How are they good? They literally helped my competitors to out-compete me using free money from a money printer. I had to work hard for my money to buy stuff from the same markets; whose prices they drove up using free money.
If you factor out ignorance, it's as evil as it gets.
And yes, if you're living paycheck-to-paycheck, you are competing in the market against homeless people for limited goods. That's the modern reality. Most people are precariously close to being homeless.
If the rich started donating a lot of money to all the homeless people, I'd probably become homeless myself because rents for low-cost accommodation would go up because of all the free money flooding that market...
Then surprise, surprise, when it'd be my turn to get my free money, rich people wouldn't have any money left to spare for me because the problem would have become too large by then due to perverse incentives they would have created.
The whole system is in a controlled demolition; concentrating more and more and creating increasingly perverse incentives. Why bother creating value, when there is an easier way to get money by convincing rich people to 'select' you?
If you factor out ignorance, it's as evil as it gets.
And yes, if you're living paycheck-to-paycheck, you are competing in the market against homeless people for limited goods. That's the modern reality. Most people are precariously close to being homeless.
If the rich started donating a lot of money to all the homeless people, I'd probably become homeless myself because rents for low-cost accommodation would go up because of all the free money flooding that market...
Then surprise, surprise, when it'd be my turn to get my free money, rich people wouldn't have any money left to spare for me because the problem would have become too large by then due to perverse incentives they would have created.
The whole system is in a controlled demolition; concentrating more and more and creating increasingly perverse incentives. Why bother creating value, when there is an easier way to get money by convincing rich people to 'select' you?