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How Bible Sales and Chipotle Explain the US Economy
I wrote about the casino economy in the New York Times on Sunday, arguing that it has now infiltrated both private and public markets at unprecedented speed. It’s in the stock market, it’s in fiscal policy, it’s in the investments that venture capital firms are making, it’s in prediction markets - it’s everywhere. It’s nothing new1! But it’s accelerating. And that’s why it sometimes feels like the economy isn’t “good” or “bad” anymore as much as it’s just… tradable? Half the country is barreling toward recession, 40 million people might lose access to food stamps because of the continued ... (full story)