I finished Andy Ngo's Unmasked: Inside Antifa's Radical Plan to Destroy Democracy today at the gym, and my takeaway comes in the last chapter, where he describes -- after telling the story of his Vietnamese "boat people" parents -- "who they are" in Antifa.
While some are indeed highly educated and in white-collar professions ranging from law to academia to health care, those who are involved in the street violence are disproportionately individuals dealing with housing insecurity, financial instability, and mental health issues like gender dysphoria...
Grievance ideologies resonate with millennials and Gen Z because of an economic reality they experience: crushing student debt, job insecurity, and the inability to ever afford a home.
Gollygeewillikins, and I wonder how student debt and housing unaffordability came about? It couldn't be the Democratic Party shoveling cheap debt at everyone over the last 50 years, could it?
Suppose that we say that we actually are going to solve the problem of student debt. How do we do it? By making college "free?" By forgiving student debt? By regulating college fees and housing payments?
See, the basic problem is that government is always about loot and plunder. College debt started with free stuff for students, and free money (from student debt) for colleges. The net result has been that college debt and college fees have risen to meet the available demand. So the obvious solution is to stop the student debt program.
Only, of course, then the students are going to be mad, because they can't afford to go to college, and the colleges are going to be mad because they need that free student money, and the parents are going to be mad because college will cost them more. Hey, don't worry! No government is ever going to do that. Because no government ever dares to reduce the loot and plunder.
Same with home prices. High home prices came about because of the fixed 30-year loans from the New Deal era Fannie Mae. Government could afford to guarantee those loans, because it's government. Naturally, home buyers borrowed the maximum amount they had in mind, and home prices soared into the stratosphere to the benefit of existing homeowners.
The solution is clearly to end the subsidy for mortgage loans and for low down payments. But any program to do that would result in, at best, 50 years of flat home prices and, at worst, a housing price collapse. That would not be good. And anyway, as right now, the government is often in the position of wanting to gun the economy to fight recession with low interest rates, and that usually results in a boom in housing prices.
So, if you are in education you are not going to stand for a policy that cuts the flow of Benjamins. If you have a home that has gone up by 500 percent in the last 30 years, you are not going to stand for a policy that will lower the value of your house.
If your are a millennial or a Gen Z you blame "the system," and you take to the streets.
If you are a politician then you blame "systemic racism."
If you are a corporate CEO you try to keep one step ahead of the "liberal activist groups" or "lefty racist hate groups" with occasional corporate virtue-signaling.
So the only way the madness ends is the day that the US gubmint can't sell its debt in the financial markets.
Any other ideas? I've seen the proposal that makes colleges liable for student debt. My own idea would be to replace "free" education with direct payments to students that would slowly fade away and to encourage employers to fund their employees' education.
I'd end the mortgage monster by slowly reducing the amount that could be borrowed down to about 50 percent of the home's value, and slowly reducing the maximum period of a home loan from 30 years down to 25, then 20, then 15.
But I doubt if any of these ideas are politically possible, Because the only way government works is by buying votes at the next election, and paying off the supporters with loot and plunder. The last thing government will ever dare to do is cut spending programs. That's why you get hyperinflation in Weimar Germany and today's Venezuela. Government dare not reduce its programs, because voters.