There is a deficit threatening America. It is a deficit of fairness, a crisis of legitimacy...namely, a loss of confidence in the inherent fairness of our economic/political/legal systems. And this deficit is a greater threat to our society than the annual government deficits and $14.3 trillion accumulated debt. This deficit can shake the foundation of a society that very much depends on our obedience to the rule of law and the many unspoken rules that still prevail.
As people realize that they are not equal in the eyes of government decisionmakers and can be taxed into oblivion -- or even prosecuted -- if they are among the "outs," the sense that hard work and obedience to the law have anything to do with one's outcome in life will diminish. Arguably, this process has begun...and from more than just the "losers" in the post-2007 economy.
Increasingly success is perceived -- among an increasing segment of the population -- as depending most on "who you know" and ominously, what secrets you know. (Some of us have known, and kept secret, these truths for a long time.)
Eric Dixon LLC
World-Class Strategic Analysis