You don’t have to be an expert and know all the details to see big picture trends.
Aloha Spud
111

There are plenty of good middle class jobs, and we can create more, but we won’t get there with our current set up. You’re 100% right about the wealth inequality situation. The problem globally can be summed up quite succinctly: Finance is too big a portion of the economy. That’s it. Finance is such a part of GDP in the US that it is supressing the rest of the economy. It is the pinnacle of wealth inequality. You have a very few people at the top making huge amounts of money pushing paper around, but producing nothing tangible.

In Europe the situation is a bit better for various reasons, but has been trending like the US (lagging) for a couple decades. China, ironically, is saving the world from a meltdown right now. And I’m no fan of China.

Mark Blyth is a great source of practical economic wisdom if you’re interested.

The finance sector will be controlled one way or another. As I wrote before, it is just a question of how bloody it will get.