'Doomsday' report leaves experts rattled about increasing likelihood of US economy shake-up: 'The system wasn't designed for a crisis like this'

https://news.yahoo.com/news/finance/news/doomsday-report-leaves-experts-rattled-010000863.html

QuoteA scenario that began with unprecedented white-collar layoffs quickly devolved into mortgage meltdowns as capital continued to concentrate in the tech and AI sectors.

"The system wasn't designed for a crisis like this. The federal government's revenue base is essentially a tax on human time," Citrini's analysis explained. "People work, firms pay them, the government takes a cut.

"... The government needs to transfer more money to households at precisely the moment it is collecting less money from them in taxes."

To me that ties with the idea that the value of work has dropped, that the inheritocracy is the future, as the asset value of Western countries has become so high.

Is it, therefore, a house of cards? 

I have always felt that assets (stock specifically) go up largely because we as humans are inherently optimistic. They crash when that optimism goes.

That it's all a house of cards . 

Chearful eh?  But there is hope.  We are optimistic.

My grandfather rode a camel. My father rode a horse. I drive a Mercedes. My son drives a Land Rover. His son will drive a Nissan. But his son will ride a camel again.

> inheritocracy is the future, ^as but the asset value ^{of Western countries has become so high} plays out.