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by malvosenior
3021 days ago
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I think you have it backwards. It’s not that there is an asset bubble, it’s that labor is feeling the effects of globalization. The lifestyle that people in the US have come to expect (urban home ownership for instance) was a historical anomaly based on the United States unique position as the leading super power post two world wars that decimated the rest of the globe but pre labor globalization. The reality is most people will never attain the 20th century consumer lifestyle and I think a lot of people would argue that’s a good thing. |
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