Karl Smith: inflation, the debt crisis, China and the American tripartite class system

Economics is obviously important. Recently in the US, we’ve been talking about the threat of inflation, and spending financed through debt. What does this all mean? Not only are the answers important on a macro level, but they’re also relevant to all of us. To attack these questions I decided to talk to Karl Smith, a columnist at Bloomberg. We tackle four big topics: Are we on the path toward severe inflation? (in the US) Is the US headed toward a public debt crisis in the 2020’s? What is the path forward for the US-China relationship? Finally, Karl proposes his own understanding of the new class system in the US, divided into three groups, and how we can proceed forward in a reasonably equitable manner