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"they're indicating that they're willing to tank the economy very hard in order to create a glut of workers for the available jobs." I agree- the fed knows tha
by fallingfrog 4y ago
"they're indicating that they're willing to tank the economy very hard in order to create a glut of workers for the available jobs."
I agree- the fed knows that profit levels are higher with low wages even if it means a recession than if you continue to let workers have all that leverage. But there's only so far that you can continue to cut the pay of workers and make up the lost consumer spending with leverage.
- lamontcg 4y agoYeah at some point it seems like something has to break. And I should have highlighted more that given the overhang of job openings and secular trends like retirement of baby boomers, that they may not be able to accomplish their goals short of a great depression and substantially tanking the broader economy.