Interested in hearing how you explain this.
I dont disagree with you but I would like to know what you see as the root cause.
aka being employed is a worse deal than being an investor, disproportionately.
You can always start your own business or simply work for a different company. No one owes you employment.
How is starting your own business an even remotely viable option for people who are so desperate that they're taking these predatory loans?
Resources, obviously. If someone is screwed enough to have to reach for pay-day loans, that indicates they don't have enough resources. Likely their other credit lines are maxed out and their social support nets are either completely dissolved or just as illiquid as the prospective borrower is. So they can't invest any starting capital into the investment.
The second most important resource constraint they're going to be met with is time. Balancing commuting to work, keeping up the household, and full-time work of at least one job leaves you with an amount of time at the end of the day. Maybe they could invest that time into acquiring more marketable skills, but, hey, your lease is up in two months, and you just got the letter that inevitably tells you your rent is going up. Better start driving uber, trying to grab more hours, or doing whatever you need to to cover that new income gap that you'll be facing.
> What is the answer ?
There is no answer. You don't get conclusions when you're living in poverty in modern America. You just wake up every day and it's somehow worse than the day before.
Why do undocumented workers come here for the opportunity ?
Because the United States has a bad habit of bombing their countries, killing their labor leaders, and destabilizing their economies through forced privatization and resource extraction.
The folks who can p00f money into existence from nothing (QE) then loan it to you so you have to work to pay back something they imagined into existence.
Most people do accept responsibility.
This is the problem:
>In the decade through 2018, average household incomes for those with a high school diploma have risen about 15%, to roughly $46,000, according to the latest U.S. Census Bureau data available.
>Not only is that less than the 20% increase registered on a broad basket of goods over the span, but key costs that play an outsize role in middle-class budgets have increased much more: home prices are up 26%, medical care 33%, and college costs a whopping 45%.
>To keep up, Americans borrowed. A lot. Unsecured personal loans, as well as mortgage, auto, credit-card and student debt have all steadily climbed over the span.
Companies don't give (adequate) raises. They return money to investors. So, every year, the middle class is losing ground.
These people are desperate. You can mock them all you want, but they're out there building your home, making sure your utilities stay on, deliver your produce to your favorite store. They're trying, but the economy is taking advantage of them.