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June
26
2021

How to Destroy the Middle Class in One Easy Step
Taps Coogan

Are you an evil mastermind solely focused on the destruction of the American middle class? If so, here is an easy one-step plan for you.

Step One: Hold the savings deposit rate below the inflation rate in perpetuity. 

That’s it.

Now sit back and watch as a hundred million of Americans, people who cannot afford to sit through the volatility inherent in higher yielding assets like stocks or don’t want to buy into the biggest financial bubble in a hundred years, find it impossible to build real savings. At the same time, the prices of essential goods and services will grind higher, crushing the dreams of home ownership and financial independence for millions. The wealth divide will spiral out of control, people and companies will be heavily incentivized to borrow instead of save, and people will lose faith in free markets because they won’t really exist.

The best part is that once you have succeeded in holding overnight rates below the inflation rate for just a few years, nobody will dare to resist the continuation of your diabolical plan. The economy will have become so chronically overindebted and weakened as a result of your scheme that any attempt to reverse course and deleverage will cause a painful recession that all will oppose. There will be, quite literally, no escape.

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-Taps Coogan

 

 

 

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