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Where did America go wrong? — 2 Comments

  1. Like in all English speaking economies they changed the nature of housing in the early 80s. In the UK and Ireland they sold off the CoCo stock, a good idea in itself, but they didn’t even try to replace it. But the change in tenancy for private meant an ever increasing delusion about the value of housing. And has lead directly to the boom and burst cycles over the last 35 years where those with capital taking profits coming and going.
    Of course it would’ve really helped us if our maths education amounted to a hill of beans. For then perhaps our politicians wouldn’t have been flimflammed into into the situation we’re now in.
    The last time we were here was the 20 years before WW1 when all the gold deposits were found and this injected liquidity into the capital owning segment. Now we do this with a monetary thought experiment which the plonkers are making real the poor.

  2. The economic mismanagement that has transferred wealth from working people into the hands of a tiny minority who have been rich in capital would explain a rise in populism, I’m not sure it explains the dumbing-down

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