The bad news is productivity is lower while wages have increased. That is a cycle that needs to be stopped. Ideally by increasing productivity while increasing wages to out strip inflation. Add to that massive cuts in government spending and the Fed completely stopping printing money. The Fed needs to take money out of circulation and increase interest rates by about 20 fold compared to last week. Get this inflation crap over with!
No, the really bad news is that productivity isn't coming back any time soon. Now that I'm free from the aliminy extortion ordered by a corrupt court to pay and am no longer forced to be a tax and alimony slave, I'm retiring.
Done.
Kaput.
I'm joining the Great Resignation. I don't need to work anymore. Financially, I'm set -- even in this economic downturn.
And I don't care. I don't have to.
Who's my employer going to replace me with? I don't care. They're going to try and ship my job down to some stupid consulting firm in India where it takes 10-15 workers to equal the skillsets I've built up over the years, and it's going to take them 4-6x longer to do the things I used to do quickly.
And it's not just me. That's EVERYWHERE, especially in Financial Services. Productivity is falling because people who know what they're doing are quitting, and being replaced by know nothings.
Good luck!