Exposed: How Debt Became the Tool the Wealthy Use to Drain Workers’ Income
The economy isn’t broken—it’s engineered. Learn how debt became the oligarchy’s most powerful tool.
#CapitalismCritique #corporateGreed #debtEconomy #EconomicJustice #neoliberalism #Oligarchy #progressiveEconomics #publicDebt #wageStagnation #wealthInequality #workingClass https://wp.me/p1OjMZ-oMK
Funny, that.
#memes #humour #capitalism #wages #minimumwage #wagestagnation
The USA is lost as a nation until labor remembers that it has no friends in the C suite. It is an adversarial relationship, and we've let them gaslight us into devaluing our own contribution.
Your immigrant neighbor is not the problem. The stay-at-home parent who just needs health insurance is not the problem. The trans librarian at your local library is not the problem.
The people who amass unimaginable wealth and still, at every opportunity, pick our pockets through wage theft--THEY are the problem, and they are working around the clock to make sure you never see it that way.
“Findings on the costs of in-person work come as companies including Amazon, Dell, Apple, Google, IBM, Meta, Salesforce, are doubling down on RTO at least three (if not all five) days a week for their workforce. At the same time, workers have been hit where it hurts—in the wallet by years of inflation, rising cost of living, and stagnating wages.”
#ReturnToOfficeMandates #WorkFromHome #RTO #CostOfLiving #Inflation #WageStagnation
https://www.fastcompany.com/91430279/how-return-to-office-hits-workers-wallets
The average age of homebuyers is now 56, up from 49 in 2023, according to the National Association of Realtors’ annual state-of-the-market report released Monday. That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.
The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024. That marks the lowest percentage since NAR started tracking the metric in 1981.
That’s largely due to rising homeownership costs, he says. The median U.S. home price is now $435,000, per NAR — up 39% since 2020 — while the average 30-year fixed mortgage rate has more than doubled to over 6% in that time.
An 18% down payment — the median percentage buyers put down, according to NAR — on a $435,000 home comes to $78,300. That’s a significant expense, nearly matching the annual U.S. median household income of $80,610, per U.S. Census Bureau data.
Younger buyers are also competing with wealthier all-cash buyers, whose share of home purchases has increased from 20% to 26% in the past year, the study says.
#classwar #USPol #inequality #oligarchy #gerontocracy #classwarfare #capitalism #anticapitalism #poverty #proletarianization #structuralviolence #austerity #wagestagnation #studentdebt #healthcare #healthinsurance #housing #rent #homeownership #firsttimehomebuyer
Time for a RENT STRIKE!
Half of all U.S. residents paid unaffordable in 2022.
Since 2001, median rents have risen by 21% — while renters’ incomes have only increased by 2%.
12.1 million Americans paid over half their income toward rent.
Then came the #neoliberal turn, and 40 years of #WageStagnation, increased inequality, and corporate rule.
Anything that can't go on forever will eventually stop. Finally, *finally*, we have reached a turning point in labor, with public approval for unions at levels not seen since the Carter administration and *thousands* of strikes and protests breaking out across the country:
https://striketracker.ilr.cornell.edu/
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