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> I believe in markets and capitalism, but it's hard for me to see these changes and not sympathize with the new wave socialists in the US. What's happening is
by gridlockd 7y ago
> I believe in markets and capitalism, but it's hard for me to see these changes and not sympathize with the new wave socialists in the US.
What's happening isn't due to capitalism. It's all symptoms of monetary policy. Prices for real estate are driven up by cheap money, not just PE. Then, when the bubble pops, everyone gets a bailout by the nanny state. If the market shows sign of weakness, no more interest rate hikes. Risk has been eliminated.
The party has to go on at all costs, because if interest rates normalize, asset prices will tank, debt will become unservicable, mortgages will default, 401Ks will be wiped out...