Debt because the cost of incurring debt is for most people on wall street is their own. Cost anything. And used to be going back even 20 years hed have to pay 5. 00 or 6 percent in interest to take on a bunch of debt now to 0 in back in the in the u. K. Recently they had Interest Rates at a 300 year low price so theres no cost for that if you dont have to pay for it any just get it for free get a bunch of money delivered your office for free and you can go buy tiffanys with it or if you go buy a big production utility with it thats guaranteed income or buy Huge Corporation with it why not well there used to be a cost to debt which is why we did not incur any debt which is why we could not as a nation and thats why the g. D. P. Stay flat along with the flat levels of debt baby boomers were born in 1946 s. The 1st of them the debt started to rise g. D. P. Also started to rise nominally with it 971. 00 of course when the 1st of them or what 2223. 00 we went off the Gold Standard because t
View is that this is leading to feudalism or you have just a few private equity firms owning 98 percent of all the assets of everyone elses Living Service on that were getting back to the dark ages and in my view so were going to look at a few other stories to suggest yes there is the top 0 point one percent that you talk about but within that structure is allowed because the boomers got in 1st on this ponzi scheme we have a global free up ponzi scheme in the boomers were lucky enough to be right there when it started so were going to show you how they benefited most versus generation x. My generation which came after them and now millennial are doing even worse z. Forget them right fraction of us wealth owned by boomers and generation x. Are is when the average member of each was aged 35. 00 boomers and 1989 they owned 21. 00. Percent of us wealth generation x. In 2008 when they turned 358 percent so dropped by over 50 percent the average millennial turns 35 in 2023 right now they own