Rickards: You can't grow the real economy with falling real wages

Jim Rickards - Twitter, Released on 10/7/22

Hot employment report? Yeah. But look at wages. They were +5.0% year-over-year. That's nominal. When you subtract 8.0% inflation, real wages went down 3.0%. That's a persistent trend. You can't grow the real economy with falling real wages. pic.twitter.com/dfsFZRgL1y

- Jim Rickards (@JamesGRickards) October 7, 2022

Jim Rickards is a lawyer, investment banker and economist with over thirty years' experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is The New Great Depression: Winners and Losers in a Post-Pandemic World.

Rickards: You can't grow the real economy with falling real wages added by Herman James on 10/07/2022View all posts by Herman James ?+'