capitalism

Out of context: Reply #349

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  • i_monk1

    The rich are getting free money and capitalism is broken, says US billionaire

    https://au.finance.yahoo.com/new…

    ‘Trickle-down’ economics doesn’t work

    At the end of the day, the haves will have more and the have-nots will continue to have less, said the hedge fund founder.

    “At the same time as money is essentially free for those who have money and creditworthiness, it is essentially unavailable to those who don’t have money and creditworthiness, which contributes to the rising wealth, opportunity, and political gaps,” Dalio said.

    Making things worse is the fact that workers will become displaced by robots, AI and automation, he added.

    “Because the ‘trickle-down’ process of having money at the top trickle down to workers and others by improving their earnings and creditworthiness is not working, the system of making capitalism work well for most people is broken,” Dalio concluded.

    • oh, trickle down not working? how can that be? :)renderedred
    • Almost like it never really did that anyway, certainly not by design.i_monk
    • true but not a fault of capitalism at all. the trickle down approach is gov central planning thinkingdeathboy

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