Two-line summary: We’re running the economy more on credit than on income and production (that buys time, not value). More intermediaries won’t fix low circulation, heavy debt service, and weak productivity; better rails and real production will.

I know, by this title you might think I’ve turned into some kind of communist or fallen for socialist rhetoric. That’s not it. I don’t like labels. I prefer to see myself as neutral, someone who looks at things as they are (beyond ideology or convenience)....