this post was submitted on 16 Jul 2024
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at this point an economic crash seems like the only possible future, but I'm not sure if it would be good for your average person or if the top 1% would take advantage of it to get even richer
Most of the world is already in an economic recession in the sense that median purchasing power of is dropping fast.
However economist are great at fudging the numbers to show "gdp growth". It true, absolute gdp is rising but it doesn't mean anything if it's evenly distributed.
yup, just waiting to go past the tipping point where we'll be so poor nobody's going to buy products anymore causing a vicious circle
I think if you reflect a little, you know the answer really. Take a look at what happened during the pandemic
Although the 1% is really the 0.1%. So it's much, much worse.
It's about assets. In an economic crash, the 1% buys up the assets for pennies on the dollar, generally receiving an enormous government bailout in the process.
Housing/real estate is the most obvious example of this over the past fifteen years or so.
Alright I am done for it, gotta quickly think of something to hoard so that I can make some profit afterwards