Supply side got everything they wanted but the evidence is in: what trickles down is piss, not money.

Hockey stick deficit growth YoY.

FY 2020 (Oct 1, 2019-Sept 30, 2020) was a sharp increase in the deficit, 2021 and 2022 were decreases, 2023 YTD is an increase over the same period in FY 2022.

Its nothing like hockeystick growth.

everyone is exorbitantly indebted to everyone. At some point, someone has to put some reality back into the simulacrum because simulacrum does not feed your family

If people keep spending $40k for a car a millions $$ for a house … well it is definitely not gonna end up well…

> everyone is exorbitantly indebted to everyone

Nobody goes there any more, it’s too crowded?

> At some point, someone has to put some reality back into the simulacrum because simulacrum does not feed your family

Aren’t poverty, famine, and food scarcity at record lows?

>Aren’t poverty, famine, and food scarcity at record lows?

They were temporarily alleviated thanks to technological advances.

Can you suggest reading to learn more about this viewpoint?

To me, the technological advances seem to be a product of the economic system. As long as the economic system can be sustained, then it is likely that human welfare will continue to improve.

It's no question that certain people having exorbitant amounts of wealth allows them to perform technological feats that would not be otherwise possible, but this does not mean it is otherwise sustainable as a system. Increasing debt can provide a short-term boost to industry, but long term there is no way to stop the financial sector from 'eating' the whole economy.

I would recommend picking up First Principles of Islamic Economics by Al-Mawdudi.