“Sidenote: The Fed never worries about an “acceleration” of profits, only wages.”
(i think this piece by @FabiusMaximus01 is basically right, but of course the data say otherwise, right?)https://fabiusmaximus.com/2020/01/16/employment-unemployment/ …
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That was not my point here. For monetarism there exist not really a problem of "money used for non GDP transactions". "Stability of price" but not for the price of assets. So there is a leak coming with "acceleration of profit". The result of this is interesting. /1
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The money circulating within real economy is "low", and at the same moment (or some time before) when "full employment" would lead to higher wages at the bottom because of shortages there is an investment trap/downturn. So employers never have to worry about labour market. /2
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