So according to you, the 2008 recession was caused by... gap between productivity and hourly compensation?

also, comparing productivity to hourly compensation is a bad comparison because it entirely omits other forms of compensation (stocks, healthcare). if i try to compare total compensation to productivty using FRED, I get: https://i.imgur.com/ohabUFu.png, which seems to say the opposite? Total compensation seems to have outpaced productivity growth, at least starting from 2000.

You should actually read through that website. The gap between productivity and wages is only one of the charts on there. The thesis posits that both the 2008 recession and the productivity-wage gap is a consequence of the monetary regime that began in the early 1970s.

>The thesis posits ...

what thesis? The first link is a chart, and the second link is a collection of charts with a bunch of arrows, and a quote at the end. Neither be plausibly called a thesis, unless you're already to primed to believe it.

What do economists think about this explanation?

Yes. People getting paid fairly don't need ridiculously unreasonable loan conditions to buy a house.

The fact that you are bringing up stocks as compensation says a great deal.

Cool so I can have healthcare while I starve naked on the street cause I can't pay for food,clothing or housing with my insurance card.

FRED... oh man. You mean the private business that was created specificity to rob every person in the united states says nothing is wrong. In fact it is great? Cool....

Read https://www.amazon.com/Creature-Jekyll-Island-Federal-Reserv... If you really want to know what is going on.

> Yes. People getting paid fairly don't need ridiculously unreasonable loan conditions to buy a house.

certainly not due to other factors, say NIMBYism or more urbanization (more people crammed into the same piece of land)

>The fact that you are bringing up stocks as compensation says a great deal.

Well? What does it say?

>Cool so I can have healthcare while I starve naked on the street cause I can't pay for food,clothing or housing with my insurance card.

I'm not sure what your point here is. Are you upset that employers are compensating employees on a non-cash basis?

>FRED... oh man. You mean the private business that was created specificity to rob every person in the united states says nothing is wrong. In fact it is great? Cool....

if you look more carefully you'll see the actual data is sourced from the BLS.

I guess you are just an apologist for the sociopaths that have taken control of everything.

Spoiler: US Government spent more money than they had in gold reserves culminating in the breaking of the Bretton Woods agreement with European nations. The USD from 1973 became a fully fiat currency. So yes, if it deals with the US economy after 1970's, as the graphs indicate, it's inseparable from USD inflation most likely caused by government spending.

https://en.wikipedia.org/wiki/Nixon_shock

While valid for a lot of industries, I'm not sure the productivity of driving a truck from A to B doubled since the 70s

Probably at least a little: logistics has improved substantially since then. Also the value of the stuff in the truck is up, I'm not sure how that plays in.

the opportunity cost still would.

Hi, I took the time to try to answer your question in https://news.ycombinator.com/item?id=28893728; would you be willing to clarify?

the "bitcoin will save us" at the bottom...

What did it look like before 1950?