mog77a

@mog77a@lemmy.world

• ⁨Comment⁩ on ⁨Do people really think setting up domestic manufacturing in the USA is easy?⁩ ⁨⁨1⁩ ⁨day⁩ ago⁩:

  Fun fact: the top 10% now account for approximately half of all consumer spending which equates to about 30-35% of US GDP. First time since we started tracking it and first time in a long long while that’s happened. Wealth inequality has indeed matched the guilded age. Maybe even surpassed it but it doesn’t quite seem like it yet. Just matched.

  Also the stock crash isn’t about stocks. It’s about capital and labor investment. When things go bad, the small to medium sized businesses struggle the most which then Blackrock and the like swoop in to buy them all at steep steep discounts. That is ultimately a smarter long term play than buying “slightly” discounted stocks. IE the stock play is as you said. It’s mostly rich folks that own it but the rich don’t own all businesses yet. Recessions are a chance to do just that which from looking around we already seem to be in with the amount of layoffs and small to medium sized business struggling mightily. The internet omni-presence and ability to earn money sitting at home is too strong for a standard recessionary environment and indicators to show up to the same degree as before. Or at least that’s what I think.