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this post was submitted on 07 Nov 2023
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It doesn't make that claim. It's just that if you were wealthy between 2020 and now you can more easily navigate the price hikes by refinancing during the housing boom, sellings off assets, and shifting investments around.
But people in lower incomes don't even have assets/savings to fall back on so they just lose harder when the prices hike.
Actually they are saying that if you were wealthy then you spin that wealth to increase your wealth. Whether that is drastically increasing profits. Using your connections to get free PPP money from the government. Etcetera...
We did not all lose something during Covid. The richest among us got a lot richer, and they continue to do so.
We are not in this boat together.
Boats are expensive!
We're all pushed into the water that then raises the tide for the rich in those boats...
Yea that's what I mean. Those who were wealthy had the means to leverage the situation and at worst maintain. Everyone else sank lower.