Damn dude, anyone who thinks the bildabergs are not running your life is just a guppy.
https://theintercept.com/2022/07/29/...ditions-worse/
Quote:
BANK OF AMERICA MEMO, REVEALED: “WE HOPE” CONDITIONS FOR AMERICAN WORKERS WILL GET WORSE
The financial behemoth privately fears that regular people have too much leverage.
A BANK OF AMERICA executive stated that “we hope” working Americans will lose leverage in the labor market in a recent private memo obtained by The Intercept. Making predictions for clients about the U.S. economy over the next several years, the memo also noted that changes in the percentage of Americans seeking jobs “should help push up the unemployment rate.”
The memo comes amid a push by the Federal Reserve to “cool down” the economy, informed by much of the same rationale — that high wages are driving inflation. This year, the Fed has increased interest rates for the first time since 2018. Historically, this has often caused recessions, and that is exactly what appears to be happening now.
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It makes sense from their perspective because they make their money when people don't have enough money to pay for things outright.
If folks were paid enough and bought a house in cash, the bank is nowhere to be found in that deal.
If they're not paid enough, they have to put a down payment and get a loan. Now they're am paying the bank more than double what that property was worth over 30 years. You have effectively become an asset for the bank. The loan can also be bought and sold to other banks/investors as a security.