Reply #6: Once again, you can't concentrate capital at the top [View All]

[Warpy]

into a few hands and have the bottom substitute debt for substandard wages and expect the system to last for long. It is inherently unstable and will collapse. The people at the bottom always get hurt the worst, but the people at the top who fall on top of them don't escape injury.

This has repeated itself so many times through our history that you'd think we'd start getting wise to it. Unfortunately, economics seems dedicated to finding ways around it all, to fatten the rich without beggaring the poor, something that is impossible, and every 50 years or so there's a new generation with no memory of the last cycle, ready to swallow the same old snake oil.

Had the protections of the New Deal been left in place, complete with the progressive tax system and sensible tariffs protecting US jobs, we wouldn't be in this mess. However, the rich couldn't wait to get rid of it, and now they're going to take the fall with the rest of us.