• Patches@sh.itjust.works
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    11 months ago

    It’s called debt and yes. People are turning to Credit Cards and Payday Loans to make the bills.

    • havokdj@lemmy.world
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      11 months ago

      Also, wealth does not only come from the amount of assets yoi have, your net income plays a big role in that as well.

      • Patches@sh.itjust.works
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        11 months ago

        It does have a lot to do with total assets though.

        Because at a certain point all assets(capital) generates its own money. It’s the very basis of Capitalism.

        Bill Gates total income didn’t double during COVID. His assets just are worth a lot twice as much. Therefore he now is worth twice as much, and his assets generate twice as much wealth thereby compounding the issue.

    • havokdj@lemmy.world
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      11 months ago

      How can you get a credit card or a loan if you have bad or no credit (aka likely someone who is the poorest of the poor)

      • EdibleFriend@lemmy.world
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        11 months ago

        Go look at places like cashnetusa. They’re the only kind of places that will work with the people you described and they have like 400% interest rates.

        You take out a loan of $1,000 and get trapped for years.