, Columnist
Forget Inflation. The US Economy Has Bigger Problems.
No politician would say ‘let’s indulge the rich and stiff the poor.’ Yet that’s what’s happening.
Getting poorer.
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When people worry about the US economy these days, their focus is invariably too myopic. Forget about the battle with inflation: It will be won, perhaps at the cost of a painful recession, and the country will settle back into its previous trajectory.
The real problem is that trajectory. America is turning into an oligopolistic economy that marginalizes the vast majority of its inhabitants.