I legitimately think that Trump being in charge in the US in 2020 and the complete fraud that was the PPP loans were a huge driver in this wealth transfer... we had a situation around the world where workers were quitting and rethinking their decisions - workers had so much more power than usual and corporations were desperately hiring; causing wages to go up and a lot of workers saving through remote work....
... but the PPP loans were massively abused by companies that didn't need them, and were entirely forgiven which meant so many companies invested in stock buybacks and asset prices went crazy in 2021.
We can never really know, but I do think the wealth gap could have significantly decreased at that time if someone else had been in charge.
We can never really know, but I do think the wealth gap could have significantly decreased at that time if someone else had been in charge.
Very possible. But it is like an arms race - it happened globally. And due to globalised banking, the same companies and large shareholders are invested everywhere simultaneously. It doesn't matter which country.
I agree. Whether created or not, that is what it quickly became as governments and corporations capitalised on the situation to our detriment.
I legitimately think that Trump being in charge in the US in 2020 and the complete fraud that was the PPP loans were a huge driver in this wealth transfer... we had a situation around the world where workers were quitting and rethinking their decisions - workers had so much more power than usual and corporations were desperately hiring; causing wages to go up and a lot of workers saving through remote work....
... but the PPP loans were massively abused by companies that didn't need them, and were entirely forgiven which meant so many companies invested in stock buybacks and asset prices went crazy in 2021.
We can never really know, but I do think the wealth gap could have significantly decreased at that time if someone else had been in charge.
Very possible. But it is like an arms race - it happened globally. And due to globalised banking, the same companies and large shareholders are invested everywhere simultaneously. It doesn't matter which country.
It really serves to highlight how bad policy in the US can affect the rest of the world.