The CEO of Blackstone has compared the times we live in the USA as being similar to America in the 1850’s. The 1850’s were pro-slavery versus pro-abolition while today it is pro-capitalism versus pro-socialism. This issue is being driven by a combination of globalization and technological advances. As a result declining income distribution coupled with declining incomes in general is driving both left and right to their extreme positions.
CEO Schwarzman believes that the decline in education excellence in the USA has exacerbated this downward trend. While he is correct the increasing dominance of democrat lead teachers unions will continue to accelerate this downward trend. A global depression will rout any remaining capitalist support in the USA. The West lead by America will then take a back seat to the East lead by China. Ironically democrat Bloomberg would have done a better job of saving capitalism in America than republican Trump has!
And that is all I’m going to say about that.