4 ms·
I think the greatest damage was done in the state of mind of regular workers. Nobody wants to work for cash that depreciates that fast. While passive asset hold
by vladimirralev 5y ago
I think the greatest damage was done in the state of mind of regular workers. Nobody wants to work for cash that depreciates that fast. While passive asset holders are seeing gains exceeding normal wages for no work at all.
Watching bankers and policymakers ignore this, everybody is gambling to try to get into the unproductive game of sitting and waiting central banks to inflate their asset prices and retire as early as possible.
Inevitably, you end up with no workforce and learned helplessness, waiting for the government to step in and guarantee jobs/UBI in exchange for everything else you got.
- meh99 5y agoSomehow all of what we got just magically creates itself if the government is paying people? Houses will build themselves! Food will magically fill your fridge! Can we get over the old wives tales? Scientifically people will work to support biological survival. What they don’t want is a job for another human who has nothing more than artificial political advantage keeping them from real work. They don’t want a job that elevates Bezos and Gates to ungodly levels of wealth, while their friends and family struggle to pay rent and buy insulin. Our current economic reality has nothing to do with willingness to work. It’s an emotional Ponzi scheme, properly groomed for TV and emotional manipulation: “Chase the dream.” People will work to survive. They won’t work to help aristocrats who don’t work thrive. Stop coddling the minority and the majority will snap to.