When the country goes bankrupt you will see that the rich will stay rich while the poor die in hunger.
We have experienced in the east a forced wealth reset, it ended as the history books say, all poor except for a few , even fewer than right now in the US.
Careful what you wish for!
There is difference between individual bankruptcy and a country bankruptcy, it will be much easier for individual to turn all their valuable into something else, it would be extremely difficult for a country to turn all their wealth around. And the same goes for the very rich people, they couldn't liquidate all their wealth easily in the event of a country bankruptcy. The rich may stay rich, but that won't be enough wealth for their next 20 generation.
Because you don't only need to work hard. You also need to work smart.
If you really want to cripple a country you need to attack their food supply.
For a long time, lending to the economy has had a positive effect on the economic growth of countries. So it was in the 90s and 2000s. Lending to the economy is a really good incentive for economic growth, but you need to be very careful with it. Since human greed has no boundaries, many companies, governments and countries have taken loans without really thinking about how they will have to repay debts. The main problem is that everyone thinks that the growth of the economy will continue all the time. No one thinks that something can go beyond the script. For 20 years, almost all countries of the world have been so indebted that they will soon not be able to repay these debts. And many of the countries have already faced up with this problem.
The lending system is a fraud too, it only enrich the already wealthy family, because the bank won't approve loan for a poor people, bank want to make sure you have a lot of collateral asset to get a loan, the rich get all the loan in the market, not ony they get all the loan, they also repay none of the loan they take from the bank, and making the debt getting bigger, everyone going to repay the debt created by the rich.
I see so much ideology in this replies here
Especially one about working hard and you will be rich - its quite funny if you would tell this to some poor uneducated person in 3th world country. Actually same goes for United States - it is a country where American dream and social mobility doesn't work anymore so well ( look up book: Price of inequality by Stiglitz
Everyone was once working for retirement, but I don't see much sense in it today, especially to the younger generation, they completely gave up the idea on retirement.
You'll be waiting a long time - the US has the most dynamic economy in the World and the greatest people so realistically it aint ever going to happen.
Im convinced that civilization don't last forever, it doesn't matter how strong a country is, I know many very strong civilizations go into dust too.
