Comments by "Trazyn" (@Trazynn) on "Joe Rogan u0026 Sam Harris on Universal Basic Income" video.

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  13. You're right in that a giant con is being played here, bear with me for a few sentences: It worked up to the 80's because the median income then grew in lockstep with the GDP as well as the economic productivity. From the 80's onward the GDP kept growing but the median income as well as economic productivity started faltering. A nation can't prosper for long when it's median income declines. People can no longer take care of themselves, become costly burdens, while at the same time they can no longer participate as consumers in a market that relies on them. That's when economic growth starts to strain. Now, the current (supply-side) solution to the lack of this circulation is quantitative easing. Banks taking out loans without the need for collateral, IE, money pushed into the economy top-down without being backed by real value but still taking interest on it, that's your illegitimate siphons and I agree that it needs to end fast or we're in deep problem. And we're already seeing this solution doesn't work. Banks don't invest long-term, they just keep on buying their own stock and acquiring more real estate without any real risk. I agree that this centralized system is a racket. It's also exactly what UBI would counter. If you route our economy's revenue straight through the bottom it disperses into the 'real economy' not the one that only exists on paper in stock indexes and plot registers. That's where the growth really takes off, and with the incredibly low point of entry for technology and small enterprises that growth is going to be bigger than anything we've ever seen.
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