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> many conservatives don't see wealth inequality as a problem Conservatives have never been known for sympathy with the poor. It's basically their schtick: awa
by tgv 3y ago
> many conservatives don't see wealth inequality as a problem
Conservatives have never been known for sympathy with the poor. It's basically their schtick: away with this democratic nonsense. That only gives power to the rabble. Back to the glory days of (fighting) the empire!
What I don't get is your debt/CC anecdote. If you cover old debts by getting new ones, you're enlarging your debt (I don't think there's ever been a negative interest on personal debt in the period/society you refer to). That doesn't end well, until the system, which usually involves the government, as the market doesn't give a damn, manages to change your fortunes.
- TrackerFF 3y agoAgain, it was just an anecdote. If you tag on student debt, health debt, auto debt, etc. - how many people out there are living in perpetual debt - and not the good kind of debt (mortgage)? Say you're a person that's juggling 2-3 jobs, making $30k-$40k/year in total. No job security, of course, and you lose one of those jobs. You're always living on the edge, and one month without salary would mean crisis. Luckily you have a credit card, and can use it to cover all your bills for that month. Next month work picks up again, and you're back to your normal salary. But now you have to pay back the CC debt, which you'll have to do over 6-12 months - because you don't have enough savings to pay it all off at once. Now add 2-3 other sources of debt, and it is easy to see that some people are trapped in debt. Their balance stays the same, or gets paid off very, very slow. Until the next crisis rolls around.