Today’s jobs reports showed that labor force participation did not improve since May and remain substantially below pre-Covid levels.
Over the longer term, we can see that M2 Money Velocity peaked around the same time that US labor force participant peaked (1997). And it has been downhill since 1997 with Covid accelerating the decline.
So, it is not just Covid that is killing money velocity and labor force participation. I wonder if The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, had anything to do with M2 Velocity getting crushed?
Nothing has been the same since The Clinton Administration and 1997.
- It’s Impossible to State How Bad Things Actually Are
- It’s Going to Take Some Very Cool Heads to Keep the Blinken Administration from Destroying the World
- Europe Now Talking About Mobile Phone Network Blackouts
- Worse Than Katrina? It Appears That We Just Witnessed The Most Costly Natural Disaster In U.S. History By A Wide Margin
- India Banks SHUTDOWN For 20 Days
- Putin Annexation Speech (Paraphrased) After Winning in Ukraine
- The Fed Tries and Fails to Hide This Brutal Reality
- There are so many market indicators that we are heading towards a major financial crisis
- This is what’s happening in Democrat run cities. (GRAPHIC)
- All signs point to something huge to happen in next days!