When Henry Ford built cars, he knew that the people making his cars were also buying his cars. That mantra was thrown out in the 80s. The new mantra was "make sure the people making the stuff are poorer than the people buying the stuff, and you [shareholders and executives] can pocket the extra profit margin."
The flaw in this theory is obvious: Eventually you run out of poor people willing to build things they themselves cannot afford to buy, and since the buyers of your stuff no longer have jobs, they're no longer buyers either.
And that's where we are today. It sucks, but a lot of wealthy people made a lot of money on the float while it lasted.
The flaw in this theory is obvious: Eventually you run out of poor people willing to build things they themselves cannot afford to buy, and since the buyers of your stuff no longer have jobs, they're no longer buyers either.
And that's where we are today. It sucks, but a lot of wealthy people made a lot of money on the float while it lasted.