This is an ongoing debate in my circle of friends, family – some are workers .. and some are the check writers and owners. $40k – 1.2 …. no one is happy . I talk out both sides of my mouth as a check writer … I hire, fire and need human capital, use it. 1) Population demographics rules all, Baby boom – then bust – then bump – then bust again … and again. 2) Layer in the 300 – 400 years of needed immigration. You need staff. Ask your grand parents and great grand parents, they were the staff. Slavery? Pay disparity. Yikes 3) NO one likes to do crummy work. No One. Its hard, dirty and not profitable. 4) I am shocked over and over how little work, people do for themselves. By the time you get to a 4th generation “american” there seems to be a reset in skills and commonsense. 5) Layer in technology and efficiencies. Layer in “everyone to college” Regarding inflation – most commodities are sold by contracts into the future. The check writers and owners know this. Throw some doubt onto the future, layer in a pandemic / invasion, keep interest rates too low for too long. Fire people too fast and slow immigration. Then the traders around the world, change their tune – Instead of “I have only one tanker to sell” … – IT IS “I only have one more tanker Available ” If you do not see the difference, then shame on you. Lumber, Electricity, Grain, NG, Cars, Oil, Chips etc… Prices live or die on a traders desk, and it ripples /rolls from there.

Diverging Jobs Data Raise Questions About Labor Market Health