Wages for the working are so low there isn't any demand because all of their money is spent on necessities.
The majority of the western world's economic output is collecting rents
The majority of the western world's economic output is collecting rents
What's the hold-up?
You're describing what's been the case for quite some time, it doesn't explain why nothing's been done about it when just about anyone with a brain can see where it's headed.
The hold up is the mass manufacturing of consent by the media oligopoly.
I don't think anyone knows where it's heading. My bet is neo-feudalism
Would love to read more about this, do you have any links?
Watch a YouTube video about 'Capital in the 21st century'
There isn’t any demand, it’s all spent on necessities. So demand for necessities.
Majority of economic output is collect rents. Huh?
Please familiarize yourself with reality. Wages haven't been up in my lifetime. Capital has been beating labor for five decades, and now that there's a slight chance that labor might claw back a small portion of its massive losses, all the temporarily embarrassed billionaires are eager to cry about it.
https://www.census.gov/library/publications/2020/demo/p60-27...
The 2019 real median incomes of White, Black, Asian, and Hispanic households all increased from their 2018 medians [between 5.7% (Blacks) and 10.6% (Asians)] Percentage change in share of aggregate income was highest for the lowest income quintile (+1.8%). High income quintile saw decrease in share of aggregate income (-0.6%)