Mariner was asked what he meant by ‘gunslinger’ capitalism.
RENO – In late 2016, an out-of-state casino owner, Jeffrey Jacobs, started buying up property surrounding Nystrom House, a large old hotel for low income families, vacant land, derelict houses, historic mansions, a car repair shop, a dry cleaner, a wedding chapel, a neighborhood bar, a gas station. And motels, lots of motels. Within months, Jacobs owned Nystrom House,
Jacobs began demolishing the motels. First the Carriage Inn and Donner Inn Motel. Then the Stardust Lodge. Next, the Keno, El Ray and Star of Reno fell. The motels, decades past their prime, had served as housing of last resort for hundreds of people with extremely low incomes and few other options. Jacobs was clearing the way for what he said will be a $1.8 billion entertainment district anchored by his two casinos.
The exact same thing is happening in Miami, Florida.
Given a national crisis in low income housing, that’s gunslinger capitalism.
Elon Musk buying Twitter is gunslinger capitalism.
Venture capitalists buying small newspaper publishers, stripping away the ability to cover news and turning them into low-staffed rags for profit is gunslinger capitalism. Unfortunately, venture capitalists are invading medical centers and hospitals with the same intention by limiting or outsourcing services and requiring patient quotas. That’s gunslinger capitalism.
Lumber companies trying to cut down the most ancient trees on Earth within a nature preserve is gunslinger capitalism.
Buying small banks and foreclosing on every single mortgage is gunslinger capitalism.
A very painful fact is that the Federal Government doesn’t even ask them to pay taxes.