In case you don’t visit the “Best Of” list today, I’ll point you to this post from the Berkshire board, which would likely get flagged were it on this board. A good analysis of macro trends and corporate profitability over the past half century:



The two last threads blend together on labor.

Demand side econ means all boats rise. The wealthy in the US will get wealthier without chopping down their cherry tree.

The Great Depression tools were not repeated this time through the cycle. Those tools devalued the USD and uncorked inflation further out in time, the 1970s.

With free markets as the middle class burgeons out and becomes wealthy inflation will be reined in longer term. The cycle will extend further.

The direct approaches to econ do not deal with tertiary realities in econ.