/biz/ - Business & Finance

[Anonymous No.55178530]

Why does it seem like everyone is both rich and poor in 2023

Everyone is poor because unemployment, inflation, etc.

But also everyone is rich now? Business class upgrades are impossible because everyone just buys them outright, when you used to be granted them all the time. Everyone is "just waiting for the housing prices to dip with their load of cash". Everyone just lops a load of cash to beat your housing bid. Everyone is traveling abroad to places like Japan when normies never used to go beyond Mexico (american) pre 2015.

How tf did this happen? Are they all tech workers who rode the 2010-2021 wave? Why are there so much more rich-lite people now? While also everyone is poor??

[Anonymous No.55178545]

this is what happens when 80% of the worlds money was printed in 2 years

[Anonymous No.55178548]

I think it's because of credit cards. I know a guy that's constantly going on trips, just bought a new car, and is now buying a new condo. But I found out that all of it is on credit. He's getting a huge mortgage at a high rate for his condo, he has a car loan, and all of his trips were charged to his card. If he stays employed he can pay it off over time. If he gets laid off he will immediately be bankrupt and have nothing

[Anonymous No.55178552]

>>55178530
It’s because the internet has warped your perception what “everyone” is like.

[Anonymous No.55178559]

>>55178548
debt, people are spending the same amount of money or more, but a larger portion is in debt.

Look at a chart of personal credit card debt, it's at all time highs

[Anonymous No.55178594]

>>55178530
Society is partitioned like that now. You either have a high paying job and investments that were pumped by the 'rona printing press, or you're a food delivery wagie.

[Anonymous No.55178599]

>>55178530
money is a meme now. it doesn't represent value anymore only sheet willpower. buy one gme share and then just imagine a trillion dollars in your account. it works! try it out.

[Anonymous No.55178607]

>>55178548

I feel like this is a big part of it. People did have a lot of savings from the pandemic when everybody was locked up and couldn't do anything, plus wages had gone up quite a bit over those couple years as well. But after they blew through their savings they didn't cut back on their lifestyle and instead are trying to maintain it with credit cards. Which will obviously work for a while, but eventually it's going to catch up with you. When student loan repayments finally restart is probably where a lot of people who had overextended themselves are going to be in trouble.

[Anonymous No.55178624]

>>55178594
this

[Anonymous No.55178630]

>>55178530
>Are they all tech workers who rode the 2010-2021 wave?

That and lots of rich overseas investors looking to diversify/large indian families pooling their salaries together.

[Anonymous No.55178796]

>>55178548
Credmaxing?

[Anonymous No.55179027]

>>55178530
>rich-lite

[Anonymous No.55179290]

>>55178530
All of the people that actually have money these days are being really low key about it and hiding it from prying eyes. With a world population of 7 billion+, you'd be surprised at what a tiny percentage of the world's population needs to actually be doing well for all of these industries to stay in business. Problem is billions of poor people have access to the internet now and bitch about being broke there all the time, which is why you would think that everyone is broke.

[Anonymous No.55179343]

https://en.m.wikipedia.org/wiki/Economic_inequality

The economy is geared toward rich professionals and cashed up boomers now more than ever

[Anonymous No.55179373]

>>55178530
it's because of the disappearing middle class and rising wealth inequality.

[Anonymous No.55179402]

it's because the price of things which were considered somewhat of 'luxury' actually began to seem like good deals compared to the overall price of things

in other words, think of it like buying a car: would you buy a Volkswagen for 20k or a Mercedes-Benz for $25k?

[Anonymous No.55179435]

>>55178530
are your hormone treatments too expensive? >:)

[Anonymous No.55179451]

>>55178530
I'm not sure where I stand. I make a middle class income, but things are so expensive that I just live with my parents and save my money. On paper, I'd look like someone who's doing well, but my life isn't substantially different from a wagie's.

[Anonymous No.55179456]

>>55178594
Yes. The middle class is being redistributed into the lower class (mostly) and some into the upper-middle.

>>55178548
I know people that have only ever lived like this for the last decade. Good luck to them.

[Anonymous No.55179460]

>>55178548
>If he gets laid off he will immediately be bankrupt and have nothing
good, society needs more submissive cattlegoy who won't ask for raise ever

[Anonymous No.55179473]

>>55178530
Everybody talks about the 1% but like 20% of the population that makes $100k+, gets matched by employer with 401k, health insurance, gets to "work remote." These people are fine which is why they vote for Biden and think everything is great. Everyone else is making it work on a shoestring. Sometime when things are really great they have extra cash and when it's like post 2008 they usually take the biggest hit. 57% of Americans can't put their hands on $1,000 but the remaining 43% can put their hands on progressively more money up to the top 1%.

[Anonymous No.55179761]

>>55179456
>The middle class is being redistributed into the lower class (mostly) and some into the upper-middle.

imagine being this much of a mouth breather. the ultra rich absorb like 80% of the economy's growth

[Anonymous No.55180202]

>>55179761
Boomers also got a payoff through housing prices. If you're a boomer with a house you saw your net wealth increase by several hundred thousand dollars without lifting a finger.

Once boomers die out however, idk what's going to happen. There won't be any more sizable.demographica to enforce the status quo, so we'll either get increasingly radical politics or a surveillance state where democracy is effectively abolished for rule by technocrats.

[Anonymous No.55180447]

>>55178530
>Everyone just lops a load of cash to beat your housing bid.
So many of these people are insanely underwater and over-leveraged like you wouldn't believe.
>Everyone is traveling abroad to places like Japan when normies never used to go beyond Mexico (american) pre 2015.
Mexico tourism and ex-pat Americans on residency visas is surging. But might also be part of the phenomenon you're talking about. - It seems "rich/poor" because everyone is just scamming one another.
Americans love to just hijack something and sell it back to someone else at a higher cost without doing much (they'll do this with Mexico via fast-track stock gentrification - coffee shops, restaurants, other 'hip' nonsense, it's already happening). The jeet tier, but instead of selling a hunk of human shit and saying it's a Hindu prayer bead, Americans just do this with every possible thing, from human necessities like housing and food, all the way down to garbage like old toys or t-shirts that are sold on eBay for hundreds or thousands of dollars.

[Anonymous No.55180494]

when i started going to the casino years back i thought it was odd how everyone seemed like a fucking pro. Everyone is playing with their chips like they toss $100 chips around all day for fun. Everyone is fucking loaded or acting like they are. I've never felt so small