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> Not really; there isn't the irrational exuberance that the dot com, housing, or bitcoin bubbles had > There's definitely been an increase in government spendi
by rubiquity 8y ago
> Not really; there isn't the irrational exuberance that the dot com, housing, or bitcoin bubbles had
> There's definitely been an increase in government spending.
Perhaps the government spending is the irrational exuberance this time.
- pas 8y agoYes and no. The problem is that more and more people are dependent on gov transfers for part (or whole) of their income. ( https://fred.stlouisfed.org/graph/fredgraph.png?g=q5u https://fred.stlouisfed.org/graph/fredgraph.png?g=q5u ) Whereas growth benefits mostly the wealthy. ( https://fred.stlouisfed.org/graph/fredgraph.png?g=q5v https://fred.stlouisfed.org/graph/fredgraph.png?g=q5v ) And gov spending is less and less "productive", education spending is not increasing, whereas spending in simply population sustainment does.