Re:Thousands of New Millionaires Are About to Eat San Franci...
by rchaud on Thursday March 07, 2019 @02:04PM
(#19331051)
I would think life is pretty good for Tanzania's richest. Just as it is for America's richest.
But my real income growth trajectory has looked like a flat line for decades now, while the cost of housing and education (the biggest wealth-builders in the West) have continued to increase.
After 2008, banks borrowed from the Fed at near-zero rates for years, while I get to borrow at "market rates". Corporate profits are higher than ever thanks to the Trump tax cuts. But when the impact on the national debt is felt, it will be I who'll be told to tighten my belts.
But my real income growth trajectory has looked like a flat line for decades now, while the cost of housing and education (the biggest wealth-builders in the West) have continued to increase.
After 2008, banks borrowed from the Fed at near-zero rates for years, while I get to borrow at "market rates". Corporate profits are higher than ever thanks to the Trump tax cuts. But when the impact on the national debt is felt, it will be I who'll be told to tighten my belts.