4 ms·

I'm pretty sure it's explained by the description of "Company gets money through directing employee labor, but an uneven portion of it is given back to sharehol

I'm pretty sure it's explained by the description of "Company gets money through directing employee labor, but an uneven portion of it is given back to shareholders instead of employees". aka being employed is a worse deal than being an investor, disproportionately.

geggam 7y ago
I was hoping for more insight than "my employer doesnt pay enough" ... while true its not really a root cause of the situation IMO You can always start your own business or simply work for a different company. No one owes you employment.
- ianleeclark 7y ago
  > You can always start your own business How is starting your own business an even remotely viable option for people who are so desperate that they're taking these predatory loans?
  - geggam 7y ago
    Several things come to mind here. What is stopping them from starting the business ? Govt regulations ? Are you saying big govt is preventing you from starting a business ? Do you think more govt will fix the problem ? Govt regulations dont stop undocumented immigrants from coming here to work. They come from a place where govt regulations dont stop them from starting a business. What is the answer ? More social programs or less ? Or is it the fact the undocumented immigrants arent quitting ?
    - ianleeclark 7y ago
      > What is stopping them from starting the business ? Resources, obviously. If someone is screwed enough to have to reach for pay-day loans, that indicates they don't have enough resources. Likely their other credit lines are maxed out and their social support nets are either completely dissolved or just as illiquid as the prospective borrower is. So they can't invest any starting capital into the investment. The second most important resource constraint they're going to be met with is time. Balancing commuting to work, keeping up the household, and full-time work of at least one job leaves you with an amount of time at the end of the day. Maybe they could invest that time into acquiring more marketable skills, but, hey, your lease is up in two months, and you just got the letter that inevitably tells you your rent is going up. Better start driving uber, trying to grab more hours, or doing whatever you need to to cover that new income gap that you'll be facing. > What is the answer ? There is no answer. You don't get conclusions when you're living in poverty in modern America. You just wake up every day and it's somehow worse than the day before.
      - geggam 7y ago
        You mean they cant go around cleaning houses / cooking for people or some other service job ? Why do undocumented workers come here for the opportunity ?
        ianleeclark 7y ago
        > Why do undocumented workers come here for the opportunity ? Because the United States has a bad habit of bombing their countries, killing their labor leaders, and destabilizing their economies through forced privatization and resource extraction.
        geggam 7y ago
        Now you have started talking about the real issue. IMF , world banking , Federal Reserve. The folks who can p00f money into existence from nothing (QE) then loan it to you so you have to work to pay back something they imagined into existence.

geggam 7y ago

I was hoping for more insight than "my employer doesnt pay enough" ... while true its not really a root cause of the situation IMO You can always start your own business or simply work for a different company. No one owes you employment.

ianleeclark 7y ago
> You can always start your own business How is starting your own business an even remotely viable option for people who are so desperate that they're taking these predatory loans?
- geggam 7y ago
  Several things come to mind here. What is stopping them from starting the business ? Govt regulations ? Are you saying big govt is preventing you from starting a business ? Do you think more govt will fix the problem ? Govt regulations dont stop undocumented immigrants from coming here to work. They come from a place where govt regulations dont stop them from starting a business. What is the answer ? More social programs or less ? Or is it the fact the undocumented immigrants arent quitting ?
  - ianleeclark 7y ago
    > What is stopping them from starting the business ? Resources, obviously. If someone is screwed enough to have to reach for pay-day loans, that indicates they don't have enough resources. Likely their other credit lines are maxed out and their social support nets are either completely dissolved or just as illiquid as the prospective borrower is. So they can't invest any starting capital into the investment. The second most important resource constraint they're going to be met with is time. Balancing commuting to work, keeping up the household, and full-time work of at least one job leaves you with an amount of time at the end of the day. Maybe they could invest that time into acquiring more marketable skills, but, hey, your lease is up in two months, and you just got the letter that inevitably tells you your rent is going up. Better start driving uber, trying to grab more hours, or doing whatever you need to to cover that new income gap that you'll be facing. > What is the answer ? There is no answer. You don't get conclusions when you're living in poverty in modern America. You just wake up every day and it's somehow worse than the day before.
    - geggam 7y ago
      You mean they cant go around cleaning houses / cooking for people or some other service job ? Why do undocumented workers come here for the opportunity ?
      - ianleeclark 7y ago
        > Why do undocumented workers come here for the opportunity ? Because the United States has a bad habit of bombing their countries, killing their labor leaders, and destabilizing their economies through forced privatization and resource extraction.
        geggam 7y ago
        Now you have started talking about the real issue. IMF , world banking , Federal Reserve. The folks who can p00f money into existence from nothing (QE) then loan it to you so you have to work to pay back something they imagined into existence.