This has the same math as what the mortgage “crisis” did to cause the Great Recession. It astounds me that nobody of reasonable competence and responsibility is doing this math! Even the damn Democrats are celebrating companies like Uber and AirBnB as innovative, grit, etc, etc instead of the predatory and parasitic monsters they are. A calculator that can do this basic math can be bought at Amazon for under $10.00 (another issue we can go on about…)
We are in for one hell of a world of hurt in 5–10 years. Imagine the Millennial Generation experiencing TWO MAJOR RECESSIONS before most of them hit 40 yrs old. What scares me most about that is based on the vitriol and blame they fling at the Boomer generation for the 2008 Great Recession (read Holly Wood here on Medium if you don’t already… I don’t want to link to her.. I’m the wrong age and gender… I’d rather she ignore me, even as I agree with a lot of her observations, not the conclusions) there will be full-on ageism rage and riot in the next one; most of it misplaced but if the 1%-ers can pit us against each other, they will be safe. That is the game they know how to play well.
This will not end well and I don’t think we can reverse it. The ACA and TARP protected banks and insurance companies, not the people. We all paid the first time around with our tax money, then again in reduced income/house equity and again in increased premiums/fees/service loss. There won’t be anything left in the coffer for the next recession. It will be bad.