That’s the nature of capitalist boom/bust cycles. Each one results in a wealth transfer to the top because majority of people end up having to let go of their assets to make ends meet. In this way assets get freed up for the top percent to gobble them up. So, when the economy stabilizes the majority of the population ends up on thinner margins and less able to absorb the next crash. Eventually, enough people get pushed off the cliff so that the whole house of cards falls apart.
I think the first shocks obliterate wealth in the stock market and then the long trough/recovery is where they exact their pound of flesh back from the people they have power over.
Yeah, the market collapse tends to act as the catalyst. As the market falls, companies go out of business, and bigger capitalist can devour smaller ones. Meanwhile, all the workers end up being let go, and as people lose jobs they let go of their assets next.
And bonus points because we never actually recovered from the subprime bubble!
That’s the nature of capitalist boom/bust cycles. Each one results in a wealth transfer to the top because majority of people end up having to let go of their assets to make ends meet. In this way assets get freed up for the top percent to gobble them up. So, when the economy stabilizes the majority of the population ends up on thinner margins and less able to absorb the next crash. Eventually, enough people get pushed off the cliff so that the whole house of cards falls apart.
I think the first shocks obliterate wealth in the stock market and then the long trough/recovery is where they exact their pound of flesh back from the people they have power over.
Yeah, the market collapse tends to act as the catalyst. As the market falls, companies go out of business, and bigger capitalist can devour smaller ones. Meanwhile, all the workers end up being let go, and as people lose jobs they let go of their assets next.