Loading ...That’s right, folks. The rich man’s club of the OECD wants higher taxes on capital; higher taxes on the rich; stronger unions; more public spending; mortgage relief; more affordable housing; and better social services. A complete reversal of the socio-economic policies of the last 40 years. All they have to do now is work out that this is not compatible with central-bank asset-price inflation, which makes housing unaffordable, and with free trade, which makes higher state spending unaffordable and higher wages uncompetitive. Either that, or the OECD will have to embrace Modern Monetary Theory. Pick your black hole – or wait for populists to pick it for you, because when the middle-class goes, everything goes.
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