So, you are saying the Fed hawks are lying to Kashkari? There is a pattern of clipping wages as is seen here: www.talkmarkets.com/.../kashkari-reveals-dark-secret-fed-plan-for-wages And if Kashkari says that the hawks want to clip wages I see no reason why not to believe him.

But you left out Kashkari's major point, that the hawks want to clip wages. That is why they want to raise rates. Do you really think wages need to be clipped at this time, Michael? They are high in real terms because there is no inflation, not because there is a wage price spiral.

Disposable income is growing, but at a far slower rate than before the Great Recession.

Well, until the Great Recession this substitution for labor has made us better off. We could be coming to a time in history where that is no longer the case as we have a core group of chronically unemployed. The goal of certain futurists and eugenicists is a mass culling of the global population. While it is a radical idea, it is an idea carried by many key elites. It also means that eugenics is not dead. We have a president who refuses to say white supremacy is evil. How far all this goes to the dark side is a concern. It is time to give these white boys who are filled with hate and despair some jobs. I don't have the answers, but the problems are becoming obvious.

Interesting article, Prof. No, inflation is a phony issue, but wage inflation must be simply an irrational fear on the part of the Fed. One thing about the article, more robots will likely just hurt labor's percentage of GDP even more, creating real problems for the Fed.

You can ride in an autonomous car to the airport, but I will pass on that. And insurance companies can be deceived by autonomous car charlatans too. The idea that Las Vegas would no longer have cars is absurd.

If they have a Dave and Buster's and entertainment their chances of survival increase.

Well, prof, I knew that the Fed liquidated in the Great Depression and Great Recession. I know manufacturing jobs that declined from over 20 dollars per hour to under 15 in the Great Recession. What I didn't know is that smaller declines happened after the run up to every recession. There is a pattern here regarding Fed behavior, and I don't like it. I understand there are other reasons for pruning back, to slow bubbles in stocks, etc. But it is a nice benefit for the capitalist when wages decline too.

Oh I agree. But I do think they have nefarious thoughts. I wrote this awhile back and don't know if you saw it: www.talkmarkets.com/.../stock-markets-fear-the-fed-more-than-war The chart and Yglesias make for a compelling case that the Fed does prune and does so to help capitalists over labor.

Perhaps the Fed wants to weed out weak companies and clip wages and not go too negative with rates while doing that next downturn.