Friday, July 6, 2018
The Plutocracy Will Be In Trouble When The Next Economic Crash Comes
The global economy is being held up with gargantuan accounting fraud and endlessly growing debt. The stock market is in a bigger bubble than it was before the crash of 1929, with the market’s declines so far this year being just a hint of what will come next. This debt is tied in with the housing bubble that’s emerged in the last decade, whose size is also unprecedented. As wages continue to fall for workers around the world, credit card debt has become bigger than ever, with the bottom half of Americans now owning close to zero money on average because of the vast debt they’ve created to maintain their livelihoods.