Billionaire private equity mogul Steve Schwarzman, a living symbol of post-industrial late capitalism's gaudy depravity, wrote an opinion column about politics and the government, and the Financial Times published this column. It's a bad, dumb column, but that is to be expected, because what the hell does billionaire private equity mogul Steve Schwarzman know about politics? Again: Very wealthy people are not smarter than regular people, and wealth or financial acumen does not magically create expertise on other issues. Steve Schwarzman knows as much about politics and economics as any schmo who reads the Wall Street Journal editorial page, which is to say he believes a bunch of convenient lies. If Schwarzman wrote a column on what the Boston Red Sox need to do to reverse their slump would Sports Illustrated publish it, or would he have to put it on his blog like a regular self-appointed sports expert? Instead, this is Steve Schwarzman's explanation for what caused America's slump, and how to reverse it.
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