[themgt]

The open not-secret has been, post-GFC and especially post-COVID, k-shaped recoveries and increasingly k-shaped economy. So it is both the best of times and the worst of times. Neither party has been remotely serious about trying to structurally fix this, which would be immensely painful to those with the most wealth and power and political influence.

We're also now fairly openly in a 21st century "Great Game" if not multipolar Thucydides Trap including ongoing proxy war, so deflationary impulses from the Eurasia to the west in energy, goods and labor have been partially choked off in various ways, leaving the working class with the double whammy of energy/goods/services inflation along with the preexisting asset price inflation.