What I wish I knew earlier about our financial system and wealth inequality
And one horrifying statistic you need to know
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…