“Private sector production will be negative in 2023.”
2022 Third qtr productivity down 1.4% (revised yo-yo 0.8% I think).
Can’t figure out how we can have 7%+ inflation and negative productivity? Weird!
Inflation is caused by too many dollars chasing too few goods. The government has pumped trillions of dollars in to the economy. There’s your source of too many dollars. They are either borrowed or printed. Very little comes from actual taxation. Then there is the problem that very few of those dollars actually gets used to producing anything. Add supply chain problems. Add a terrible energy policy. Add a horrendous regulator burden on business. Add a woke and dysfunctional culture that is pervasive in big business. Add a poorly educated and highly indoctrinated workforce that is generally pretty damn lazy. Shall I continue?
It’s really sick considering the natural blessings that America has compared to the rest of the world. We are squandering those blessings. We are our own worst enemy.