Curve may be flattening too quickly now???, page-99

Although I largely in agreement with you- I think the poor are going to be decidedly better off in the current cycle than the previous one. Although impossible to prove, I believe that QE and monetary policy alone that gained prominence post GFC resulted in functional inflation of capital assets, and wealth hoarding by the rich which failed to trickle down to the poor. Due to no real wage growth, CPI indexed inflation did not occur because consumer items did not move up significantly. However, rent and cost of living largely not captured in the CPI most certainly have been increasing and in a low growth environment, the rich have been getting richer (Piketty).

As with most things, you can’t hide from the truth, and the weight of empirical evidence against trickle down economics (mainly due to paradox of thrift) is now up against forced Keynesianism. There is significant historical evidence that fiscal policies work- indeed the world finally turned the corner in the GFC when the US fiscal stimulus bill was passed.

I now see a period of forced economic growth, which will result in greater money being left to the poor. Everyone realises that society is interconnected and there is shared distribution of pain, and functionally more equalization. In the corporate world - largely unaffected companies like Apple have to pay their workers whilst revenue drops whilst SMEs get significant government sponsorship.

That being said- the markets will remain very much Darwinian as they always have.