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From my pov, seems like the top 1% has wealth in stock, company valuation, which is only done by the middle class and lower class, buying stock. So everything t
by _rebocador_ 5y ago
From my pov, seems like the top 1% has wealth in stock, company valuation, which is only done by the middle class and lower class, buying stock. So everything they have is handed to them by the ones who buy the stock.
Quit doing it.
Why do people buy so much stock, is that because they want to invest in companies? sure there are cases of that, but most importantly they don't want to see their money devalue with the inflation caused by gov policies.
- _rebocador_ 5y agoby the way this fits well with this. https://cointelegraph.com/magazine/2020/09/24/wtf-happened-in-1971 https://cointelegraph.com/magazine/2020/09/24/wtf-happened-i...
- jaybrendansmith 5y agoCorrelation != Causation. There are many reasons for this that have very little to do with the Gold Standard. I would suggest that technology itself has caused much if not most of this, as has the destruction of Unions, deregulation, and yes government corruption. But I've yet to hear a plausible explanation for how the Gold Standard somehow maintained wages in line with GDP. The only somewhat plausible reason I see here is that a free currency encouraged a move to assets, which protected the rich against inflation somewhat better than the rest.
- _rebocador_ 5y agomy first comment has a plausible explanation.