In a recent video titled 'The Essentiality of Poor People,' a man employs sarcasm to explain how the economy relies on the desperation and hunger of poor people to keep running.
The significance of poor people
Starting the video, the man emphasizes the significance of poor people in the economy, arguing that they’re reliable consumers because they have no choice but to pay current prices for essential items.
Wonderful for the economy
Illustration. Image credit: Shutterstock
He explains that “poor people are wonderful” for the economy since their “desperate” situations prevent them from waiting or saving money.
“And if you're really lucky, a poor person will spend years trying to pay off the interest of that loan, instead of the value of that loan.”
Exorbitant interest rates
Illustration. Image credit: Shutterstock
He also notes that they’re forced to pay exorbitant interest rates on loans due to their lack of savings or collateral to offset their debt, adding that this is advantageous for the economy because the money paid back goes directly to big businesses and governments, with the added benefit of generating significant wages for bank employees.
Too many rich people in society can cause problems
According to his argument, too many rich people in society can cause problems for the economy since they’re “more than happy” to wait and not buy stuff immediately or take out lines of credit.
“They already have the wealth, there are no rich desperate people,” he claims.
Desperation and hunger
He further adds that a lack of desperation and hunger is not ideal for the economy, which relies on both to sustain itself.
“If you want a good economy, lots of poor people is the way to go.”
Running a successful economy, he suggests, involves discouraging investment in an educational system that teaches money management, and instead, encouraging regular people to accumulate significant debt to purchase necessities like housing or education.
He also explains how spending a lot of money on healthcare is a terrible idea for the economy, as poor people cannot afford it and tend to fall sick more often.
Matching wages with inflation is not ideal for the economy
“You wanna keep people who are earning minimum wage as poor as humanly possible, but still have just enough money to survive and to go to work.” he says.
This way, the poor will stay trapped in a debt spiral that benefits economic prosperity.
Debt-free, happy, wealthy, and healthy people
“You don't want an economy of debt-free, happy, wealthy, and healthy people,” he continues, saying that is not a good approach because it’s hard to convince already happy and wealthy people that they’re unhappy and need to buy products that are funded through a market system.
He ends the video with the statement, “The critical aspect to an economy is making sure poor people stay f...ing poor.”
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Sylvia Silverstone is a passionate writer who loves to share her knowledge and expertise on a wide range of topics, including beauty, life hacks, entertainment, health, news, and money. With a keen eye for detail and a talent for storytelling, Sylvia's engaging writing style keeps readers coming back for more.