this post was submitted on 30 Aug 2023
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Every corp knows we're in late stage capitalism. They're not even trying to hide it anymore. Any individual that makes a billion dollars should be viewed as an enemy, even millionaires should be very nervous.
What - you can't even buy a nice two-bedroom condo here for a million dollars, I think you need to re-evaluate what a millionaire is today.
Buying a million dollar house and being a millionaire are two different things. Multi millionaires are part of the problem as well.
I took it to mean people who earn that much per year. The average person working a $30k+ job should have more than a million in the bank at retirement, and that should have been enough to retire on comfortably. Now I'm being told it's more than 1.5-2 million dollars at retirement.
You pretty much need to be a multimillionaire to retire these days and it's not that hard to do with a half decent job and basic retirement planning, especially when factoring in a home to your net worth (which is standard). Millionaires are not the enemy. $1m is 1000x closer to $0 than $1B.
What about us hundredaires?
You have a positive balance? :o
You’ll be given cushy jobs!
You get eaten after the thousandaires
The same late stage capitalism we've been in since the term was coined 175 years ago?
Later in the stage? The term was coined before the stage happened. End of WWI was supposedly the start and I don't think the idea was that it would implode the instance the stage was hit. We got a bit of a bounce back with the tech boom, that's clearly over. Unless another major frontier pops up that isn't immediately sucked dry by the already rich, we're at the end.