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by maxdo
8 days ago
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You just named symptoms not cause. 1. People vote for old idiots . 2. Local politics is all about milking any potential work with permits. Sky rocket housing due to that . 3. American lost engineering culture everywhere except software . Now software is dead as industry we used to know |
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1. Easy money for far, far, far too long in the US and a complete political unwillingness to take any risk of a recession, no matter the long-term cost required to stave it off. In my mind, this explains the rich-poor gap, the rise of crypto, insane valuations, house-price inflation, the weird delta between US and rest-of-world standard of living/salaries, and probably even the migration crisis.