
The One Big Ugly Bill has passed Congress. The K-shaped U.S. economy is about to become even more pronounced. If and when inflation picks back up and financial assets continue to rally, will more people in the bottom leg of the K—those without assets—feel increasingly left behind as they watch others prosper? Could this fuel the rise of more socialist candidates across the U.S. in the upcoming midterms? We need to build a society where everyone is, by default, an asset holder shielded from the Fed’s dilution. Godspeed.