4. By investing aggressively in infrastructure, social programs and an economic safety net he evened the starting line. 5. As “poor” started to earn more, they spent more, driving commodities and inflation. 6. The “rich” did less well because financial assets were worth less.
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7. Gap between “rich” and “poor” closed aggressively. 8. Big realization for me is government spending leads the way not private/capital markets. 9. In last month we’ve decided to spend $1.9T + $3T!!
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Fast forward to today and the same situation is at hand. Is Biden a quasi LBJ? Will he spend aggressively enough? Early data seems to indicate so. And that these initiatives will help “poor” more than the “rich”. If inflation comes back, inequality gap will shrink.
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It may also be an effective way for Dems to guarantee winning the House + Senate in the midterms in 2022. He who spends will win. So buckle up. More money is likely coming. Inflation is probably coming, too. But less inequality will also come with it.
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$CLOV LFG.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Yd you sell SPCE??
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Too much concentration is the only real issue imo as I said.pic.twitter.com/P5QtR0qqyP
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I’m going to tell my kids this is youpic.twitter.com/O56BZ58Kve
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In one of Chamath’s podcasts, he has a story of going to some Hollywood party and a blondie chatting him up, asking for a photo, and then telling him how much she likes him on Parks & Rev.
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