Quote:
Originally Posted by left of center
That said, the economy is still doing quite well at the moment, as is justified by the Fed's consistent and frequent rate hikes and historically low unemployment rate. It won't last of course, and I'm sure a recession isn't too far off. The next 12 to 18 months could likely see a rapid slowing of quarterly GDP growth.
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You are way overthinking things here. We don't need to go back 60 years or compare to completely different economies (older, less mature, oligarch-run). The following things should never occur together, yet we are seeing them right now:
Something is fundamentally wrong with the economy. If unemployment is low, the economy is growing and the laborforce is expanding; why aren't wages growing? There is no answer for this and the implications are very bad. It implies that nearly all of the growth is going to owners of capital rather than laborers. I worry about the implications of that in the long-term.