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RE: AskHive: How do you feel about SBI (@steembasicincome)?

in Ask the Hive5 years ago

This is quite a wall of text. I'm not going to write an essay in response, but if you're interested in learning more about economics and the current situation have a read up about the Cantillon Effect

Basically what the US (and other central powers) are doing is throwing UBI type payments at the poor to pay them off, while they simultaneously execute massive bail-outs of the big banks, corporations and even municipal governments. This is classic smoke and mirrors stuff and it's the reason we have growing wealth inequality. Tip - It's going to get worse.

The ones who are really getting screwed are the middle class. The engine of the Western economies. Small businesses are getting destroyed.

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Thank for for the recommendation, I'll give it a look.

I believe you and I share similar opinions. Bailouts are happening independent of the further welfare programs. Profits are privatized, losses are socialized.

At this point, the question is whether or not there is going to be a safety net or not.