Re:'Dogfight' looms as landlords start suing restaurants ove...
by pgsbathhouse2 on Sunday April 05, 2020 @06:34PM
(#22789299)
> How did we all manage to build an economy such that we're all paying each other just-in-time to avoid catastrophe?
Stagnate wages. And instead of raising wages, we lowered interest rates to keep the money flowing going.
As we have just discovered, an entire segment of society is being propped up by the borrowing power of the "middle class" in America.
We have been pulling the wrong levers, and as you've said in not so many words, our current economy is a farce. People are being fed the scraps of the economic pie.
We should give the people their money; their due, proper wages. We should stop formulating economic policies on "the rich should get richer no matter what." It might not be too late to return to sound economic policies that benefit the populace and not a select few, and in return we'd have a more robust economy.
Businesses lose cash flow for one month and they can't pay workers. Workers miss one paycheck and they can't make rent. Landlords miss one rent payment and can't pay their mortgage. Banks start seeing mortgage defaults and immediately need a bailout. Everyone's broke! It's broke all the way down. If any one of those in that chain kept a little emergency fund, we wouldn't be in this situation. How did we all manage to build an economy such that we're all paying each other just-in-time to avoid catastrophe?