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The Wage Price Spiral That Defined 1970s Inflation
In the battle between capital and labor, capital definitely had its day of the past 40 years. We actually saw that US jobless claims are plunged to the lowest level in 52 years since 1969. And as you say, wages going up, but profit margins going down as well, how's that going to impact the investment landscape? You haven't really seen, but you've seen more and more companies. Every quarter with earnings reports, you can kind of do a word search for inflation, costs a good soul, but then also labor costs.