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Nick Manteris's avatar

"Nothing is so permanent as a temporary government program." ~Milton Friedman

The monetary system is the deepest example of the pattern you describe. No expiration, no verdict, no unsubscribe button.

2008 was the moment something should have ended. The system that produced the crisis was instead expanded. Fifty-five years and ten presidential administrations later, the gap between what the economy produces and what workers are paid has never closed, never reversed, never been permitted to resolve. The patching operation — government borrowing to fill the distance between costs and paychecks — is now self-reinforcing. Interest on past patching exceeds the defense budget.

That is what a crisis managed into permanence looks like from a paycheck.

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