New Deal Democrat — Refinancing is dead: a generation of Hard Times will continue until secularly real wages improve

So the bottom line is, we are already in a period – a period that I expect to last an entire generation – where real gains by average Americans won’t be available from financing gimmicks, but must come from real, actual wage growth. At the moment I see little economic or political impetus to make that happen, even though average Americans understand via their wallets the issue all too well. Eventually it will happen, but I believe between now and then is another recession, one that I fear is likely to be worse than the 2008-09 recession because it is likely to include a spasm of wage-price deflation.

Angry Bear
Refinancing is dead: a generation of Hard Times will continue until secularly real wages improve

New Deal Democrat

See also

Nordic Enterprise Trust
Towards an Economics of Common Sense

Chris Cook