78. On Useful Idiots and Snake Oil

This week we bring y’all some updates on ongoing topics of TMK interest: things we’ve done whole episodes on in the past but keep rearing the ugly heads in new and horrible ways. First we start by talking about the weird liberal trick of “limitarianism” and the latest bird-brained simping for billionaires. Then we get into a profile of the populist king of spacs, the memelord of investing, Chamath Palihipitiya—and the ongoing financial absurdism that distracts us from actual analysis of more pressing issues. We wrap up by talking about the latest bizarre debate over if BlackRock is bad or blameless for buying homes in bulk. Some stuff we reference: • Is it time to limit personal wealth? https://www.washingtonpost.com/opinions/2021/06/12/is-it-time-limit-personal-wealth/ • Think twice before changing the tax rules to soak billionaires https://www.washingtonpost.com/opinions/2021/06/09/think-twice-before-changing-tax-rules-soak-billionaires/ • The Pied Piper of SPACS https://www.newyorker.com/magazine/2021/06/07/the-pied-piper-of-spacs • Wall Street isn’t to blame for the chaotic housing market https://www.vox.com/22524829/wall-street-housing-market-blackrock-bubble • Automated landlord: Digital technologies and post-crisis financial accumulation: https://journals.sagepub.com/doi/full/10.1177/0308518X19846514 Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills Grab your TMK gear: bonfire.com/store/this-machine-kills-podcast/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)