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#equality #equity #capitalism #wealth inequality #one percent #economic justice #social inequality #economic exploitation #class divide #capitalism critique #systemic inequality #wealth hoarding #social justice #fairness #capitalism vs equality #equity vs equality #economic disparity #power imbalance #corporate greed #exploitation of labor #wealth concentration #capitalism failures #class oppression #socioeconomic inequality #rich vs poor #economic injustice #poverty trap #capitalism and inequality #wealth distribution

#exploitation #oppression #poverty trap #quote #Robert Reich

If there’s one big takeaway about NFTs that you really want to make sure people know, what would that be?

Deflationary economies are a poverty trap that are built to recreate serfdom. That’s what cryptocurrency is built for. If you're constantly hearing people tell you that you're going to regret not getting in early, that's your number one sign that getting in late is a trap. You have to ask: What are the power dynamics of a system like that? What does this look like to somebody who didn't have the option to buy in earlier? What does this look like in five, ten, fifteen years?

You have to think about things in terms of human lifespans. So much of it treats the world as a frictionless, perfectly smooth sphere of uniform density populated entirely by bearded tech bros from San Francisco. It leaves so many holes, and not just local holes for exploitation and fraud. It leaves tremendous pitfalls for long-term, deep inequalities that are far worse versions of what we already have.

#dan olsen #nfts #nft #eliza levinson #Line Goes Up – The Problem with NFTs #bored apes #crypto #cryptocurrency #cryptocoin #poverty trap #deflationary economy

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#Poverty Trap #Poverty #inequality

Bummer. After two months of thinking I was gonna get a full $954/mo in addition to my “regular” social security, now I find out that was only for two months...now they’ve chopped the “disability” part down to the difference between the $954 and my regular SSec. So I’m bummed.

THEY THINK I’M SUPPOSED TO BE ABLE TO LIVE ON $954/MONTH TOTAL.

This whole thing is a poverty trap. So now, I can’t even “make” much more a month before they cut the rest of it. For fuck’s sake. WTF am I supposed to fucking do.

And yeah, I’m a “Generation Jones” tail-end boomer.

Right now, I’m just jonesin’ for fucking stability and dignity and to not be thrown the fuck to the wolves.

Finding this out has set me back so far...I was starting to see a light at the end of the tunnel, but now I don’t...again. GODDAMMIT, CONSTANT RETRAUMATIZATION AROUND MONEY IS GONNA LITERALLY FUCKING KILL ME. How much longer am I supposed to be able to fucking take this shit.

#disability #ssi #poverty trap #social security #generation jones #tail-end boomer #less than a thousand a month? wtf #Seriously.#poverty is not generational #I'm 62 for fuck's sake #weary of this shit

Making low-skill workers more expensive means getting them replaced by automation.

J.D. TUCCILLE | 2.26.2019

“In recent weeks, Illinois mandated a huge increase in the state minimum wage, Pennsylvania's governor proposed to double his state's minimum wage, and New Mexico lawmakers moved forward with a plan to raise the minimum wage there, too. Hiking the cost of labor is a popular cause once again—even among people who've demonstrated in the past that they know perfectly well this is a recipe for limiting opportunity and trapping people in poverty.”

#artificial intelligence #politics #minimum wage #poverty #poverty trap #economics #controversy #robotics #robots

Rhona Cunningham talks about the poverty trap. She says people are struggling on zero hours contracts. They are paid the minimum wage. They struggle to pay high rents for homes in the private sector. The cost of food and travel rises but pay doesn’t. Childcare is expensive. “Every single thing has kind of slowly chipped away at the bricks. They’ve already drained their resources as much as they can. Basically they don’t have anywhere else to go. She says the introduction of policies such as Universal Credit, sanctions and the bedroom tax have caused severe financial problems for families, making them reliant on charities for essentials. “They’ve already drained their resources as much as they can. Basically they don’t have anywhere else to go.”

Billy Briggs, ''There Is No Safety Net': How Austerity Has Hit One Of Scotland's Poorest Communities', Huffington Post

#Huffington Post #Billy Briggs #Rhona Cunningham #poverty trap #zero hours contracts #minimum wage #private sector home rents #cost of food and travel #Childcare #universal credit #sanctions #bedroom tax #financial problems #charities #essentials #Britain #Scotland

Inhumane!

They asked for nothing but respect

to be noticed their voice heard

not spat upon treated as inhumane

by the smartly dressed passersby

the smell of their expensive perfume

sitting in the gutter with no room!

The big cars going by spewing fumes

unable to eat or stay clean

once had their own home and dignity

but loss of work and debt

forced the young family onto the street

the true society did…

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#Beyond #Debt #Dignity #Gutter #Help #Inhumane #Meltdown #Neared #Poverty Trap #Respect #Society #Support

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