Note the rounds of 19th century and early 20th century immigration led to debt spikes?
Third Worlders in the First World are just economic parasites. It’s IQ and high time preference.
Spoiled privileged Yang truly promises a Boomer bailout of mortgages via a blisteringly obvious planned rent hike* (since all the poor would suddenly be good for it) and you don’t need extra ‘money’ to end the welfare cliff. It’s a pen stroke away to step the payments down gradually.
America’s net worth is negative too, more socialism will cause hyperinflation – and then, invasion.
People ate leather sofas in Weimar Germany and licked wallpaper glue.
Allegedly they ate babies. This would be mathematically worse.
What’s to stop the sneaky QE of UBI leading to price raises across the board from all sectors? Especially food.
Nothing. That’s what.
People are celebrating a termite in their savings.
UBI: It’s the missing link between inflation and hyperinflation.
The ‘basic’ is a clue. It’ll go on basics – 1. rent, 2. food, 3. medical.
“Universal” – you have no choice whether to go into debt. No choice. But rich people will get a bailout, no means testing. Fair? About inequality? No and no.
The distance between the poor guy with $0 and the rich guy with a million will be exactly the same if you give both two grand. Perhaps higher, because increasing monetary supply directly causes one thing.
Prices will rise. Regardless of specific agents e.g. landlords.
So spending power of the poor guy will decrease.
Go ahead, vote for it. I wanna see what happens.
You cannot consider income without expense.
It’s an equation, it has two sides.
If only there were an economic law to explain this concept, of supplying and demanding…
*The average hippy American Boomer seriously considers their house their pension. That is factual.
Map the top chart onto spending power, I dare you.
Tell Yang you’ll have UBI under one condition: rent controls. He won’t do it.