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Weisenthal on the end of the US growth miracle
"So if you just think about the current state of the US economy, there's something vaguely futuristic about it. A very tiny handful of people getting generationally wealthy (and powerful). A broad swathe of people seeing their personal balance sheets improve, because the stock market's been so hot (you could argue that the stock market has become something of a privatized UBI for people fortunate enough to have bought in). And then the only areas of actual widespread jobs growth being in areas that are tied to aging and health, much of which is sustained by widening deficit spending.
What we're not seeing is any kind of general expansion in activity across the economy."

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A WORRISOME *FUTURISTIC* JOBS REPORT:
In the newsletter, I wrote about today's labor market data, and how it was not only bad, but bad in a specific way that could portend a more ominous direction of the economy


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