is destroyed through higher prices...
Friends come and go. Enemies accumulate.
It seems as if part of the premise is that if the political terrain in a country with employment insurance was the same as the neoliberal "do what we say or starve" countries, then any additional income will be scooped up by rentier and all that the employment insurance will do is to redistribute income among the relatively powerles middle income classes and working poor.
However, getting a Job Guarantee put into place seems like it first requires changing that political terrain, and having a Job Guarantee in place would seem to undermine much of the neoliberal disciplinary stick.
So I'm not clear on how the argument by which the income is soaked up by rentier is consistent with the premise that a Job Guarantee has been successfully put into place.
I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
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