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.
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It’s more that mere inequality or a redistribution problem. The system is trying to solve for returns higher than can be realized by investing in the median human. Otherwise UBI would be a no-brainer answer rather than a debate.
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This accords with a lot of things I’ve heard — basically, stimulus policy tries to goose the economy by increasing the number of dollars in people’s pockets and hoping they’ll spend them. But investors know there’s nothing good to spend on, so they sit on tons of money.
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