alt Hacker News> Ultimately, the new homeowners were also borrowers and paid portions of their yearly income as interest on long-term mortgages
The United States does similar and we also have a nice twist on the concept. We have $38,000,000,000,000 in national debt which increased $2,500,000,000,000 in 2025. Which is like $111,764 per citizen with ~$3,000 in interest payments a year each, all going to a handful of families (and Japan) who hold most the debt as an investment.
The US government borrowed the money, gave the money back to people the government borrowed it from in form of kickback contracts, subsidies to oil companies and farmers who vote for the politicians who increased the debt by $2,500,000,000,000 in 2025, and every citizen is responsible for paying the interest on it.
As an American, all of this is insane to me.
The solution can be quite simple when you consider money created as debt. The ever increasing private wealth must be proportional to the ever increasing debt, of which governments hold the most of. Its simple imbalance, the ~3000 bucks annual interest doesnt have to be the problem of the many, because their wealth wasnt increasing proportionally.