Is There a False Scarcity?

There is a cynical view of all this, which i characteristically will try to manifest to daywis. This is like a ratched effect. This is a way to ratchet compensation. And it's not necessarily really about something structural that's been going on for 20, 30 years. Even as i say that, i know that's not right, but i think it's worth acknowledging. I me the really interesting thing to watch, felix, is what you mention briefly, which is, there is a view that we're one big, deep recession from all the stuff going away. That'll be the true test of the kind of durability of these changes to the labor market.