The Wealth Gap, Explained: Why the Rich Keep Getting Richer While Everyone Else Struggles
At the end of Friday’s episode, one of our listeners sent us a Superchat on YouTube. We didn’t have time to answer it then, so that’s the first thing on the docket today.
It was a good question. He hates his current job and wants to work for himself as a creative. But he doesn’t know where to start, and he’s struggling with his mindset.
I’m sure that many of you can certainly relate.
Wealthy, successful people run the world. The media and politicians (I repeat myself) will tell you that it’s someone else’s fault if you don’t have the wealth or success that you want. And that’s just nonsense.
Now, to be clear: that doesn’t mean there aren’t bad actors who hurt other people.
In fact, our entire financial system is set up to benefit those who already have money. You’ll see no greater evidence of this than the fact that the stock market continues to climb as we set new record highs in unemployment.
We have an article in the stack today that was posted by Zero Hedge. A guy named Lance Roberts wrote it originally.
He points out that all three Quantitative Easing programs of the last 12 years–more than $33 TRILLION in total stimulus–have resulted in just 5.48% of real economic growth. Why is that?
In his words: “Low, to zero, interest rates have incentivized non-productive debt, and exacerbated the wealth gap. The massive increases in debt has actually harmed growth by diverting consumptive spending to debt service.”
If that doesn’t make total sense to you, don’t worry. That’s what today’s show is for. We’ll explain in detail.
Here’s the point, in a nutshell.
Every human system is skewed to the benefit of the wealthy and powerful. When you’re rich, life is easier. Once you have money, it’s easier to make more money.
But here’s the good news: it’s never been easier to make money. We live in the greatest time in human history.
If you don’t currently have the life you want, it’s because you haven’t yet become the person who deserves it. If you spend your life blaming other people for the life you have, you’ll never get it.
“It’s my fault. Winners win. Be better.” These are the mantras of this show.
Start embracing them today, and watch your life begin to change.