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> those with assets got rich and those that work get poorer I think this is the take-away of the modern world economy. If you can somehow get enough money to
by biztos 4y ago
> those with assets got rich and those that work get poorer
I think this is the take-away of the modern world economy.
If you can somehow get enough money to join the asset-holding class you have a chance, otherwise you have no chance. And even if you can, you're fighting a serious uphill battle against the people who got there earlier and got to that sweet free number-go-up zone while you were still toiling.
Right now a friend of mine is trying to buy a modest house in the Bay Area (not SF) -- and he's worried that the $1.5M he can afford is not going to be enough (for things listed at $1.3M) because people with generational wealth, or people who won the tech lottery, are going to come in with $1.6M cash offers.
It's not that insane yet in most of the world but I see no reason to believe this is not the direction.
So, if you don't have a path from work-work into assets, what are you supposed to do?
- imtringued 4y ago>I think this is the take-away of the modern world economy. That is how it worked for the last two thousand years.
- rhexs 4y agoMove away from one of the single most expensive housing markets in the world? That’s a terrible example. Remote work is a thing if you for some reason have to work for Bay companies.