Boomers often cite the 1970s inflation spike as a terrible time, but the wage inflation eroded their debt, leaving them with high disposable income and the ability to refuse to work if not sufficiently compensated.
The establishment have not made the same mistake again. When you have people in perpetual debt you have them under perpetual control.
Credit can be created at will, but if you accidentally let financial independence break out, it's not easy to put back in the bottle. You have to wait for the next generation.
The establishment have not made the same mistake again. When you have people in perpetual debt you have them under perpetual control.
Credit can be created at will, but if you accidentally let financial independence break out, it's not easy to put back in the bottle. You have to wait for the next generation.