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Tldr, you’ll only get rich by starting a business. Great advice for the tiny population of people who have the skills, the means, the discipline, and the time. That person he describes with $50k annual income, little or no savings, and significant credit card debt sure as hell isn’t starting a successful business, especially since they most likely have children and are working hard hours. He’s dismissive of being “less poor”, but for anyone who has actually been in or witnessed this average scenario, less poor is way the hell closer to rich than not. The real problem on display here is the capitalist dystopia we live in. Fifty years ago that average person would have been able to support a family, buy a house, and not live under the constant threat of bankruptcy from a surprise medical bill. But yea, start a business! |
50 years ago, 70 years ago, an enormous series of treatments we now have, did not exist.
And even disease treatment options, even knowing how some diseases worked? Nope.
So medical care was less costly, because, there was literally less to be done. And people died at home more often too, as a result.
So naturally medical care was less costly.
And housing, the average family did not have a ginormous, 6000sq foot house. Try 1000 sq foot, 1500 sq foot as a norm.
So sure, less cost.
Same with all these fancy dodads.
Yes, 100% housing is more expensive due to low rate mortgages, and other reasons.
But in non-crazy priced locations, you can still build a small 150k, 250k house with land all in.
Some of it is indeed changing wages vs costs, but some is "more" vs wage.