We have Euro style socialist policies implemented in the first 4 years of Obozo's rein so we get Euro style socialist economies to go with them.
I don't really disagree with that point. My guess is that, if they would just be honest, the Left would say "yeah, I'm willing to trade a more dynamic, powerful macro economy for a bigger and wider safety net". And that would be an interesting conversation. Either way, it's pretty clear we're headed in that direction, primarily because the culture is.
Regarding inflation, I'm not quite convinced. The same economic forces that are moving us away from a more dynamic economy may keep inflation in check for quite a while. Still not sure on this. But it wouldn't surprise me if both growth and inflation stayed subdued for another 15 to 25 years. That's not a prediction, by the way. I look at bond markets every day, this is pretty fascinating stuff.
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