“Our young people can’t afford to buy a home anymore.” “We’re going from an ownership society to a renters’ society. When we do that, we go from being free citizens to mere subjects, entirely at the mercy of the powerful. We’re on track to be subjected to these giant corporations who have no Patriotism, no love for America, and indeed no loyalty to you.” So said an email touting the independent candidacy of the progressive ticket of Kennedy-Shanahan that also said: “America Needs a Champion.” Obviously, they believe that “champion” is their ticket, which may be superior to what is offered by Democrats but is not yet on the ballot in every state. There is no polling indication at this time that Kennedy-Shanahan could beat Biden-Harris (D), much less Trump-Vance (R).
Update at about 3:30 PM ET Biden has dropped out of 2024 election race under mounting pressure. See end of postscript for more.
That said, their email is fascinating on several levels. The email Kennedy-Shanahan provided started with these words: “Our young people can’t afford to buy a home anymore.” After its address, it said the following, noting that obviously the investment firms and Bill Gates don’t own all the shares in the S&P 500, but they have various sized stakes in those firms. Meaning, they have a measure of financial influence as well as insights that others may not possess.
BlackRock, State Street, Vanguard, Bill Gates own 88% of the S&P 500.
They’re now buying our agricultural landscapes and our single-family homes … so our young people can’t afford to buy a home anymore.
These big billionaires and giant corporations have turned our country into a colony.
Thomas Jefferson said that American democracy was rooted in the control of the landscapes by tens of thousands of independent farmers, each with a stake in our democracy.
Now, we’re going away from that.
We’re going from an ownership society to a renters’ society.
When we do that, we go from being free citizens to mere subjects, entirely at the mercy of the powerful.
We’re on track to be subjected to these giant corporations who have no Patriotism, no love for America, and indeed no loyalty to you.
Robert F. Kennedy will reverse these trends. He will stand up for the middle and working class and for a re-industrialization of America, and he will defend your rights and our Constitution.
Citing left-leaning MSNBC, right-leaning Breitbart reported: “On Friday’s broadcast of MSNBC’s “José Díaz-Balart Reports,” Rep. Adam Smith (D-WA), who has called for President Joe Biden to leave the race, argued that if voters in the 2024 Democratic presidential primary elections had seen Biden’s debate performance before they voted, they would not have nominated him.
Smith said, “As far as all those people who voted for him, as I say, go back, play that debate right before any of those 14 million people vote, and do you think they’d vote differently? I do. Circumstances have changed since those elections happened. The Democratic Party has a process. We have delegates. We can nominate our candidate that we want. It doesn’t have to be any one person, and I just implore our party to see this.”
Some 37 Democratic members of Congress have publicly called on Joe Biden to step aside as their party’s nominee. Biden also has defenders, that include Senator Bernie Sanders (VT-self-declared Democratic Socialist who has run for president as a Democrat) and Alexandria Ocasio Cortez (AOC-NY-D).
Van “Jones served as President Barack Obama’s Special Advisor for Green Jobs in 2009,” says left-leaning Wikipedia. Jones is a commentator at left-leaning CNN. Jones attended the Republican National Convention (RNC 2024) and spoke of its energy and enthusiasm. Per right-leaning Fox: “After CNN contributor Scott Jennings spoke with excitement about wrestler Hulk Hogan, UFC head Dana White and former President Trump’s upcoming speeches at the RNC, Jones said, “This spirit that this guy [Jennings] has, you guys think it’s because he’s drunk, he’s not, this whole thing is like this.”
“The last time I was at a convention that felt like this was Obama 2008. There’s something happening,” Jones said.
“Dreams become nightmares and nightmares become dreams. You’re watching a nightmare become a dream for Donald Trump,” Jones said. “He has had a nightmarish summer with, you know, convictions and indictments and all kinds of stuff, almost got shot. It’s becoming a dream for him.”
Jones contrasted that energy and vision with Joe Biden’s dilemma and challenges.
“Biden’s the opposite. The dream that he had for himself as a young man to stand up and to rescue this country and to move it in a positive direction he actually delivered, he actually delivered on that. He did beat all those odds. He has done extraordinary things. He is an extraordinary man,” he said. “But by holding on too long it’s becoming a nightmare. And the donors who have written huge checks for him, I mean the biggest checks are the ones who are stepping back.”
Right-leaning Hot Air’s Ed Morrissey recently wrote: “the number one reason Joe Biden will visit Hawaii this month is …
David Letterman will headline a fundraiser with President Joe Biden in 10 days at the home of Hawaii Gov. Josh Green, a person familiar with the plans told The Associated Press, a sign that his campaign is forging ahead despite continued calls for the president to bow out of the 2024 race.
The fundraiser on July 29 will feature the longtime late-night host, plus Biden and first lady Jill Biden, said the person, who spoke to the AP on condition of anonymity to discuss plans that had not yet been made public. The campaign has at least 10 other fundraising events over the last 10 days of July.
Wait — a celebrity fundraiser? Had we not heard that the donor class has entirely turned its back on Biden? The New York Times said so just two days ago:
Wealthy supporters of President Biden’s campaign have slammed their wallets closed, with support from major donors in July on track to plummet to roughly half of the previous month’s amount if he remains in the race, according to four people briefed on the campaign’s finances. …
The huge decline in fund-raising came after weeks of concern from donors. Mr. Clooney, who had been a strong supporter of Mr. Biden, wrote in a New York Times guest essay that he could no longer support the president after the debate and after seeing him in person at a fund-raiser in Los Angeles a few weeks earlier.
Other Hollywood celebrities followed, among them Rob Reiner, the director and actor.
Put differently, there is what is painted as a division among Democrats and their backers in media, big business, big tech, and in the big donor class. While it might be stage managed, for whatever reason, there are plenty of indications that it is genuine. So, as Republicans coalesce around the Trump-Vance ticket, Democrats are unsure on a practical level who their nominee will be. Officially, it is Biden-Harris. Will that change? Time will tell. But the polling is largely in Trump’s favor, and has been for most of this year. His margins continue to widen after what are supposed to be negative events, as Van Jones observed. There are claims of tensions between Biden and the Obama-Clinton wings of the Democratic party’s leadership, with purported threats of “mutually assured destruction,” which is an apparent political analogy or reference to nuclear war.
Who is in office in 2025 will have great significance for manufactured housing and many other parts of the U.S. economy. Who holds Congress will too.
Republicans are pushing the message that they are embracing retirees, the working and middle class, and people of all backgrounds OVER the interests of “Wall Street,” the 1 percent, and their big corporate-media-tech backers. If so, the moves post-Loper Bright ruling by SCOTUS (the Supreme Court of the United States) is just one of many developments that could signal significant changes ahead for manufactured housing. See more on that topic from the Manufactured Housing Association for Regulatory Reform (MHARR), and among the headlines for the week in review on MHProNews that follow further below.
Left-leaning Newsweek has said that the Trump-Vance ticket is a signal to the end of the neo-conservative era of the Republican party.
Citing several left-leaning sources, Breitbart said “Wall Street is Seething” over deposed President Donald J. Trump’s selection of Senator J.D. Vance (OH-R), veteran, businessman, and author of Hillbilly Elegy, as his vice presidential running mate.
Wall Street will be begging for the return of Lina Khan (Biden’s top trust buster at the Federal Trade Commission) after two months of the Trump/Vance administration,” a Wall Street broker told the Financial Times, referencing Lina Khan who is favored by Vance because of her insistence on breaking up corporate monopolies.
Matt Stoller, a left-leaning antitrust source MHProNews has cited several times previously, is per Breitbart “an anti-monopolist who writes a substack newsletter called BIG, parsed out Vance’s risks within the GOP to shift the party into a populist big tent:
While a venture capitalist, in the mid-2010s, Vance began to rethink his priors, ultimately transitioning into a populist with aggressive stances on economics, immigration, and foreign policy. While there’s a temptation to see this change as purely opportunistic, Vance has taken political risks inconsistent with mere careerism. Indeed, four months ago, Vance told a crowd that “Lina Khan is one of the few people in the Biden administration that is doing a pretty good job.” In the GOP, those are fighting words. [Emphasis added]
What’s most strikingly different about Vance is something simple. Age. He’s young. Both he and Khan are in their 30s, and both grew up seeing the disastrous set of policies of the 2000s and 2010s, not the prosperity of the 1990s. Neither has a sanguine view of big tech, a view which is largely held by those who came of age in the 1990s and still at some level understand Google as a disruptive upstart and Mark Zuckerberg as a kid. To Vance and Khan, Google and Facebook are just the establishment. [Emphasis added]
Other Wall Street types who spoke to the Financial Times said they are effectively panicking over the prospect of an economic nationalist agenda led by Vance in a future Trump administration:
“We are very concerned about JD Vance playing an outsized role in a Trump administration,” said one big bank lobbyist. “Trump populism and Vance populism are not the same.” [Emphasis added]
“He represents a populist mindset, and he is clearly smart and considered the future of the party,” said another financial services lobbyist, who described Vance as an “intellectual powerhouse.” [Emphasis added]
“He represents something in the country that the coastal elites and big business have taken too long to recognise,” the lobbyist added, in an apparent reference to Vance’s ability to channel the anger and disenfranchisement of the working classes. [Emphasis added]
Vance is most at odds with Wall Street brokers and big business groups like the Chamber of Commerce on issues of immigration and trade. Unlike the Republican Party’s old guard, Vance backs a tight labor market with reduced immigration levels where the economy is tilted in favor of American employees over employers. …”
So, for those who missed the Masthead on why the increasingly left-Democratic embrace of Wall Street is ‘freaking out’ over the rise of Trump, consider the points above and consider our reporting vindicated by sources from the political left and right. Again, from that same Breitbart article.
Likewise, on trade, Vance has assailed the job-killing free trade consensus that has reigned in Washington, DC over the last three decades — making multinational corporations richer than ever by allowing them to outsource working and middle class jobs to the lowest-wage countries in the world.
In Semafor, big business allies said “CEOs are shocked” by Vance becoming Trump’s running mate, even as his name had been floated for months as a top contender.
Oren Cass, of the American Compass, told Semafor exactly why Trump chose Vance:
Senator Vance has really been at the forefront of providing a critique of what’s wrong with globalization, what’s wrong with financialization, what’s wrong with just chasing cheap labor and rising stock prices. Just the fact of choosing Vance suggests that Trump doesn’t feel beholden to, or even loyal to Wall Street at this point. [Emphasis added]
The GOP’s wealthiest donors, who have often disapproved of Trump’s America First agenda, lobbied behind the scenes against Vance in the hopes of a more establishment-friendly pick like Sen. Tim Scott (R-SC).
[Left-leaning] Politico reported:
Vance’s opposition from the donor community, however, presented a challenge in the under-the-radar race for the vice presidential slot. Other contenders, like Burgum, Rubio, and South Carolina Sen. Tim Scott, had deep relationships with mainstream donors who were eager to undercut Vance. Republican megadonor Ken Griffin’s team conveyed to Trump that they didn’t want the Ohio senator. Murdoch, the former News Corp. chief executive, was also weighing in with Trump and making it clear he supported other prospects, including Burgum. The Murdoch family-owned New York Post and Wall Street Journal published separate editorials endorsing Burgum for the position. [Emphasis added]
Following Vance’s fiercely populist speech at the Republican National Convention (RNC) this week, in which he declared “We are done catering to Wall Street,” photos circulated of billionaire Rupert Murdoch and Sen. Lindsey Graham (R-SC), a darling of the donor class, sitting with somber faces in one of the arena’s suites.
Other neoconservatives, with deep financial ties to military contractors that rely on hawkish foreign policy to line their pockets, told Politico they are “scared to death” of Vance as vice president because he opposes unlimited spending in Ukraine and foreign interventionism.”
Let’s sum up some possible takeaways before pressing onto the week in review. In no particular order of importance:
- There are obviously still Bush-Cheney type donor class Republicans in the GOP, note the mention of Senator Lindsey Graham (SC-R) or consider the retiring Senator Mitch McConnell (KY-R). Recall that MHProNews spotlighted at those links examples of the woes with respect to Graham and McConnell previously. But with Representatives Liz Cheney (WY-R) and Adam Kinzinger (IL-R) both out along with McConnell’s planned retirement, and others ousted too, the GOP does indeed seem to be taking an increasingly pro-Trump and pro-populist (anti-globalist, pro-America First and “MAGA” or Make America Great Again) stance. The left-leaning New York Times is among the sources that have said as much.
- It may be saying too much to say that Democrats are in disarray, such apparent divisions have time to heal, and the apparent purpose in holding an early debate was precisely to allow that party time to figure out their direction. There are 106 days to November 5, 2024 as of this date. One challenge that Democrats have is the approach of early voting and the submission of absentee ballots. It could be problematic if early voting started if Joe Biden is removed from the top of their ticket.
- The presence of Kennedy and others, per sources such as Real Clear Politics summary of polling, indicates that those third-party candidates tend to hurt Biden and Democrats and thus tend to benefit Trump-Vance.
- While Democrats have postured being the party of the people, many – including voices from the political left – have made it clear that Democrats de facto embraced Wall Street while continuing to posture being the party of the working-class, middle-class, retirees and minorities. They can’t have it both ways, nor can others. From a tactical stance, Democrats biggest calling card may now be the abortion issue, the nearly incessant claims that Trump is a threat to democracy, and of course the favorite slam of the left, namely, that all on the right are somehow racists.
- Trump at a rally in Michigan yesterday and at the GOP conventional last week may have begun to plant the seeds of turning those arguments on their head. Several Blacks, Hispanics and Asian Hung Cao (running for the U.S. Senate in VA as a Republican) spoke up on Trump’s behalf and in favor of the performance of his policies over that of Biden-Harris’ last 3.5 years of escalating prices, out of reach housing for millions, and generally debunking the faux ‘race card’ claims.
- It will be recalled that when Biden ‘won’ in 2020, Sun Communities Gary Shiffman seemed to gleefully celebrate the pipeline of consolidations that were opening as a result.
- MHI’s PAC certainly has made campaign donations to members of both major parties. That said, what has MHI done with their potential? The fact that MHI embraced the Biden-Democratic housing plan instead of pushing robustly for a bipartisan full and properly enforcement of existing federal law is brought into sharp focus in the article linked below and the new Masthead in the headlines recap that follows.
Don’t miss today’s postscript for keen insights into the background issues in the Democratic Party drama.
Right or wrong, like it or not, manufactured housing has become a football to be kicked and passed around as desired by often huge conglomerates, consolidators, and MHI and numbers of their state affiliates appear to be willing fronts for that pattern. While high profile, and arguably notorious, MHI member Frank Rolfe has his own baggage, he nevertheless aptly pointed out that the desire to solve the affordable housing crisis is lacking. Talk of solving affordable housing is posturing, not serious, Rolfe indicated. And Rolfe has named MHI as part of the problem rather than part of the solution.
In some respects, what Rolfe said appears to echo what MHARR leaders and others involved currently or previously at MHI have said.
With that backdrop, the headlines for the week in review may come into sharper focus as to their importance in discerning why manufactured housing is underperforming during a well documented affordable housing crisis.
With no further adieu, here are the headlines for the week that was, from 7.14 to 7.21. 2024.
What’s News on MHLivingNews
What’s New from Washington, D.C. from MHARR
What’s New on the Masthead
Thought-Provoking and Inspirational Selections from Tim Connors and the Words of Wisdom
What’s New on the Daily Business News on MHProNews
Saturday 7.20.2024
Friday 7.19.2024
Thursday 7.18.2024
Wednesday 7.17.2024
Tuesday 7.16.2024
Monday 7.15.2024
Sunday 7.14.2024
Postscript
MHProNews doesn’t claim to be the be all or end all of every subject that we happen to cover. That’s simply not possible, given the sheer volume of information, time and resource constraints. That said, there are reasons why we cover the topics that we do, and it is useful to periodically remind our large and generally growing audience the why’s behind our reports with analysis. Before pushing onto the topic of Democrats and what might be their process for changing their ticket, in no particular order of importance, consider the following background concepts.
A) Manufactured housing is a relatively small industry. This writer, years before launching what became MHProNews, told a client at the time that Warren Buffett’s Berkshire Hathaway could theoretically buy the entire production side of the industry. Within months of that comment, the buyout of Clayton took place. That wasn’t based on inside information, it was based on broadly knowing the industry and Berkshire’s capabilities financially. Nor was that comment made with antitrust laws or other as an idea worth pursuing. It was simply the dollars and cents of just how relatively modest manufactured housing is in size since 2000.
B) When manufactured housing has favorable legislation enacted in 2000 and 2008, and is still performing at lower levels in 2024 than 2000 or 1998, that ought to beg serious questions.
C) Mainstream media, be it left or right leaning, routinely suffers from constraints. That’s not a slam, it is a statement of reality. A reporter for any publication or network that is assigned something related to manufactured housing to look into has limited time to research, interview, write, get reviewed or edited, and get published or produced. The numbers of media outlets is down dramatically. The numbers of reporters in the country is dropping even as the population is rising.
- For instance, left-leaning Poynter said last year on 12.8.2023 — “The news industry has seen 2,681 job cuts so far this year…”
- Left-leaning Pew said on 7.13.2021 — “Newspaper newsroom employment fell 57% between 2008 and 2020, from roughly 71,000 jobs to about 31,000.”
- Just days ago, on 7.12.2024, the left-leaning Washington Post said (bold added): “We know from other data that newspaper publishing is, as an industry, red all over. Newspapers lost 77 percent of their jobs over the past 20 years, the single steepest dive among any of the 532 industries tracked by the Bureau of Labor Statistics.”
D) What that means on a practical level is that however well-intentioned a reporter, journalist, or editor may be there are fewer resources to cover more people and ‘more news.’ It is a formula for missing out on key information, completely setting aside possible bias or agendas that may or may not be held by parent companies, key sponsors or advertising interests, and other factors. Plus, those possible agendas or bias are important factors to consider as well.
These realities give those with more money and connections access to more information that the vast majority of the population will lack. As noted, MHProNews and MHLivingNews can’t fix those realities. But we can strive, from time to time, to peer into a subject and give an expert view that others may not have the time or other needed elements to do the same. Thankfully, for years our sponsors don’t ask us what we are publishing, why, or when as long as they get what they have contracted our platforms to do, which is not a conflict of interest for our editorials and analysis. Still, we advise our readers that we are “Industry News, Tips, and Views Pros Can Use” © where “We Provide, You Decide.” ©
Political topics have been covered by MHProNews from early on. While that may be the exception among manufactured housing publishers and bloggers, it is far more common among other trade media. Politics and some professions’ or consumers’ interests are common topics. When government has such influence over our society, legal and regulatory system, etc. it only stands to reason that some political matters get news coverage that is appropriate. And for over about a decade, our news coverage has often been more accurate on certain topics than often far larger media outlets. By seeking as clear an insight on a given issue as possible, using sources from across the left-right media divide, a picture emerges that others may lack.
That said, the following on what may be ahead for Democrats, courtesy of the Center Square, on the topic of What Happens if Biden Drops Out.