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There was a TechCrunch article 2 years ago that lays out a convincing argument that something/someone started siphoning value out of the US financial markets--t
by TimTheTinker 8y ago
There was a TechCrunch article 2 years ago that lays out a convincing argument that something/someone started siphoning value out of the US financial markets--thus driving up prices for everything--sometime in the last 50 years. It asks "Why so costly in the US?" but doesn't have any definite answers. Link here: https://techcrunch.com/2017/07/09/why-so-costly/ https://techcrunch.com/2017/07/09/why-so-costly/
I think TA offers some really good answers, all centering around market deregulation beginning under Reagan in the early 1980s. Suddenly, corporations had a lot more tools at their disposal to siphon off their value towards shareholders and manipulate the market in the process.
... Which leaves me wondering, how long can the current bull market last in the US if it's draining US corporations of their value?
- pjc50 8y agoRe: "why so costly", the answer as to what phenomenon affects the US and UK but not other western countries. It pretty much has to be neoliberal/Reagan/Thatcherism; in particular, the suppression of wage growth through anti-union measures and excessive privatisation. Arguments around "drained value" would have to say where the value is being to; real estate?