FlyerInHI — the Fed has just blown bubbles in things that aren’t quantified by their measurement of inflation. i.e. local housing bubbles and stock bubbles. That’s what easing without appropriate government policy does.
If you think that no other developed country has the same combination of positive factors, you’ve never been to Australia or Canada.
And unlike those two countries, we have a big negative factor in our government. Liability averse, unwilling to meaningfully invest in infrastructure, containing people who take religious books literally, etc.
Lastly, we don’t need to be richer in money. We need to become richer in free time. A working week cap of 35 hours and 4-5 weeks of mandatory vacation time would be a good start in that department.
