Two articles coincide into a disappointing conclusion. The casino markets will lure a chunk of the stimulus money into bad investments.
Buy Now Pay Later (BNPL) is the new form of credit used by 1 in 3 US consumers, and growing at 40% per year. It’s the new payday loan business.
This report explains what BNPL is, who uses it, how much it grows, and what this business really is about. The review asks questions to ponder about this new funding business.
That will not be to everybody’s taste…
A study from the London School of Economics of 18 OECD countries over the last 50 years confirms that reducing taxes only impacts those directly touched by the tax, and has no benefit to anyone else. Tax cuts increase inequality with no impact on economic growth and unemployment.
Simple and interesting reading. Imagine we all started in life with the same wealth and randomly generated profits by trading with each other. The first winners benefit from diversification, and tend to increase their wealth.
=> A fair economy naturally converges towards an unequal society.
In other words, even with equal skills and no inheritance, some of us will become the 1%. By pure luck.
That would have been a touchy Thanksgiving topic…