>>60760804 (OP)it’s the same video with the same charts every time. debt-to-gdp, homes priced in gold, sp500 priced in median wage, government deficit as a percentage of gdp, etc.
he also fails to understand that there is no policy solution to the underperformance of labor compared to capital for the last 50ish years. in the post ww2 era, the US was basically the only industrialized country that hadn’t been bombed to death twice in two generations. that meant manufacturing was basically only happening here, which meant demand for manufacturing labor was very high, and wages were high. but in the 21st century, when manufacturing can happen almost anywhere and manufacturing labor is now abundant, it’s now cheap.
the world where an average factory worker could live an upper middle class lifestyle is over. it was a fluke of history, it’s not coming back. and it’s not gone because of any particular government policy, but simply because the american factory worker has competition now that he never had in the past.
now, it’s possible the wealth and wage gaps could close in the future as a result of capital doing *worse* as they too begin to face international competition, but that wouldn’t make american labor any better off.