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The wealth of the 1% just hit a record $44 trillion
(www.cnbc.com)
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this post was submitted on 30 Mar 2024
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tHe EcOnOmY iS dOiNg GrEaT
No, the stock market is doing great at making the rich richer. The economy is fucking broken. On purpose. The crushing of the working class to enrich the 1% is capitalism working exactly as intended.
I’m sure the wealth will trickle down any moment now. Been waiting about 40 years now. Must be happening soon.
It only trickles down in blood, dear. And only that you shed. Kill your masters, kill for your masters, or die for them. Those are your options.
Some much computational energy and human talent is wasted on finance coming up with imaginary and derivative products that do nothing but make rich people richer.
It’s nothing but speculative wealth that doesn’t actually exist, but the federal government prints bonds to underwrite this garbage. Then morons talk about how the feds print money that cause inflation, but are too stupid to realize why.
And no one will listen to you because America has a stake in the stupidity of its people.
Thank you! Economy is just who does what work and how we hand out the fruits. Money is just a bullshit abstraction they introduced.
We need to reset ownership. If it doesn't work for you, burn it down. Its what they do.
Most people don't have any money to invest at all, much less enough money to safely invest to live on comfortably. Most people live paycheck to paycheck just hoping nothing major comes up like a sudden illness or broken car.
What? Open for whom? Competition between who?
Not really. The stock market doing great is the result of low interest rates, massive tax cuts for the wealthy and corporation, and the recent covid money printing. All of that money, that the wealthy hoard, needed somewhere to go and it went into assets like stocks and housing.
The solution is to tax the corporations and wealthy. Take that money and put it back into society. For example, by fixing our infrastructure, funding our schools, and medicare for everyone. The beauty of being early in this hyperinflation cycle is that we can make actual policy decisions to reverse course before it is too late.
You are right, but you are going against the narrative of to this post, hence all the downvotes from the angry mob.