Because of past easy-money binges, the pool of wealth may be declining just as prices are increasing. And we're likely to see upward pressure on interest rates. This is bad news, and shows the limits of the Fed's power.
We should be quite skeptical when states impose the opinion of minority groups on the majority through special programs in schools and elsewhere. Such programs likely involve “positive discrimination” against particular groups, consistent with state objectives.
It's already clear that after an initial sugar high caused by stimulus funds, there's now hardly any "bang for the buck" from stimulus funds. In fact, governments are spending millions for each job "created" by stimulus.
In 2020, federal spending grew year-over-year at the highest rate since the Korean War. But state and local spending growth flatlined. Why? The answer lies with the Federal Reserve and how the feds can spend and borrow a lot more than any state.
The federal government collects a lot more in taxes than the state governments do. And the feds also spend a lot more. This tells us a lot about how the federal government came to dominate all political systems in America.
The "trickle down" effect is real in how capitalists are motivated to expand affordability of their products and services. Mobile phones and air travel were once just luxuries enjoyed by a select few, but are now widely affordable.
It's fairly easy to destroy the spontaneously created institutions and groups that make up a well-functioning society. But it is nearly impossible to rebuild them once they're destroyed by central planners.