![Labor Shortage: The Fed's Get Out Of Jail Free Card [Ep. 99]](https://img.transistorcdn.com/8KcLxbozgGc28tSKGK12tj2NccnhEENO-ynl9SIpAn4/rs:fill:0:0:1/w:1400/h:1400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9lcGlz/b2RlLzY0ODk3Ny8x/NjMxNTMxNDEyLWFy/dHdvcmsuanBn.jpg)
Labor Shortage: The Fed's Get Out Of Jail Free Card [Ep. 99]
Labor force participation versus unemployment. Also, labor shortages - are they what we're told? Lastly, the US dollar continues to gain value - a bad sign for the global economy.
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Show Notes
PART 1: 'Maybe the economy isn't in as good a condition as you economists / academics / technocrats think it is,' says the labor force participation rate. 'The economy is in fantastic shape,' says the unemployment rate. Which one is correct?
PART 2: Labor shortages are normal, at the microscale, from time to time, in this or that industry. Yet since 2008, establishment economists use "labor shortage" as an excuse to: A) support a misleadingly low unemployment rate and, B) explain away the participation problem.
PART 3: In 1971, US Treasury Secretary John Connally told a group of European finance ministers that the US dollar "is our currency, but your problem." Half a century later, the problem has grown bigger encompassing the whole world. A world that is short of dollars.
-----SEE EPISODE 99-------
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
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----EP. 99 REFERENCES----
Just In Time For Labor Day: It’s Not Payrolls Missing The Mark By Such A Wide Margin: https://bit.ly/3lc1k2j
Bad-Monetary-Joke Twitter: https://bit.ly/3A3RHZN
Turning The LABOR SHORTAGE Up to 11: https://bit.ly/3hifOww
The Eurodollar’s Nose: https://bit.ly/2X6LApB
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7
-----------WHO-------------
Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the top hat of illustrated monetary satire, David Parkins. Podcast intro/outro is "Nite Glo" by Molife from Epidemic Sound.