Not an economist or any other sort of expert on this, just a dumb old-timey tech guy that pays a little attention to the big picture.
As strange as it might seem, my first disturbing observations were in the late 60s as small-town hardware, clothing and grocery stores started closing as a result of Big-K and then Walmart moving into town. Then, small to medium manufacturers began to be gobbled up by much larger not-local corporations and then many of those closed. It was called "M&A". Those small companies and stores were invested in and a part of the local communities and culture, which kept them in check. That's all gone now for the sake of cheap products.
Zoom the clock forward almost 50 years and China and the Saudis are buying up land and resources around the globe using our "pennies from purchases" at the gas station and Sam Walton's "Buy American" Walmart. Pretty amazing for two nations where few Americans would want to live.
What disturbs me the most (for the sake of my granddaughter) is the fact that income and asset ownership inequality is getting much, much worse each year around the globe and I see no practical way to reverse that trend. This means their ability to buy elections, affect public policy, and feed right-wing fear machinery will also get worse. They love for us to be dumb, afraid, confused and close to broke.
We know we're a very sick nation when an Australian billionaire who made his original fortune selling gossip tabloids in the UK can actually sway elections in the U.S. and cause serious divisions in our society using his right-wing cable news network.
Sorry to hit you with another rant but next to climate change, I see this issue as our most challenging of all and it's kept well hidden from our general public. Our media will not bite the hand that owns them....
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