Would you propose that companies should pay below market rates to create a buffer against these cycles? Or perhaps not engage in competition with their competi

Would you propose that companies should pay below market rates to create a buffer against these cycles? Or perhaps not engage in competition with their competitors? I think the conclusion here is that companies don't control this. If the market pays people more, they pay more. If there's heavy competition they compete and hire aggressively. You can't predict these cycles. If you could you'd be a billionaire trading on the stock market. So anyone who says that now is just suffering from hindsight bias. I think the root cause here is government action on monetary policy and interest rates.