Wealth inequality risks triggering 'societal collapse' within next decade, report finds

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The participants identified a negative feedback loop, whereby the government’s failure to tax wealth effectively means it lacks sufficient revenue to uphold the social contract by which strong public services, an effective social safety net and a healthy economy provide people with decent living standards.

Trust in politics then declines further, politicians avoid honest discussions of the underlying problems and what to do about them, and the system’s legitimacy is increasingly questioned as the social contract collapses.

That's a nice story, but there's been plenty of even less egalitarian societies. Pretty much all of the ones in written history, actually.

More likely, in the short term a new, more coercive "social contract" will be rotated in if the trend continues. Heck, we're already seeing fealty to avoid personal retaliation back in style in the US.

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How is a wealth tax violence?

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You know, revolution is not the same as collapse.

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What about the world economic inequality?

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By the way, Trump wonders if Americans will let him treat them like this and continues to do "his business"

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The ownership class reading this: “…the training wheels are coming off, boys. It’s time we really kick this thing into high gear. We’re running out of time. Get your affairs in order—and by that I mean pick which if your mistresses will be your concubines on your floating golden fortress.”

“Understood.”

The group: “‘we’re the fuckin worst’ on three—one, two, three!

All:

“WE’RE THE FUCKING WORST!”

Generic white guy #1: “Alright, good hustle. Now go out there and fuckin murder some lower class people! This death machine ain’t gonna run itself! lol obviously im kidding, we were born into a machine that already runs itself and we were just the dumb lucky bastards born into the positions we’re in. But we deserve it!

Generic white guy #12: woah, Tom, you thought a little too much there. I’m afraid…we’re gonna have to take away the “#1” from your position. We worked hard to get where we are today! Don’t you EVER suggest there is an inherent flaw in a hierarchical system! You will be punished severely for even MAKING a reference to some FAKE injustice in our system! You are now #4. Other Tom, congratulations, now you’re #1. You must be very proud to hold this position.

Previously Generic white guy #4: this is an honor. I deserve this.

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It is for the rich.

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$1Trillion dollars wiped off the stock market? NBD, just push the AI more, so we can be free from the labour(ers). So cooked.

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Well, this has been known for decades, the Club or Rome's report (Limits of Growth) predicted this in the 1970s. Here's a graphic from 2004:

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Few people are just going to sit and starve. They will steal food directly or turn to other crimes to get money to buy food.

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UBW -- universal basic work. Jobs for everyone who wants them.

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i guess this depends on whether you see yourself as a person who deserves basic goods, or if you see yourself as a workforce who needs to be told what to do to be happy.

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I can think of so many jobs that we don't have because they make no money, but that would better society as a whole. There should be no reason we can't... do that.

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I got news for you. We can already store food for dozens of years, if not a hundred in mylar bags with O2 absorbers. With enough money you could store enough food for you, security, families, and all supplies to repair and maintain an underground bunker for a lifetime, easily.

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It's better for people to feel productive and accomplished than to sit around doing nothing.

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I don't think we're going to fix things in any meaningful way. I think we're watching a big collapse. Not the end of humanity like some want to predict, but very rough times ahead.

I am with you that we should help each other out, and there's ways to do that. We can feed and shelter people now, and we should, but much more than that becomes infeasible quickly. And I think it will become even less feasible as things get worse.

I think what the other person was saying is... If there's a way to fix things, to make things better or at least lessen the harm, it's going to take a lot of people doing a lot of things. Things that aren't always profitable right away, but pay off later. Better public transit systems, more renewable energy, huge programs replacing the old but crucial infrastructure that brings us clean drinking water, turning useless land into productive fields, and so much more. If we had the political will, we could offer everyone the ability to work on these programs and in return have a better quality of life, while also building a better future.

And to be clear, this isn't all manual labor. Probably most of it isn't really manual labor. It's math, it's planning, it's machine operation, it's coordinating and transporting, it's organizing and communicating. To solve our problems will require a lot of people with a lot of skills, and if we can encourage the right people to be in the right place, we could solve so many problems and make so many things better.

We won't, though. But we could.

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For them it is catastrophic collapse of the stonk market and economy with trillions of wealth evaporating overnight.

For us, it is Tuesday.

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It's hard to imagine, but modern inequality is actually very extreme in historical context

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That money is just somewhere else.

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Wealth inequality risks triggering 'societal collapse' within next decade, report finds

“WE’RE THE FUCKING WORST!”