Researchers at the University of Alberta in Canada and Georgetown University in the US found that neighbours of lottery winners have a higher probability of bankruptcy owing to increased conspicuous consumption, financial risk taking and borrowing.

    “Using lottery winnings as plausibly exogenous variations in the relative income of peers, we find that the dollar magnitude of a lottery win of one neighbor increases subsequent borrowing and bankruptcies among other neighbors,” a paper detailing the research states.



snoodog:

This will be the 2020 financial stimulus plan. One person per block will be chosen for a large cash infusions and everyone else will spend into oblivion


posted by francopoli: 77 days ago