Everyone expected a recession. The Fed and White House found a way out

Re:Everyone expected a recession. The Fed and White House fo... by toomuchtodo on Monday December 25, 2023 @12:47PM (#38764497)

Unless you’re going to magic into existence millions of workers who died or left the labor force during and after Covid (10k boomers retire per day, a health economy creates 100k-200k jobs per month, 1.8M people over 55 die every year, about half of which are in labor force participation), this call is already made. The labor market is tight because of structural demographics, which this administration lucked into. Right place right time.

“Demographics are destiny.”

https://recruitonomics.com/demography-is-destiny/

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Re:Everyone expected a recession. The Fed and White House fo... by thr0way120 on Monday December 25, 2023 @01:18PM (#38764755)

Having fewer people and shrinking population is bad for the economy in all cases.

Except if Robots & AI & Longevity medicine cause a radical revaluation of labor and humans start to live forever (work forever) and AI causes radical deflation in all core administrative services.

It is possible that is exactly what will happen. Cathie Wood thinks so, anyways.

Demographic collapse seems ominous, but technology superadvancements offsets it. More than offsets it with AI.

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Re:Everyone expected a recession. The Fed and White House fo... by toomuchtodo on Monday December 25, 2023 @01:46PM (#38764973)

If people live better lives because of a compressing demographic pyramid (causing scarce labor to drive up wages and people not having unintended or unwanted children that would’ve otherwise become future underpaid and unappreciated labor), let the economy get wrecked. “Starve the beast.” It’s certainly not doing anyone who isn’t exposed to investment vehicles any favors (see down thread convo about stagnant economics in developed nations [1]).

[1] https://news.ycombinator.com/item?id=38759956

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