FT Asks if Economy is 'K-Shaped'; Ignores Who Wields the K
The Financial Times' 'Swamp Notes' bravely asks if the US economy is 'really K-shaped,' presenting the grim visual of high earners soaring and low earners sinking. They highlight this as a recent phenomenon, posing it as a question of what it 'says about the economy.' What they don't explicitly spell out is the decades-long legislative agenda that created this chasm—deregulation, tax cuts for the
wealthy, and corporate welfare disguised as 'stimulus.' The Federal Reserve's quantitative easing, for instance, disproportionately benefits asset owners, fueling the very K-shape they now ponder. Instead of questioning if it's 'K-shaped,' perhaps they should ask who is shaping the 'K.' While working-class wages stagnate, the defense industry's profits surge, often fueled by bipartisan consensus
on endless wars. For example, Lockheed Martin's stock (LMT) soared over 100% since 2016, enriching investors while public services face cuts. This isn't an accidental K; it's a meticulously crafted one, where corporate lobbyists and their political beneficiaries continue to siphon wealth upwards, then marvel at the resulting inequality with feigned surprise. How many more 'swamp notes' will it
take for them to name the swamp monsters?