3 ms·
Only if you consider the poorest living in a mortgaged house that costs $800,000 with $720,000 left to pay while making $120,000 a year. This is not valid for
by henvic 6y ago
Only if you consider the poorest living in a mortgaged house that costs $800,000 with $720,000 left to pay while making $120,000 a year.
This is not valid for the poor people making $15,000 a year with $600 in their bank account. These people are losing a lot of wealth.
Debt is not that easily accessed by everyone! And when it comes at the cost of inflation as it often (or even almost always!) does, it's even worse.
- iso1210 6y agoThey aren't losing a lot of wealth, they don't have it.
- henvic 6y agoWhat you say doesn't make any sense. For someone poor with $50 of savings, if they lose $5 it might not seem much to you, but it might be to them. It actually is a lot of money if you're considering someone really poor, especially in poorer countries. I assume you're probably in the US and think that making money is as easy as it is for most people there everywhere. No, it is not easy for everyone, and not everyone lives in the US.