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Our legal and regulatory mess has been crying for reformation for 20 years. Our system of finance where investment dollars are created out of inflation rather than out of personal savings is on its last gasp of hot air and paper. We have put a fortune into Miami condos and shopping malls. We have 10 times the retail floor space per consumer of any country in the world. None of this is productive.
Health care costs are inflated by regulation, legal messes, a bizzare system of payment all of which has made a bureaucratic nightmare out of getting an aspirin.
It was ok when the world was willing to take our paper in exchange for commodities and manufactured product that we were unwilling to produce ourselves. That is at an end.
We have a finance system that skims money off the top of consumer transactions through credit card payments and interest payments that contributes nothing productive.
We have lot to work through and a lot of restructuring to move people from jobs that shouldn't be done to jobs that need to be done.
