Hacker News new | ask | show | jobs
by blunte 2289 days ago
None of this really matters. What matters is when people (non-shareholders, non <1%ers) pass that tipping point which they already live so close to.

They won't get paid because they'll be home sick, or told not to come in; so they won't have "hours" on their timesheets. They don't have any safety net.

They will miss rent payments en masse. Small business property companies (landlords) will suddenly have a cash flow problem and won't be able to make their mortgage payments.

Enough little people will stop having any money and spending any money, and all that will be left is the imaginary money in the stock market and the quantitatively-eased-up banks - none of which does anything useful for the little people.

This will create a very interesting situation that truly will threaten the current way of things in certain skewed capitalist countries. What will come out of this will surely be a lot more socialist (or rather, gains being distributed more equally amongst the population instead of going to the top 0.1%). The top 0.1% will not suffer, because honestly what is the difference between 100M net worth and 1B net worth.

1 comments

This is absolutely the key - unless we rapidly deploy a safety net we're going to see hourly workers across many sectors lose their income. A sudden spike in not being able to pay rents, buy food, take care of their children.

Unless we do something, we're going to see a rise in evictions, suicides, and civil unrest.