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Global firms, led by Blackstone Group, the world’s largest private equity manager with more than half-a-trillion dollars in total assets (and the documentary’s bête noire), are able to buy up entire neighborhoods and essentially do what they like with them. Blackstone today enjoys “record firepower” in the real estate market according to the Financial Times, with control of over $150 billion in property globally. Such unmatched muscle means that, as a result of the decisions of a few money managers, entire communities can be displaced without anyone being held the least bit accountable, and entire subcultures can dissolve into economic externalities. As Sassen has written for Truthout, “These expulsions don’t simply happen; they are made.”
https://truthout.org/articles/documentary-exposes-wall-street-power-behind-global-gentrification-boom/ _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: https://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
