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I became a right-winger as soon as learned Economics 101. The way to grow wealth is to PRODUCE more than you CONSUME. Then you LOAN your SAVINGS to people who CHOOSE to go into DEBT and their money flows up to you. As soon as you realize this, you understand why income inequality exists.
For example, 61% of millionaires drives Honda, Toyotas and Fords. Jazz Bezos drives a Honda Accord and Bill Gates drives a Ford Focus. But as soon as you drive into a poor area you see Cadillacs and Lexuses.
I became a right-winger as soon as learned Economics 101. The way to grow wealth is to PRODUCE more than you CONSUME. Then you LOAN your SAVINGS to people who CHOOSE to go into DEBT and their money flows up to you. As soon as you realize this, you understand why income inequality exists.
For example, 61% of millionaires drives Honda, Toyotas and Fords. Jazz Bezos drives a Honda Accord and Bill Gates drives a Ford Focus. But as soon as you drive into a poor area you see Cadillacs and Lexuses.
Lol...what? The inane leap you made to connect econ w/ party affiliation is so absurd, I'm doubting you've even taken Econ 101, let alone learned anything from it....
It's really simple. The rich have paid off politicians who write laws and do their bidding for them then they go around with Fox News and other right wing outlets it's the middle and poor people who are the problem...Leave the rich alone, they actually have it too hard in this country.
Over 90% of millionaires have never inherited money.
citation needed
edit : actually don't bother. i know that data doesn't exist. inheritance isn't really the big flaw in your OP anyway, it's this archaic idea you have that saving facilitates lending.
if you had been paying attention during the 2004 - 2007 period, you would've seen that loan volume has nothing whatsoever to do with the amount of 'savings' available to finance it. If your hypothesis was true, credit-driven bubbles would be almost-impossible, because there would only be a fixed amount of savings available to lend.
the reality is far more complex and I'm not really sure its worth the time to type.
I became a right-winger as soon as learned Economics 101. The way to grow wealth is to PRODUCE more than you CONSUME. Then you LOAN your SAVINGS to people who CHOOSE to go into DEBT and their money flows up to you. As soon as you realize this, you understand why income inequality exists.
For example, 61% of millionaires drives Honda, Toyotas and Fords. Jazz Bezos drives a Honda Accord and Bill Gates drives a Ford Focus. But as soon as you drive into a poor area you see Cadillacs and Lexuses.
Not true. If they are, then they are dealing in illegal activities. But most of the adults in poor neighborhoods either take public transportation or is driving late model cars with the check engine light on. And the other poster is right, economics has nothing to do with party affiliation.
I became a right-winger as soon as learned Economics 101. The way to grow wealth is to PRODUCE more than you CONSUME. Then you LOAN your SAVINGS to people who CHOOSE to go into DEBT and their money flows up to you. As soon as you realize this, you understand why income inequality exists.
For example, 61% of millionaires drives Honda, Toyotas and Fords. Jazz Bezos drives a Honda Accord and Bill Gates drives a Ford Focus. But as soon as you drive into a poor area you see Cadillacs and Lexuses.
OK, so you should be fine with China loaning money to us, as we consume way more as a country than we produce. So we will be the ghetto dwellers with lexus while the Chinese will be our debtors and landlords....Great! MAGA!
OK, so you should be fine with China loaning money to us, as we consume way more as a country than we produce. So we will be the ghetto dwellers with lexus while the Chinese will be our debtors and landlords....Great! MAGA!
You're exactly right about how wealth is flowing from the U.S. to China. The average American doesn't understand the situation because he thinks we're getting stuff for "free" when we send them our paper dollars in exchange for their manufactured goods.
Seems like a cool system, huh? We print money and they give us stuff. Except that they then use those dollars to compound into more dollars and buy U.S. houses, farm land, companies, etc. The average American ends up with less real wealth when he consumes more than he produces.
Only applies to ~20% of all current millionaires. The remainder are 1st generation, self-made millionaires.
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