Income inequality doesn't matter as much as you think

Fixating on income inequality is missing the forest for the trees when it comes to structural inequities in economics. What you really want to get at is asset inequality.

Monetary authorities (central banks) around the world have lowered their interest rate targeting and created massive asset bubbles: in real estate, equities, and other financial instruments. The rewards have gone disproportionately to those who are already extremely wealthy, many of whom will benefit from capital gains exemptions.

This was a deliberate, backdoor strategy to induce "trickle-down" economics -- saving the current financial system means saving its owners and beneficiaries. Retail investors might make a trickle of their savings. Any large-scale investor is reaping enough profit to put themselves on the Forbes list.

Capitalism isn't a system meant to induce work. It is a system meant for those who can cleverly avoid it. There is no inherent fairness in the level of wages being given out because wages are inherently not meant to be fair.

People ask me sometimes what job is automation-proof and I always reply the same way: capital-holder. And until the current version of capitalism outlives its usefulness, the answer will remain the same.