r/PeterExplainsTheJoke • u/Melodic_Judge_129 • 8h ago

Meme needing explanation Petah?

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u/[deleted] 8h ago edited 7h ago

[deleted]

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u/Own_Policy8854 8h ago

We could redistribute wealth to prevent it from pooling and creating economic disasters in the first place.

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u/urbanlife78 7h ago

We can't do that to the poor billionaires

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u/ActBest217 7h ago

Believe me, if there's an actual deflation, they'll all of a sudden stop being billionaires (companies not able to sell, revenues and stocks going down) and there won't be much to redistribute

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u/urbanlife78 5h ago

I'm sure they know how to profit from this happening

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u/RoughRealistic4321 5h ago

I don't really see that part being horrible?

The bigger problem is the current debt of the "everyone except the 1%".

With deflation, cash and savings become king, and debt becomes unmanageable, (setting off a lot of bankruptcies, which then cascade...).

And people have been encouraged to take on debt because debt makes sense during times of inflation, since debt today should be cheaper to pay off tomorrow, provided the numbers all around go up - In a way, inflation works as a sort of debt depreciation.

The problem is costs have gone up drastically faster than wages, so taking on debt is less a matter of expansion of the economy and growth, and more of a matter of day to day survival.....