This Ray Dalio thing is above my financial literacy level, but it tracks with my anecdata. I hear people complaining about struggling to make rent, and people struggling to find a place to put hundreds of millions.https://www.linkedin.com/pulse/world-has-gone-mad-system-broken-ray-dalio/?fbclid=IwAR0kRor9Dt94pHKZxjvy9Ze_Kaki1nE8Bwytdj9Kd5_6EIwLln81EvlmuWk …
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Result: we’re not richer, but we are more unequal. The financial elite gain not in consumption but in relative security. The extra “money” never corresponded to extra goods; it is fake; it is a measure of “low risk of eviction” more than a measure of “having nice things”
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They partially sit on it, but also it starts to chase ever riskier returns. Over-capitalized startups, share buybacks instead of R&D, etc are all partially downstream of this
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