Loading ...That is one thing they don’t seem to understand. For a consumer that just bought a house, or a government that took on more debt, they BOTH need higher growing salaries to “win”.
The consumers monthly payment gets smaller as his wages climb, and same with gov’t. They need higher wages to clean more tax receipts to make their debt feel smaller. I knew decades ago that wages HAD to go up in EXACT unison to the climbing cost of living.
Good cost indicators to match would be property taxes, newspaper, car prices etc. They ignored the wages, and for one example, they had to increase car loans to 6 years instead of 3 years. And or RENT out cars so the consumer can buy only HALF the car and then give it back, or rent another. The car renter will never be able to own a car outright or ever be without a payment.
Home loans too. The banks HAD to “pay” people to buy houses, via 105% mortgages. They had no other choice. Nobody had a down payment saved up. Plus the under paid masses could not get afford to get into a rental. Three months up front. Its all welfare. Accommodation for low wages.
You can’t screw a land lord, but you CAN screw a big banking type corporation for humanitarian needs.