To build the shaky face value of bubble-inflated assets into solid wealth, consolidation is called for. Ie, the income and assets of the vast majority are depreciated to compensate for the rapidly-increasing wealth of the few.

This is basically the process that has been under way since 2008. The current labile state of international (public and private) finance makes it reasonable to fear a second round any time soon.

NB state-shrinking "reformers" seem to agree that one area in which public spending may usefully increase is in the training and equipment of riot police.