The Rich Get Richer While the Poor Get Poorer

Automatic TRANSCRIPT

Producer Connor for example. Producer Connor is going to be our test case. I think did I mention this on air before? Maybe I did. So producer Connor got poorer this last year. Now he's going to use this as an advocating for a race, but I'll bring that, that's a separate conversation. How did producer Connor get poorer? Producer Connor what your mid 20s, right? Mid 20s works hard gets in early does a great job. He's 25. So he's right there. He is right on the chart. Andrew says we actually gave him a raise. Okay, it was an inflation adjusted race. But here's what's important. Listen, producer Connor got poorer. His rent went up by $600 a month. Is that correct, Connor? $600 a month. That means he has to pay 600 extra dollars a month, $7200 a year to live in the same place that he lived last year. So in order to just tread water in order for Connor just to stay the same, he has to earn an extra $600 a month just to break even. Whereas I have a mortgage. And my mortgage rate is fixed. And that doesn't go up. So I borrowed my mortgages can make a lot of sense, makes really conservative. Money. And therefore I become I'm fit in and it doesn't change mortgage payments, you could have a fixed rate, you could have a floating rate, but most are fixed. I actually am getting richer. The value of my home goes up, my payment stays the same, which actually goes down because the currencies inflated. So Connor the renter gets poorer, Charlie, the owner gets richer. I'm not trying to rub it in your face Conor. I'm just using you as an example. It's true. Your rulers betrayed you.

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