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To me, all these problem and more seem to come straight out of our monetary and fiscal policies. 1. Fed pumping so much money drove up useless asset prices. Wh
by NTDF9 7y ago
To me, all these problem and more seem to come straight out of our monetary and fiscal policies.
1. Fed pumping so much money drove up useless asset prices. Which means people are spending more and more of their income towards paying for expensive assets which are all owned by a fraction of the rich. This rent-seeking is drawing money away from small businesses and small scale production
2. Tax cut on the rich. Now that asset prices are beyond comprehension and people are spending so much money enriching the rich, the least we could've had was tax the rich and recycle into rural infrastructure projects. But no, we gave the rich a tax break, furthering the asset price rise. Even today,most people are just paying more and more towards rent.
The rich have completely bought this country.