This is the very best explanation of why the #wealthy get more wealthy and the #middleclass and #poor continue to fall behind. It isn’t wage/#incomeinequality per se, but what the utility is of making investments with it. pic.twitter.com/oMSzHjd99B
— OW (@OccupyWisdom) May 22, 2018
A consumption based #economy (70%) creates low paying jobs. Consumption is supported by widely available #credit as these jobs do not support #savings.
1 Reliance on credit ➡️ 2 supports consumption based jobs ➡️ 3 pay consumption based wages ➡️ 4 no savings ⤴️ go to 1 pic.twitter.com/emKfFadjjB
— OW (@OccupyWisdom) May 22, 2018
#Millennials haven’t saved 2 years’ salary — they’ve saved 1 week’s worth and have leveraged to the hilt! But #Stock, #Bond & #Property prices can only go up, right? When these asset bubbles explode, What could possibly go wrong? Party Like it's 1929! t.co/A4sw7g5HXI pic.twitter.com/I22RNFYc5Q
— Planet Ponzi (@PlanetPonzi) May 19, 2018
h/t @OccupyWisdom