Under the current climate, that is true, but as the wage gap increase and technology advances, it'll become more of an issue. At some point, maybe in 30 years, maybe in 100, it will literally be UBI or revolution. Movies like Elysium, Hunger Games, etc aren't complete fantasy.
I think your way underselling how long it may be before a revolution. First Bernie type that cranks taxes to 70% and reaches for the guns will trigger it. UBI may be in their bag of tricks too. Who knows?
What the actual fuck? How is there more "competition" in credit card issuance than there is in post-secondary education?
Nobody will “crank it up”. They know the frog will jump out of the pot. They’ll slowly increase the temp until it’s too late.
I thought it a good comparison... folks with better credit scores get better percentage rates.. and better schools with more money.. folks with lower scores end up in trade school and community college.. and 26%+ CC Rates.. and lower lines of credit.. higher costs all around.. Overdraft fees are sometimes 3000% apr (time/costs)
While they were at that Prominent University, perhaps they learned a little something about the concept of Caveat Emptor!!!
What wage gap increase? Serious question. Last I checked poor folks have always made less than rich folks and there have always been those in between.
People have been predicting the end of the world for centuries. One day one will be correct, one. Before buying into that kind of thinking you might just look into the more recent items. Y2K, the predictions of when we run out of oil, global starvation, etc. Plenty out there none correct.
Read between the lines...."If we ALLOW them (the farmers) to make a profit..." Fuck Beto and all the other communists. Let him wave his hands around like a windmill in Cuba...better yet NoK.
It's the the problem that's incorrect, it's the timing. At some point we'll be forced to face reality. We've been kicking the can down the road for a long time.
Keep on keeping on Chicken Little. Reality is that people live better now across the world than ever. Yes there is issues but compared to say the 1700's But hey keep predicting the end is near.
I’m not saying we’re doomed, I’m saying that the system as it functions now is doomed. We will have to adapt and one of those adaptations may well be something like UBI, or maybe even a movement away from a monetary system altogether. I don’t know.
Of course the system will change, as it is, paper money is clearly on its way out. Digital currency probably handles 75% of all transactions already (just a guess). When AI becomes a reality the "man" will know where you are and who you are at all times. Just walk into a store or better yet talk to you electronic assistant and what ever you want will be delivered to you...if you have the digits in your account. Consumption is going to explode as well as debt until we are all slaves....No where to run, no where to hide....
Why did you buy a car when you could have a multi purpose truck that you could use for several applications especially if your car of choice was only good for one application? See what I did there?