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Originally Posted by afc wimbledon
If I and most of my fellow proletariat are doing ok, have a decent life, food a place to live etc why do I care if Bill Gates has 99% of the wealth, as long as the 1% left over looks after everyone else who gives a ####?
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Because if all workers are working together to create the nation's wealth, but only some are basking in the bulk of the created wealth, the system is pretty much a scam. Not hard to see.
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This just shows that optimism reaches highs at the end of a business cycle shortly before it crashes. This has been a very long cycle, largely being fueled by low rates and several rounds of QE. We're due for those lines in the chart to cross again and the big question is just whether or not it happens quickly enough for Trump to lose the confidence of Americans before November, assuming the elections are even fair in November. It has possibly already started.
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And when a crash does happen, do you really want someone like Donald Trump, who has already shown overt autocratic tendencies, to be the president? A severe economic crash, coupled with civil unrest, would give him pretext to declare a national emergency and grant himself sweeping dictatorial powers. Is there historical precedence for such a thing happening? There absolutely is...
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Originally Posted by Azure
You literally have the strongest economy the world has ever seen, and then you have a Presidential candidate who runs around telling everyone the whole country is screwed.
Massive disconnect and detachment from reality. There is a lot that needs to be fixed, but lets not kid ourselves. Many Americans are doing very well.
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An estimated 40% of Americans are living paycheque to paycheque and wouldn't be able to cover a sudden expense.
https://www.cnbc.com/2019/07/20/here...d-expense.html
There are still hundreds of thousands of homeless people in America
https://en.wikipedia.org/wiki/Homele..._United_States
And, like it or not, Trump's economy is a house of cards
https://www.google.com/search?&q=con...porate+debt+us