If you have Amazon Prime, you can watch The Flaw. This documentary is an outstanding explanation of income inequality in America, and its role in helping to cause the Great Recession. Both the good and bad of Capitalism are laid bare. Spoiler: the bad comes from a lack of regulation.
I like that the starting point is one my favorite 2008 post-crash moments, when Alan Greenspan admits that his Ayn Rand Objectivist view of the world is wrong. Duh! I knew that after reading Atlas Shrugged on my own in college, while studying for my Economics degree.
The Flaw is very well produced, with a less foreboding tone than Frontline’s usual approach. There is no narrator, the interviewers are never seen or heard, and old film clips and animation are used effectively for entertainment value. The graphs are enlightening, and there are many memorable quotes from experts who know their stuff. The Flaw gets a DogRat ***** rating.
What’s changed over the past 10+ years on Wall Street? Nothing, thanks in part to the Fed still holding interest rates artificially low. I don’t see the $1400 windfall spiking inflation, and certainly not for very long; although I wish it were possible to target the payments more effectively, for those who really need it for necessities. The thing that could bring a return to inflation is narrowing income inequality. Which means it will be very difficult for the Fed and Treasury to manage, when and if it finally becomes a reality.
