Tommy invited Sherry Voluntary to come back to the show. They discuss how she is discussing the current hysteria with her kids, and how she’s seeing their future as the economy nose-dives.
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Mass Production Equals Mass Consumption
[R]elative shares in national income have remained substantially constant over the last hundred years. This, however, is true only if we measure them in money. Measured in real terms, relative shares have substantially changed in favor of the lower income groups. This...