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Chris Irons: The problem isn't trillionaires but monetary policy
By Chris Irons
Quoth The Raven, Substack
Sunday, June 14, 2026
An open letter to Sen. Elizabeth Warren about trillionaires and inequality.
Dear Senator Warren,
When I watched your recent video on X about Elon Musk becoming the first trillionaire, I found myself in the unusual position of agreeing with you -- at least in part. That is not a sentence I write often.
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You see, you are correct that something has gone profoundly wrong in an economy that can produce a trillionaire. You are correct that the gap between the financial elite and ordinary Americans has become so vast that most people can barely comprehend it. And you are correct that millions of Americans increasingly feel as though the economy is rigged in favor of a small group of people at the top.
According to The Wall Street Journal, there are now roughly 430,000 American households worth more than $30 million, including approximately 74,000 households worth over $100 million. The growth of these groups has dramatically outpaced overall population growth over the past several decades.
Where I part ways with you is on the question of why. ...
Where you see a trillionaire problem, I see a monetary policy problem. ...
... For the remainder of the commentary:
https://substack.com/home/post/p-201975698
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