Hey, remember that saying “Businesses hire when they are swamped with demand“?
The evidence just keeping piling up for this idea. It turns out Corporate profits just hit another high – yet wages and employment is in the dumps!
I don’t know what more it will take people to abandon “expectations” as being more important than actual wages and business. As Mr. Paul Davidson says:
“Nothing will build the confidence and trust of business and workers quicker than the continuous ringing of cash registers.”
Here’s the chart from Mr Henry Blodget and FRED showing Corporate profits at modern era high relative to GDP: