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228 sats \ 1 reply \ @sb 24 Jul 2022 \ on: WSJ Opinion | The High Cost of Free Money bitcoin
The study they describe in the article is astounding. They assigned a few thousand people each to a cash condition (economic handouts of $500 or $2000) and a control condition (no economic handout).
Quote: "Handout recipients fared worse on most survey outcomes. They reported less earned income and liquidity, lower work performance and satisfaction, more financial stress, sleep quality and physical health, and higher levels of loneliness and anxiety than the control group. "
That's absolutely bonkers. Free money with no strings attached is purely debilitating to the population.
It's amazing but it does not surprise me.
Something like 1/4 of people earning 250k a year are living paycheck to paycheck (so called HENRYs).
Saying that millenials are wasting everything on "Starbucks and Avocados" has become kind of a punchline. But in my personal experience there absolutely is a correlation between more left leaning friends and earning 50k a year but having nothing in savings/investments and blowing it all.
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