You only got obliterated in 2008 if you took your money out of the machine.
With the S&P500 as an example, within 4 years it was back to where it was. By now, it’s worth 4 times what it was in 2007 at the peak before the trough.
It’s all about being able to save. If you can’t then capitalism won’t work for you. I feel it’s worse now, but there’s always been the poor and always will be. The world ain’t about to get fair any time soon. They just rely on the welfare state a lot more. Which is fine. I suspect some of the people struggling the most just aren’t claiming what they’re entitled to.
You only got obliterated in 2008 if you took your money out of the machine.
With the S&P500 as an example, within 4 years it was back to where it was. By now, it’s worth 4 times what it was in 2007 at the peak before the trough.
It’s all about being able to save. If you can’t then capitalism won’t work for you. I feel it’s worse now, but there’s always been the poor and always will be. The world ain’t about to get fair any time soon. They just rely on the welfare state a lot more. Which is fine. I suspect some of the people struggling the most just aren’t claiming what they’re entitled to.
The people who were laid off didn’t have a choice.