“Wall Street told US manufacturers to move their production to China in order to increase profits from lower labor and regulatory costs, or Wall Street would finance takeovers of the companies, and the new owners would raise the firms’ profitability by moving production offshore. Large retailers, such as Walmart, ordered suppliers ‘to meet the Chinese price.’
When the jobs were in the US, most of the gains in productivity went to labor. Therefore, real median family incomes rose through time, and the consumer purchasing power this income growth provided drove the US economy to success for ever more people. When the jobs were moved to Asia, the growth in real median US family incomes stopped and declined.”
Paul Craig Roberts
“A credibility trap is when the managerial functions of a society have been sufficiently compromised by corruption so that the leadership cannot reform, or even honestly address, the problems of that system without implicating a broad swath of the powerful, including themselves.
The moneyed interests and their aspirants tolerate the corruption because they have profited from it, and would like to continue. Discipline is maintained by various forms of soft financial and social coercion.”
Jesse
https://www.sovereignman.com/investing/us-stocks-are-now-the-most-overpriced-since-the-2000-crash-20733/