When you simply have cartels and monopolies across all sectors of the economy, there is no incentives to hire more people to pursue and compete, and and no avenues for new companies to enter the market and compete.
Instead, these companies simply optimize their costs. Which ultimately will be labor. And then rent extract as much as possible from the economy. And then rent extract as much as possible from the economy
All of that rent extraction goes to the super rich
Interest rates are normal or even low. The situation of interest around 0% for years was an extreme anomaly never seen before. Since 1973 interest rates were almost always above 5%, and the only moments they fell under 3% they created the 2008 boom and bust.
AtlasBarfed|9 days ago
Instead, these companies simply optimize their costs. Which ultimately will be labor. And then rent extract as much as possible from the economy. And then rent extract as much as possible from the economy
All of that rent extraction goes to the super rich
silisili|13 days ago
Interest rates have fallen, not to near 0 as they were, but down from highs with no apparent effect.
I used to agree with your statement, but it's feeling more and more it's not true.
Swizec|13 days ago
Hey it turns out that going from decades of stability to 1 or 2 years of total fuckaroundery has economic impacts. Who knew?
This on top of the general trend that the post-ww2 USA gravy train has been ending for a couple decades now.
otherme123|13 days ago
29athrowaway|12 days ago