Believe me, know one knows what’s going on
We used to hear that we’d be burdening future generations by running federal budget deficits of hundreds of billions of dollars.
The deficit grew and grew but never hit $500 billion until the Great Recession years. Since then it’s only been under $500 billion once and now it’s running over a trillion dollars every year.
Everything has become unprecedented about the new-era capitalist system. Crazy-high debt levels. Crazy-low interest rates. Crazily lopsided inequality.
Why does the labor movement tolerate the grinding wage stagnation?
Why does there seem to be no concern anymore about exploding federal deficits?
https://www.thestreet.com/mishtalk/economics/a-grim-look-at-the-exploding-us-budget-deficit
The divergence between “Wall Street” and “Main Street” means … what? Leads … where?
I don’t think anybody knows.
