cross-posted from: https://slrpnk.net/post/12113669
don't forget to tip your landlord, peon
this post was submitted on 23 Aug 2024
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Housing Bubble 2: Return of the Ugly
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This means nothing. The gap between the wealthiest and the rest, in other words, the tip of the peak, is constantly rising.
If you pretended everyone who's poor didn't exist, and did the calculation with just the middle class and up, the statement about the wealth gap would still be true.
Just because it doesn't mean what you think they're saying doesn't mean it means nothing.
That disparity is not a benign thing, even with a more robust "middle class".
The disparity is not why poor people are poor--it's a boogeyman.
The correlation between the number of billionaires globally and the prevalence of poverty globally is literally negative.