4 ms·
> 76% of americans live paycheck-to-paycheck. Regardless of if you like it or not, a time will come when massive amounts of rents aren't paid. It can either ful
by candybar 7y ago
> 76% of americans live paycheck-to-paycheck. Regardless of if you like it or not, a time will come when massive amounts of rents aren't paid. It can either fully immiserate the economy (most likely course of action), or it can be paused.
And not all of these 76% of Americans are going to lose their jobs. Many people will, many others will have benefits, some others will be able to tighten their belts to make it work. And we can also just give everyone $$$ to ease the transition..
> Can we please stop pretending that this zombie market we've propped up since 2008 works? If you like markets, then you shouldn't agree with the fact that the government can effectively be held hostage every decade or so due to "too big to fail."
My definition of not working here isn't about some people getting unfairly rich at the expense of others. Literally people won't be able to get basic stuff at all. Entire supply chains will collapse since they are based on credit. You can't buy and sell at scale - these all involve contracts and payments. Credit isn't just about lending money for interest.