Re: the future long term financial apocalypse of the USA

On Sat, 18 May 2024, Michael F. Stemper wrote:

On 17/05/2024 15.31, D wrote:
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I was unaware we have anything resembling capitalism. What we have today is a plan economy with government calling the shots, which is far from capitalism. Many billionaires are the ones who are the most cosy with politicians.
 As for who the wealth belongs to and the benefits for the population at large, note that we are living at a high peak of civilization compared with 100 years ago on all scales, infant mortality, wealth, quality of life etc.

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The implication of what you're saying is that living at the peak of
civilization is strongly correlated with having a planned economy
rather than capitalism.

That can be explained in two ways.
1. What we enjoy now, was built up during times of much lower taxes and much fewer regulations.
and
2. It shows that despite the enormous destructive forces of central planning we have today, the market still enables us to live at the level we do.
So my interpretation is that we are in the short term (and we have) sliding down due to socialism, but in the long term, once we get back on track, we'll see further improvements.
Probably we need a global crash or two so that people are reminded of what happens with high taxes and regulations, and then a lot of socialist and sleeping civil servants will be kick out and we can have the next growth cycle.
Also note that if you are a bit contrarian, this can also be used as an excellent foundation for investment decisions.