Now when we look at the old saying 'the rich get richer, the poor get poorer' most shrug it off as a pun or a joke in time of self reflection about a current financial situation ect. But the reality is its becoming a major problem in our modern societies.
So what does this mean for the average person, now we have all just lived through one of the largest ever increases in inequality during covid, now when we delve into the statistics behind where the furlough and stimulus ended up we can see how much inequality increased, what we saw is a debt passed on to every tax payer, in the UK I believe it was around £7000 a tax payer and in US towards 12K , this wealth was then transferred to the rich, and saw staggering wealth increases in the 'rich' category, either through stock owners or landlords ect, rising interest rates.
In the UK we saw interest rates rises, but the usual correlation to house prices in which typically we see rate risers lowering the house prices didnt occur! I work in the building business and have contracts with wealthy clients, These guys are currently buying elderly peoples property in a nice seafront location local to me, they then destroy the house and rebuild modern second home £5m mansions! whilst UK house prices to salary is the same as it was in 1876! Is this not a serious issue to the working man!
What we are seeing is living standards drop generation to generation as well as asset purchasing becoming harder and harder to youngsters.
Inequality has been a trending issue since 2008 when the interest rates were kept low due to the broken economies world wide, during this time we have seen the price off XAU rise staggering amounts.
The problem we face is the constant lowering of wages due to inflation, since 2008 the UK government has pretty much been flat broke, we see it currently in the poor state of roads, NHS ect.
The real question is where is this money?
Part 2 coming soon
So what does this mean for the average person, now we have all just lived through one of the largest ever increases in inequality during covid, now when we delve into the statistics behind where the furlough and stimulus ended up we can see how much inequality increased, what we saw is a debt passed on to every tax payer, in the UK I believe it was around £7000 a tax payer and in US towards 12K , this wealth was then transferred to the rich, and saw staggering wealth increases in the 'rich' category, either through stock owners or landlords ect, rising interest rates.
In the UK we saw interest rates rises, but the usual correlation to house prices in which typically we see rate risers lowering the house prices didnt occur! I work in the building business and have contracts with wealthy clients, These guys are currently buying elderly peoples property in a nice seafront location local to me, they then destroy the house and rebuild modern second home £5m mansions! whilst UK house prices to salary is the same as it was in 1876! Is this not a serious issue to the working man!
What we are seeing is living standards drop generation to generation as well as asset purchasing becoming harder and harder to youngsters.
Inequality has been a trending issue since 2008 when the interest rates were kept low due to the broken economies world wide, during this time we have seen the price off XAU rise staggering amounts.
The problem we face is the constant lowering of wages due to inflation, since 2008 the UK government has pretty much been flat broke, we see it currently in the poor state of roads, NHS ect.
The real question is where is this money?
Part 2 coming soon