Eighth Note to “Be Prepared to Fight”

Demographics, trade protectionism, and a credit crunch are perhaps contributing to economic, political, and social outcomes more than anything else, aside from the overall distribution of wealth which we highlighted in the previous note. Identity politics, the fact that governments are now shielding themselves away from free trade as opposed to embracing it, and the fact that America is now the tenth-easiest place to obtain credit from when it used to be the easiest to obtain credit from are perhaps contributing to economic, political, and social outcomes aside from the overall distribution of wealth more than anything else.