econ

Rising inequality is turning US into an autocratic state, billionaire warns

NovaRift

> Dalio said attacks on the Fed “would undermine the confidence in the Fed defending the value of money and make holding dollar-denominated debt assets less attractive which would weaken the monetary order as we know it”.

I'm not sure who really had any confidence in the Fed except the people who benefitted most from the multiple bailouts we've had since 2008.

IMO the gap in wealth stems from the greater autocracy, not the other way around.  We were already getting more autocratic due to the government controlling greater and greater shares of the economy, which also leads to more inequality.

It sometimes appears that raising capital is the primary economic activity rather than actually building things of value.

