02-06-2019, 11:29 AM
IMO there are two big reasons the current time doesn't feel like a Crisis (or more like a mix of Crisis and Unraveling - more precise, like a Crisis managed with Unraveling methods, so we get the worst of both):
1. Fewer children born - when FDR was elected (for better or for worse), the population pyramid of the US really was a pyramid, not a bell or urn. 80% of the G.I. generation voted for him - imagine if there had been twice the number of youngsters when Obama was elected.
2. People live longer. Theoretically, during the first years of the Crisis (let's say it started in 2008) the last Silents in power should have been ushered out. Like the SCOTUS judges under FDR. But enough powerful Silents are still alive and kicking, and they know the rules of the game better than anyone else, unfortunately. I'm thinking of people like Pelosi, but also of billionaires who still run hedgefunds (Buffett, Soros!) - and lobby behind the scenes!
That's the reason we aren't simplifying the laws and other rules. That's the reason even Trump's government hasn't lead to the deportation of some hundred thousand criminal Mexicans. That's the reason the "experts" responsible for the Financial Crisis weren't punished.
1. Fewer children born - when FDR was elected (for better or for worse), the population pyramid of the US really was a pyramid, not a bell or urn. 80% of the G.I. generation voted for him - imagine if there had been twice the number of youngsters when Obama was elected.
2. People live longer. Theoretically, during the first years of the Crisis (let's say it started in 2008) the last Silents in power should have been ushered out. Like the SCOTUS judges under FDR. But enough powerful Silents are still alive and kicking, and they know the rules of the game better than anyone else, unfortunately. I'm thinking of people like Pelosi, but also of billionaires who still run hedgefunds (Buffett, Soros!) - and lobby behind the scenes!
That's the reason we aren't simplifying the laws and other rules. That's the reason even Trump's government hasn't lead to the deportation of some hundred thousand criminal Mexicans. That's the reason the "experts" responsible for the Financial Crisis weren't punished.