Yeah this is literally what happened in 2008. Economic instability stopped banks from lending to would be individual home buyers, but corpos bought up everything they could eagerly with a 20% price cut.
Economic instability is generally better for the people who can weather the storm, i.e. those with resources to spare, because (as you say) they can buy assets on the cheap when the less fortunate run out of cash to survive on and have to liquidate.
It’s long periods of stability that seem to let the lower classes build up a little. Yet another reason why war and strife is of benefit to the rich.
turdcollector69@lemmy.world 1 day ago
As someone with a 401k I really hope it isn’t.
The economy crashing won’t hurt billionaires but will kill the middle class.
If anything the economy crashing will allow the 0.1% to buy up anything they haven’t gotten already.
actionjbone@sh.itjust.works 1 day ago
And now you see why they want to crash the economy.
tortina_original@lemmy.world 1 day ago
What middle class? 🤔
Zorque@lemmy.world 1 day ago
The one so worried about their 401Ks they won’t risk the ire of the rich.
BreakerSwitch@lemmy.world 15 hours ago
Yeah this is literally what happened in 2008. Economic instability stopped banks from lending to would be individual home buyers, but corpos bought up everything they could eagerly with a 20% price cut.
MajorasTerribleFate@lemmy.zip 14 hours ago
Economic instability is generally better for the people who can weather the storm, i.e. those with resources to spare, because (as you say) they can buy assets on the cheap when the less fortunate run out of cash to survive on and have to liquidate.
It’s long periods of stability that seem to let the lower classes build up a little. Yet another reason why war and strife is of benefit to the rich.