The wheels are coming off the Bidenomics recovery. US job openings (JOLTS) keep declining as The Fed withdraws its Covid sugar splash of monetary stimulus and raise The Fed’s target rate. For those enthralled by the narrative that AI will cause a margin-busting corporate revolution as millions of well-paid, middle-management employees are replaced by a cheap “bullshitting” AI algo, then today’s latest JOLTS report may come as a bigger shock than the big drop in job openings from one month ago. That’s because after unexpectedly dumping by 496K in May (a number which has been revised far worse of course),...