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Wage Growth Goes K-Shaped
When we talk about (complain about) America's so-called "K-shaped" economy in the post-pandemic era,
BMO is rehashing well known observations. It’s been a constant feature of the Trump economy to stick it to the lower income tranches while the kleptocrats grab ever more. Wish I could replay all of Bessent’s self-serving interviews re Main Street versus Wall Street. As one of my colleagues said to a senior partner in 1991 after we were all enriched by the Swiss bank takeover, ”when are you rich enough, Bill, to stop your grasping for evermore?” And clearly the senior partners sold out too early because of the fear engendered by the ‘87 crash and first Gulf war. Seems like for Bessent Lutnick and Trump it’s never enough.
That piece of kabuki theatre lasted what, barely a month, and crashed as hard as Liberation Day. What a farce.
H-Man, so for those on the bottom of the economic totem pole, what is a “living wage” in the U.S.?
It’s interesting that when the blue line goes below the white line seems to be around when we have recessions. I guess the “K” gets capitalized then.