I've been watching YouTube again. Always a bad sign...
One thing I hate about videos that purport to tell the world some of the bad things that are going on is that they go and perpetuate those same bad things. This video started by showing luxurious cars and talking about how they are still making them when the rest of us are in the middle of an economic mess. The video never says what the cause or the cure for that mess is.
The cause has usually been 'get rich quick' schemers trying to soak the middle class, but this time I'm not sure that's all there is to it. The important thing is the cure. People need to save money instead of just spending it.
Obviously, the rich have more money to invest, so they are going to invest more of their money than anyone else, as a percentage of their wealth. The solution is for everyone to save more. When I worked at a local thrift shop, run by a church, that offered career training, I noticed a lot of the stuff we received as donations was junk made in China. I distinctly remember an entire box of nutcrackers where every one of them had part broken off. We had no facilities for fabricating new parts so when things like that came in we just threw them away. This stuff wasn't very old and it was already falling apart. Why did people buy this junk? They could have saved a lot of money, literally saved it, by buying stocks and bonds. Read more about my ideas on investing to create jobs on this blog. The post is called The Purpose of Money, Investment Capital. I just typed that whole phrase into Google and it was the first thing that came up. Till then, here's a link to the offending video:
How The Rich Keep Getting Richer: http://youtu.be/3DT-DTQke58
