it does exist and sustain in many nations in the world. I would posit that is the normal state of humanity and the “socialist” countries we abhor for being socialist but also envy for their standard of living are unsustainable.
I'm not sure if sustain is the right word. It may be the norm the past 10 years or so, but to me this just means a bloated system that is about to fail. If someone making $10 can afford food and shelter, then perhaps it's no problem if many make $50 per hour. But we are at the point where even a $150k salary doesn't get you into property ownership. So I see it as a demolition in slow motion. The bottom don't even want to work and rely on the government. The middle are barely scraping by, and the top will not enjoy too much luxury when there is chaos all around them. I think this probably takes decades to play out from beginning to end, but the first 20 years have already played out, so just a bit more to go. I saw just this today.
It’s not about what the poor can afford. Humanity has had severe income inequality since civilization began. Any notion of equality happened post ww2. 150k doesn’t get you anything in Manhattan but many other locales it’s a better than good salary.
The daily destruction by this bear market/recession (yeah, the same recession politics tells us we are not really having), is awesome! Some of my favourite REITs are now above 9% dividend yield. THIS, is the main reason I think I will shift from buying more crypto, into going full-retard on REITs for a while (like many months). Even the REIT ETFs are looking like a good bargain now for those who don't want to do the research to pick & choose individual securities.