“Distribution” has of course been the stuff of political debate for decades, but life is not going to get any easier if output stagnates or falls, which, by definition, it does during a recession.

Source: https://www.theguardian.com/business/2023/aug/06/brexit-is-the-villain-in-accidental-death-of-the-economy

Humza Yousaf has been hailed by his supporters as a polished communicator who can unite the party as support stagnates for the SNP’s central policy independence for Scotland.

Source: https://ummid.com/news/2023/march/28.03.2023/humza-yousaf-who-took-oath-in-urdu-is-scotlands-1st-muslim-leader.html

It is hardly a coincidence because buying a business that stagnates forever at 10x EBT would already provide a 10% pretax earnings yield, directly comparable to a 10% yield bond.

Source: https://seekingalpha.com/article/4573059-google-approaches-buffett-10x-ebt-stock?source=feed_all_articles