this post was submitted on 27 Mar 2025
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I saw a scientist say that the tipping point was almost a decade earlier, exactly when the banks started giving loans to everyone, that was the start of the death of the American dream. (I think it was 1983 but I honestly don't remember)
Basically his argument was that before then, the increase in economy had been split between the owners and the workers both earning more at equal pace. But when loans started to be given freely to workers their income stagnated while the owners accelerated. It's taken quote a few years before it was noticable, so in that regard you're not working though ;)
Note: English is not my native tongue, and while I do think I'm proficient, there's some phrasings I think is not quite right, but I can't quite find better alternatives, so bear with me.