FYI: The latest risk supposedly precipitating a collapse of America is not the rise of Socialism; It is not Senators Elizabeth Warren or Kamala Harris or even AOC. Medicaid for all will be expensive, and a guaranteed income will be costly – but they are not existential threats. It ain’t even the Russians hacking the 2016 election or the rise of China as an economic powerhouse.
The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.
Regards,
Ted
https://ritholtz.com/2019/03/its-not-capitalism-its-crony-capitalism/
