Quote:
Originally Posted by smadsen
The U.S. economy might have been able to "absorb" a Trillion+ of pandemic debt to keep the economy from crashing. But $8 Trillion is going to have an effect that won't be swept under the carpet. And the morons we elect to make monetary decision are clueless. Janet Yellen on
TV the other day shilling for the additional $3.0 Trill infrastructure package was saying more debt would be good for the economy. Meanwhile, last month the U.S. added 200,000 jobs, but 4 million people left the workforce, most to await their infrastructure dividend check.
The Cliff's Note's version for LWJ is there's too much cash floating (think an explosion in Scrooge McDuck's basement vault) around the system, chasing too few goods & services (see empty shelves).
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It is my understanding that the "quits" are people quitting one job and moving to another with greener pastures. With the huge number of openings there is a significant amount of job churning going on.
Of course there are some sitting their arse waiting on free money, though those are now in the minority.
That is a huge amount of turnover for companies to deal with. The new hire won't be as efficient as the old worker that moved to a new, and seemingly, better job. Workplace inefficiency is growing which affects product availability.