Poor People Cannot Create Wealth

Only the rich get richer

Recently I had a discussion on TikTok with the unknown billionaire's son. I couldn’t verify his identity but his writing seemed pretty confident and he described himself as an heir of the ultra-rich without revealing his real identity.

The point he wanted to make was simple:

Statistics are obviously right with that observation. The young guy on TikTok concluded that

Absolutely. It is still possible in my opinion that everybody can work out of poverty and amass a certain amount of wealth.

Yet, the majority of the bottom 90% forgot most of the skills that are necessary to create wealth. My interpretation is that marketing created an environment that makes people believe that happiness evolves out of consumption.

The financial industry has created an economy that hands out loans regardless of the salary or net worth of the customers.

Back in the 70s and 80s, every bank did thorough financial checks before underwriting a loan contract. Today, no proof is needed.

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