Inequality Without Efficient Redistribution : The Fed, Populism, Central Banks and Slow Car Crashes: Unlimited Credit Produces Unlimited Debt

Today from the UK with Brexit leavers and remainers, to Venezuela and Turkey, the USA and Brazil, South Korea and Kenya we find governments whose legitimacy is under question, and whose voters are almost equally divided between one camp or another. No election goes uncontested and no office holder considered honest. The world is divided like a traditional village with opposing moieties. We are projected back in time without the guidance of traditional wisdom. Beset by Covid-19, war in Ukraine and decreasing production and productivity, the creation of credit seems the only solution. Yet debt also has resulted in rising prices and inflation, though most of this is in asset classes it has come to harm average households