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5min chapter
Something Has to Break (EP.310)
Animal Spirits Podcast
The Economic Impact of Low Income Games
The number of tables are down 19% from a decade ago. The bottom 10% is seeing their wages rise 6% above inflation, the top 10% has seen them fall 5%. If you were an economist or you like taught economics in school, it's mind boggling to me that this actually happened. I feel like everything that happens in the real world has nothing to do with my textbooks that I learned. None of it squares at all. But here's the thing. To be clear, strong wage growth is a good thing. But for wage growth to be sustainable, it needs to be consistent with 2% inflation. And this is what we've got right now. Greed
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