Correction/clarification: At the 12:20 to 12:58 mark, where I mention moving from a labor friendly regime to a capital friendly regime, I actually meant the other way around; moving from a capital friendly regime to a labor friendly regime. Where I mention 130% debt to GDP ratio for the US, I was referring only to government debt (which, by the way, was ~116% of GDP in the early/mid 40s).
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