> I didn't notice any changes in this after the post-Watergate "reforms", which happened not long after I became politically aware.
That is why I added the 'at the latest' bit. I didn't want people to get hung up arguing over a date.
> And I agree, this is a consolidation period. But I believe it's build on a foundation of sand, e.g. there is not an infinite hunger for US government debt at negative real interest rates, we're just the "least worst" place to put your money for the foreseeable future.
It is not purely the US government doing consolidating. The trade treaties the US negotiates are really bought and paid for by US multinationals.
China is also consolidating power as it slowly opens itself to the world market and seeks to displace the US's hegemony.
I'm sure you can even argue the EU "One Market" is the same type of political-economic consolidation.
That is why I added the 'at the latest' bit. I didn't want people to get hung up arguing over a date.
> And I agree, this is a consolidation period. But I believe it's build on a foundation of sand, e.g. there is not an infinite hunger for US government debt at negative real interest rates, we're just the "least worst" place to put your money for the foreseeable future.
It is not purely the US government doing consolidating. The trade treaties the US negotiates are really bought and paid for by US multinationals.
China is also consolidating power as it slowly opens itself to the world market and seeks to displace the US's hegemony.
I'm sure you can even argue the EU "One Market" is the same type of political-economic consolidation.