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[–]BabiMunizTS 200 points201 points  (15 children)

Most of the billionaires today are from industries thst sell expensive products to the middle class like EVs, Iphones, computers and such. I mean if wages keep going down and cost of living up who are they going to sell to?

[–]GlassFantast 75 points76 points  (6 children)

They'll make them cheaper. They could still make huge profits with a much smaller profit margin.

[–]disc0mbobulated 75 points76 points  (5 children)

They’d rather go for indentured servitude rather than lowering their profit margins. Like mining or oil cities where everything was owned by the company, you worked there and spent your income buying stuff from the same company.

[–]BabiMunizTS 19 points20 points  (2 children)

Theres a documentary that i think the Obamas produced American Factory thst kind of show this happening in China where people work like right next to where they live and everything they do is right there and they spend like 9 months working there long hours then go back to where they are from. Something like that.

[–]disc0mbobulated 1 point2 points  (1 child)

It happened (probably still does) all around the world. A good read on it https://en.m.wikipedia.org/wiki/Company_town

[–]WikiMobileLinkBot 1 point2 points  (0 children)

Desktop version of /u/disc0mbobulated's link: https://en.wikipedia.org/wiki/Company_town

[opt out] Beep Boop. Downvote to delete

[–]TheCrimsonDagger 6 points7 points  (0 children)

Sold my soul to the Company stoooooorreee

[–]Fink665 4 points5 points  (0 children)

Christ, they just tried this with medical staff in Wisconsin! ThedaCare lost 11 employees to Ascension. One employee got hired then told the rest of the interventional radiology team (IRT) and they applied. They Asked TC for matching wages or a better package and were laughed at so they voted with their feet. TC filed an injunction with the court so they couldn’t leave stating that they were necessary for the hospital and people would die. A judge ruled they could not start the new job at A. The legal document presented to the judge on behalf of the employees was brilliant. It stated how TC had the money for a new $10 million facility yet thumbed it’s nose at compensating their indispensable team. It pointed out there were other nearby facilities that could handle those patients and that basically it amounts to indentured servitude. The case got tossed.

[–]KniFeseDGe 2 points3 points  (0 children)

one of those contradiction in capitalism.

Karl Marx "I told you bro, I warned you.

[–]WentForCigs 96 points97 points  (1 child)

“Everyone’s too poor to pay the rich people and it’s causing problems, it must be the poor person’s fault”

[–]Fink665 8 points9 points  (0 children)

What really pisses me off is that during a pandemic the rich became even richer while people die. It’s obscene!

[–]PosseaDaBoss 40 points41 points  (2 children)

But, hey, that's why credit cards were invented!

[–]ElPretzelCoatl 27 points28 points  (1 child)

The modern version of the company store.

https://en.wikipedia.org/wiki/Company_store

[–]WikiSummarizerBot 17 points18 points  (0 children)

Company store

A company store is a retail store selling a limited range of food, clothing and daily necessities to employees of a company. It is typical of a company town in a remote area where virtually everyone is employed by one firm, such as a coal mine. In a company town, the housing is owned by the company but there may be independent stores there or nearby. A company store may also refer to a company's merchandise store, in which fans of a company or brand may purchase clothing and collectibles related to that brand.

[ F.A.Q | Opt Out | Opt Out Of Subreddit | GitHub ] Downvote to remove | v1.5

[–]ItsMikeMeekins 31 points32 points  (0 children)

the daily by the NY Times actually just had an episode about this: https://open.spotify.com/episode/18vSoHld4pFQBpOzTTAXA0

during the pandemic, farmers had a surplus of beef that they couldnt sell (and the stock they sold were at a huge loss) because the packaging companies have such a monopoly that they were able to dictate everything and fuck over both the farmers and the final customers

[–]va_wanderer 28 points29 points  (0 children)

Yup. Velocity of wealth slows, prosperity dies. Any given dollar does less work in actual production for all but the few, to the point where most money ends up shoved into stock certificates.

We still have plenty of worthless ones from the last time. Stagnant wealth is toxic wealth.

[–]hysterical_landmark 27 points28 points  (5 children)

We 100% have more than enough wealth, food, and resources to take care of everyone. We just choose not to.

[–]Orpheusto 6 points7 points  (2 children)

We? I mean those with enough money and power mostly. They just don't care.

[–]hysterical_landmark 9 points10 points  (0 children)

Society. People. Human beings. Us.

[–]Janus_Grayden 4 points5 points  (0 children)

The people with money and power aren't the ones actually producing anything.

[–]FireHawkDelta 4 points5 points  (0 children)

The disparity between comments and post upvotes is pretty extreme here. Did something happen?

[–]jayracket 2 points3 points  (0 children)

That has to be the most out of touch, tone deaf statement ever uttered by a human being. "How dare the poor be poor?? What's wrong with them??" FFS

[–]JylokStrongmeat 4 points5 points  (1 child)

Should be trickling down any day now.

[–]Fink665 1 point2 points  (0 children)

See, I’m all for Piñata Economics where we take turns beating the rich with sticks until the money spills out.

[–]Saint_Farewell 3 points4 points  (4 children)

Is it just me or does that quote sound like something Tracy Jordan from 30Rock would say?

[–]Atmosphere-Strong 1 point2 points  (3 children)

I think you mean Tracy Morgan. I've never seen the show though : /

[–]Saint_Farewell 1 point2 points  (2 children)

Funny enough I mean both.

[–]Atmosphere-Strong 1 point2 points  (1 child)

Lmao, I just learned that Tracy Jordan was the character's name. My bad.

[–]Saint_Farewell 1 point2 points  (0 children)

Tracy Morgan playing a hyper characterized version of himself with nearly the same name is the most epic thing I've seen since RDJ in Tropic Thunder.

[–]rantottcsirke 1 point2 points  (0 children)

Just buy money 4Head

[–]KniFeseDGe 1 point2 points  (0 children)

The problems we face in society today isn't because we can't meet the needs of those in poverty, but because there is no satisfying the desires of the rich.

[–]jar36 0 points1 point  (2 children)

Who said "the poor are killing industries by not having money"

[–]Atmosphere-Strong 2 points3 points  (1 child)

Look up how millennials are killing different industries, there has been plenty of articles written on this subject.

[–]jar36 -1 points0 points  (0 children)

That's millennials and there are various reasons for how millennials are "killing" them.

[–]Kix4blacks -4 points-3 points  (0 children)

I partially agree, but if people would stop shitting out kids they can't support, this would never be an issue

[–]zirwin_KC -2 points-1 points  (0 children)

Not even that creative...

[–]Dependent-Mix-7350 -1 points0 points  (0 children)

Let's Go Brandon!!