Perspective: This is just the beginning

[VicBee]

The answer to your question is not complicated. What to do about it is what's complicated.

In modern, large economies, there are virtually no ideal "free markets", where buyers and sellers are equally free to walk, at both the scale and with the enlightened regulation needed for "supply and demand" to work its magic. The "invisible hand" is tied behind its master's back .

Politically driven regulation destroys free markets, just as lack of regulation does. Only disinterested regulation can protect free markets. We have gotten away from that. Politics, which read as "special interests", now drives regulation.

The warts and blemishes in our defective U.S. Constitution are coming to light. Those that framed the Constitution and its Amendments assumed the nature of men was benign. "Men", in the original context of the Constitution, meant male property owners. These men were almost entirely white. No provision was made, nor has it since been made, that would prevent a Senate making a rule that would render itself incapable of fulfilling its Constitutional duties. And that, indeed, is what has happened.

Revolutions can fix things, or make them worse. I don't know which has the higher probability, better or worse. An interesting question is, are we at the point of accelerating failure and revolution yet? I think not yet. If the nation can get to mid-century without any minority seizing power by deceit, legal or illegal, than I think the American Nation can hold together for perhaps as long as did the Roman Empire.

In six years, the future should be more clearly seen than now. We are at a danger point somewhat similar to that faced by our nation on the morning of March 4, 1861, but now in a modern context where disinformation travels faster than information.

The point I was trying to make in my OP is that covid exacerbated a trend that was growing in the labor market, one where individuals by the millions discovered alternate sources of income through the internet. That income stream has proven to be far more rewarding than going to a job for 8 to 10 hours a day and the repercussion on the economy is high inflation.
This is no longer a political problem; there are few ways to create incentives to get people back in the workforce other than raising pay rates and inflation.

Perhaps Google and other advertisers are paying trendsetters and others on YouTube far too much for doing what they do. Hopefully, a market crash and long bearish winter will force people back to work, and let supply and demand do its magic to return pay rates to what they were pre covid. Wealthy people won't care; not an issue to not profit for a couple of years and load up on reversal.

 

[gkishot]

I'm not sure where you're going with this or if you have a point to make adding to or disagreeing with my perspective.

This is a follow up question to your previous post.