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> How did we all manage to build an economy such that we're all paying each other just-in-time to avoid catastrophe? Stagnate wages. And instead of raising wag
by pgsbathhouse2 6y ago
> How did we all manage to build an economy such that we're all paying each other just-in-time to avoid catastrophe?
Stagnate wages. And instead of raising wages, we lowered interest rates to keep the money flowing going.
As we have just discovered, an entire segment of society is being propped up by the borrowing power of the "middle class" in America.
We have been pulling the wrong levers, and as you've said in not so many words, our current economy is a farce. People are being fed the scraps of the economic pie.
We should give the people their money; their due, proper wages. We should stop formulating economic policies on "the rich should get richer no matter what." It might not be too late to return to sound economic policies that benefit the populace and not a select few, and in return we'd have a more robust economy.