The US is now just a more dignified form of USSR-style central planning, one where asset prices are set by decree and a decline in asset levels is prohibited as any crash in markets would result in a depression that would promptly spiral into a social collapse.

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by mark000

Eventually, a populist revolt to address the current massive inequality of income and wealth, will happen. Soon pressure will mount on policymakers to bolster the social safety net and increase things like healthcare and job security and maybe even institute a guaranteed living wage. My only concern is that it will be done in a way that is not productive for long-term growth. These programs will create incentives that will reduce overall productivity, Instead, policymakers should address fundamental reforms in the economy to restore growth and reduce inequality.



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