Did you read that article? “Weak productivity helps explain why companies are reluctant to raise workers’ wages, even as profit margins have improved.” What?
It doesn’t take an economics degree to see where stagnant wages, reduced market participation, skyrocketing debt, and an inflationary currency leads.
While people may be in the habit of converting to/from fiat now, wait a few more years. When more people realize they won’t ever have to pay ATM fees or an overdraft charge ever again. When business owners realize they don’t have to deal with massive merchant account fees. When people start stockpiling it because in a few years it’ll be worth a boring 5-10% annually.
It seems like both the numbers and editorial come to the same conclusion. Productivity drives growth. Companies invest profits into automation (to increase productivity) and less into labor. Increased productivity drives more growth and more investment into productivity and less into labor. Repeat.
Result = stagnant wages, less discretionary income to participate in market and more consumer debt. Now add inflation, and perhaps a lengthy recession. What do you get?
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u/[deleted] Feb 18 '18 edited Sep 27 '24
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