4 ms·
It’s just the same as what happened with the banks after 2008. The majority of well earning people from the repackaged mortgage boom never got back to their pre
by gmerc 3y ago
It’s just the same as what happened with the banks after 2008. The majority of well earning people from the repackaged mortgage boom never got back to their previous earnings but a smaller number of people at the right place and the right time started making 5x.
This time it’s the low interest boom and software engineering.
Capitalism always finds a way to concentrate wealth.
- harryVic 3y agoLow interest? Interest rates are at 5.5%
- lnxg33k1 3y agoGuess he was talking about last year when you had to pay the bank to have money on it
- BuckYeah 3y ago5.5% is still historically reasonable. Look at what rates were in the 70s and 80s. The issue is so many people got used to the ridiculously low rates over the last 10 or so years.
- xyzzy123 3y agoThe issue is asset prices are higher now.
- _Parfait_ 3y ago70s and 80s? You talking about the drastic fed action to break stagflation? How are you using that as a baseline?
- ffgjgf1 3y ago> 5.5% is still historically reasonable That doesn’t mean much on it’s, you can’t compare interest rates between different periods without taking into account inflation. > were in the 70s and 80s Economically that wasn’t a good period though.