Your latter comment is more what I’m getting at… Not to mention both parties have done a fantastic job of jacking up the deficit in the last 20-30 years.
Anyone want to check what the average fed fund interest rate in 1981 was? Almost 4 times what is today. Inflation rate? 3 times what it was compared to today.
Demographics have changed as well - Boomers are retiring and taking the most powerful economic driver of growth in world history (Not just the US, Most developed nations are facing the same issue). Younger generations have different views on work life balance (This thread is a micro-example). That is going to drive up labor costs, and in turn, increase inflation due to supply/demand with human capital. Gen X and Millennials don’t have the bodies for 1 to 1 replacement. I mean just look at the airline industry.
Imagine that happening across and entire economy. Nurses? Shortage. Law Enforcement? Shortage. Health professionals? Shortage. Transportation? Shortage.
One can only logically assume we’ll be seeing elevated interest rates for the next 5-10 years as Millennials enter their career peak earnings. It’s not as simple as people think... Not to mention re-shoring of several industries as once profitable cheap labor overseas starts to balance out with the US (largely due to the same macroeconomic issues)… but other countries are far worse off than the US.
Saved round and completely pointless point made by
@robav8r …We don’t need a 600 ship Navy because 1 DDG can pack as much firepower as 3 or 4 ships (or more) from that era.
Threadjack complete.