1 Comment
Oct 11, 2022Liked by Alex Lekas

"being made a fool of by someone on your team makes it okay" - A really serious point in our hyper=-partisan world. As you note when things are going well we pretty much can ignore our leaders. Then we had a pandemic where all of a sudden the world changes. A few were angry right away as they saw it was foolish theater, others are discovering how badly they were treated. OTOH, that same odd 30% think the government did a great job and they are better off - go figure.

I suspect this coming recession will sink many boats. And when we discover that ~ 50% of the outlays must go to pay debt service and actual cuts to cherished things must happen and must be done, oh dear. We are busy devaluing the dollar via inflation at a much faster rate than the nominal, tolerable (hidden) 2% but the day is arriving. People ask how could we build the interstate highways (that we can't maintain) or how did we get to the moon, back in the day. That was before nearly half the budget was devoted to individual transfer payments.

Prepare for some very mad people and maybe and end to FYTW.

Expand full comment