Ed Verbeek schreef op 16 mei 2015 11:24:
Jaja, lenen, lenen, lenen.
“Rise up, ye young’uns, you have nothing to lose but your parents’ debts.”
Average hourly wages have barely budged in the last 30 years.
And average household incomes have fallen – from $57,000 to $52,000 – in the 21st century.
In the meanwhile the value of U.S. corporate equity, mainly held by older people, had multiplied by 28 times since 1981.
The reason:
First, old people, not young people, control government.
Ultra-wealthy campaign funders like Sheldon Adelman and the Koch brothers were all born in the 1930s. The big money comes from wealthy geezers like these, eager to buy candidates early in the season when they are still relatively cheap.
Old companies fund most Washington lobbyists, too.
And old people decide elections: There are a lot of them… and they vote. They know where the money is.
Second, the government – doing the bidding of old people – restricts competition,
subsidizes well-entrenched industries, raises the cost of employing young people, and directs its bailouts, cheap credit, and contracts to the graybeards.
Third, the credit-based money system increases the profits and prices of existing capital.
It encourages borrowing and spending.
This rewards the current generation while
pushing the costs into the future.Young people of the world, unite!
bonnerandpartners.com/are-you-ready-f...Sinds ik in 1999 voor het eerst Bill Bonner las, is hij mij favoriete columnist gebleven.
Maar ja, er zullen altijd mensen zijn met een bord voor hun kop
die denken dat de V.S. het grootste, machtigste, rijkste enz. zal blijven :-)