Labor Shortage: The Fed's Get Out Of Jail Free Card [Ep. 99]

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.