In school we learned that when the economy "booms" or is at its current high point, everyone, excluding very rich people, are doing worse. Most of humanity (like 95%) are better off when the economy is doing poorly, as goods tend to get cheaper. Just something I wanted to share.

[–] droans@lemmy.world 6 points 9 months ago* (last edited 9 months ago)

Most of humanity (like 95%) are better off when the economy is doing poorly, as goods tend to get cheaper.

They're cheaper because people are buying less.

People are buying less because they don't have the money to buy more.

They don't have the money because they're out of a job.

They're out of a job because the economy is in the toilet.

The super rich also love recessions. They still have money. If they want to acquire a company, they can do it for cheaper. The GCF of 2007-2009 is considered to be one of the largest wealth transfers and wealth consolidations in history.

[–] Swedneck@discuss.tchncs.de 5 points 9 months ago* (last edited 8 months ago) (1 children)

"the economy" can be replaced with "rich pepole's yacht money"

"Rich people's yacht money is at an all time high!"

[–] Smorty@lemmy.blahaj.zone 1 points 8 months ago

"trickle down economy" All the trash will magically trickle down from their yachts onto the beaches and onto our plates!