Inferring from "Ironically, it’s GDP growth that will stop the music," it seems to me like they're saying that a lack of increased productivity combined with a

Inferring from "Ironically, it’s GDP growth that will stop the music," it seems to me like they're saying that a lack of increased productivity combined with a tightening labor market will increase wages and thus inflation while not affecting equity returns, shifting growth from equital holdings to cash holdings. I'm not so sure it'll happen personally. The Fed seems to be raising interest rates before inflation has a chance to increase, but we'll see.