What I wish I knew earlier about our financial system and wealth inequality

Scott Debevic
9 min readOct 20, 2021

And one horrifying statistic you need to know

Picture of a person who has skeleton makeup on half of her face.
Picture by Oleg Magni from Pexels.com

There’s one statistic I repeat over and over again. It’s extremely disgusting when you digest it and a bit scary as well. If your stomach is already feeling uneasy, I recommend you go to the next article. If you don’t feel like getting upset and frustrated, I recommend you go to the next article. If you are interested and want to know this nightmare statistic, keep reading.

I never studied finance in school. I took a high school economics class and that was the extent of my formal finance and got a humanities degree in college. After school, I got a job and realized that working sucks. My goal was to make as much money as possible as soon as possible to escape the corporate rat race.

I never hit my financial goal while I was working. I saved, invested, speculated, bought properties, read books to increase my income, worked overtime, gambled, and ended up with a lot of debt. Then, I lost my job during the pandemic.

With all of my newfound free time, I decided to learn more about our financial system. For the life of me, I couldn’t understand how stocks and housing were going up when everyone was stuck at home during a pandemic. Shouldn’t people be saving and shouldn’t commerce be slowing down now that everyone was home?

Of course, I was reading the mainstream financial news up until that point. So I had no formal education and consumed some of the most misleading and confusing content. One article would mention a bubble and the very next article would talk about the buying opportunity of a lifetime.

I ended up learning a lot more from YouTube and researching crypto assets in a couple of months than what I had understood for the previous decades. Gradually, things started making more sense and I had a better grasp of how I interpreted our financial systems and where I fall in it.

The new things that I learned caused me to devote more thought and energy peeling back the layers of truth. Granted, this article and these viewpoints are my truth. Just because I interpret things this way, doesn’t mean that you should or you have to. After all, I am not formally educated in finance and am seated in the middle…

Scott Debevic

My goal is growing wealth and earning passive income. Mainly focused on Bitcoin and crypto. Feel free to contact me at: scottdebevic@gmail.com