The conditions, described below, are not the outcome of an economic cycle. These are the outcome of deliberate government policies over the past 10-20 years. The US has deliberately become a third world nation.
Correcting such conditions may take many decades, once government resolves to do so, which may take decades in itself.
The closest parallel is the Robber Baron Era and the resulting Great Depression - from the end of the Civil War to after WWII - it took almost a century and WWII to turn the US around.
Corruption of the courts was central to events of that period, and major reform of the US courts in the early 20th century was essential part of the solution.
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- "According to UNICEF, among industrialized countries only Romania has a higher child poverty rate than the United States. Just in the last 10 years the number of impoverished American children increased by 30 percent."
- "out of 150 countries, we have the fourth-highest wealth disparity... Only Zimbabwe, Namibia and Switzerland are worse."
- 'Despite a falling violent crime rate in the U.S., there are now, as noted by Adam Gopnik, "more people under 'correctional supervision' in America -- more than six million -- than were in the Gulag Archipelago under Stalin at its height."'
- "...lack of [socio-economic] mobility is more prevalent in the U.S. than in almost all other OECD countries."
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