@iamkoshiek Yeah as Buffet says, you only know who is swimming naked when the high tide dissipates. Most of the street overestimates how good things are and underestimates how bad things are
you’ve raised something that I I need to read up on. Not sure how one would prove that prices have risen due to demand and not due to the market being used as a financial market. I thought 08 was essentially proving that there was a dislocation between the markets and real demand
@iamkoshiek That coupled with the return on capital being above the gdp growth of the economy exacerbating the inequality between those who rely on labor for income vs those who rely on capital.
@iamkoshiek Yes but the point I’m making is the proportion has increased in the last 40 years making it much more difficult to “work your way” to the same level of wealth as the previous generation
@iamkoshiek But asset growth is highly correlated to disposable income. Assets have been accumulated by the initial high earners of wages, who then lent their capital to firms for returns. The rising costs in the housing market is highly linked to real estate being used a profit-maximizer
@iamkoshiek Also it’s almost as if the larger proportion of wages taken by the executives over the last 40 years while average real wages remain stagnant for everyone else doesn’t literally mean millennials are broke.
@ALETTAHA@mybroadband@DeanMacpherson@Our_DA Right that’s a great defense, more people want to hear what he has to say therefore what he has to say is relevant. I’m sure you support the DA shutting up in parliament then seeing as they got whacked in the last elections?