The economic, financial, and institutional disruption might become toxic if basic necessities like healthcare and housing continue to extract from the population in order to provide the unearned income the rentiers enjoy. Who can take risks and innovate in a society where most people are one misfortune away from absolute destitution?
About 10 months ago I had similar insights that led me to conclude that Chinese government bonds might be a great investment. Did it work out that way?
The economic, financial, and institutional disruption might become toxic if basic necessities like healthcare and housing continue to extract from the population in order to provide the unearned income the rentiers enjoy. Who can take risks and innovate in a society where most people are one misfortune away from absolute destitution?
Great article, Ed!
About 10 months ago I had similar insights that led me to conclude that Chinese government bonds might be a great investment. Did it work out that way?