Oscar Mayer heir Chuck Collins on how billionaires are fleecing everyone

[Warpy]

12. Oh, hell, like we all don't already know that

but as of now it has gone so far that I honestly don't see any way ou except resetting the whole disaster via a major crash.

Sadly, it looks like that's just what is approaching. The Shiller ratio is now 40. Just before the 1929 crash, it was 34. Before the 2000 NASDAQ bust, it was 44. It was just above 40 when the bottom fell out in 2008.

One of the things that happens during a major bust is that loans get called in, a lot o loans get called in. We're going to see some of those multi mega super duper billionaire fortunes chopped down to a manageable size, meaning their ability to buy the government will be curtailed for a while. That's when reforms can happen, like a major tax clawback to redistribute the wealth curve into a more rational shape than it is now.

Hell, we might even be able to get Universal Basic Income for workers displaced by IT and robotics. Just make sure the fuckers index it instead of tying it to a fixed dollar amount. The latter is how they killed off most of the stuff that benefited working people, including the minimum wage.