Do we have shortages? If we don’t have shortages there’s no reason for productivity to grow. In our modern big data world businesses generally have a pretty good idea what sales are going to be and producing more than you’re going to sell is bad business.
Shortages? Genius creates it’s own opportunity. The other day I was at Best Buy. Have you seen these new VR setups?
Think Mustang. Created it’s own market. Sure, in the sense of conventional economics all the things you know are true but the exceptions are what make things, well, exceptional! MAGA is nothing else if it ain’t that. Unleash the creativity of Americans and we will shock the world, again. No one works harder than Americans. No one. Ask any foreigner who visits. Sure, Zero was trying to globalize us to death but WE ARE AMERICANS.
I’m serious. I was shooting the breeze with a Neurologist I know a few years back. The guy is from Spain, educated there and here. Has traveled all over Europe and Latin America. The one thing he said repeatedly that stunned him most about Americans compared to literally everyone else in the world. We work harder than anyone. What’s more he knew why. We have a tradition of being able to keep more of what we produce than anyone else. That’s what American Exceptionalism is about.
Most people say they'd like more money then they have, and they think they should get mor
e pay.
The thing is that 15 years ago the amount of stuff everyone made grew every year by about 4% so pay went up the same.
Only problem is that since 2002 production growth's been falling down to about one percent per year but even tho pay growth dipped in '08 it's bounced and pay's been growing at twice what production growth has been.
This means we're about to get hit w/ layoffs, inflation, or both.