Comment on Why is that a problem? Did something bad happen in 1929?
crusa187@lemmy.ml 1 week agoWith such large cash reserves, a financial recession is just a massive discount buying opportunity for the rich.
Meanwhile the working class has to sell off what little they have just to survive.
It’s theft, always has been.
whoisearth@lemmy.ca 6 days ago
Just want to add it’s not just tb working class. Governments have been systematically kneecapped since post-WW2 in favour of pro-business and elitist whims. This is why we slowly are seeing our social safety nets stripped away across the world with nothing in return but diminishing returns.
We sell off public phones, hydro, water, etc. to fund the fact that we are taxing the rich and large corporations less and less. It’s been a spiral for decades and decades at this point and no one cause can be pinpointed because it’s been a series of changes that have brought it on while a small segment of the working class continue to see themselves as embarrassed millionaires and champion on the further stripping of our safety nets.
It’s going to get far worse before it starts to get better. That’s the only thing I can be sure of.