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20 sats \ 2 replies \ @davidw 31 Mar 2023
Decent article. This is what journalism should be about and what constitutes real news.
- 44% of Americans working 2nd job
- 60% of Americans living paycheck to paycheck
- 18m Americans in poverty
- Electronic Arts ditching 6% of staff
- Burger King closing 26 locations
- Bed Bath & Beyond selling stock to prevent bankruptcy
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12 sats \ 0 replies \ @Undisciplined OP 31 Mar 2023
And that 44% doesn't include all of us stacking sats like mf'ers on the side.
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0 sats \ 0 replies \ @orthzar 31 Mar 2023
To put this another way, three out of five Americans have no savings to speak of. As the Austrian Business Cycle Theory explains, that means a bust is upon us. Savings is an indicator of how much resources are available for production.
When savings/resources get low, production is forced to stop, tools/machinery get sold, and other production begins with the remaining available resources. The longer that nation-states delay the bust, the fewer resources/savings there will be to recover from the bust.
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0 sats \ 0 replies \ @Undisciplined OP 31 Mar 2023
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