Americans have mainly eschewed smart money for index funds, so you have a few fund managers deciding where the money should go, controlling maybe about 70% of t

Americans have mainly eschewed smart money for index funds, so you have a few fund managers deciding where the money should go, controlling maybe about 70% of the stock market money. Our infrastructure is basically at a standstill still where we throw lots of money at things for not very much results. Our tech investments still make lots of money and progress, but trump is trying to turn us from a high value tech economy into a lower value assembly economy, which is just way too dumb as it’s rhetoric opposite direction of what China is doing. China is very different with its own successes and problems. It’s stock market still has way too much insider trading for it to be very useful for capital allocation, infrastructure is mostly government driven with the veil of private investment who bets are always going to made whole, and a property market that basically mimics Japan of the 1980s heading into the 1990s. Private investment in manufacturing and tech is where most of its success is at.