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by yummyfajitas
4540 days ago
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Most of America has not experienced stagnation. They have experienced a consistent increase in employment compensation and a consistent increase in consumption. http://research.stlouisfed.org/fred2/series/ECICOM http://research.stlouisfed.org/fred2/graph/?g=qG0 The only "stagnation" that has occurred has been a shift in compensation from taxable wages to untaxed non-wage benefits. The fundamental problem is that with a drop in labor we will have fewer goods and services. No matter how you slice it, that's a drop in (real, not necessarily nominal) consumption. |
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