Stores don't order merchandise unless they think they can sell it right away. Manufacturers and builders don't produce unless they have buyers lined up. My business contacts describe this as a paradigm shift and they believe it's permanent.
Janet YellenThe distribution of wealth is even more unequal than that of income. ...The wealthiest 5% of American households held 54% of all wealth reported in the 1989 survey. Their share rose to 61% in 2010 and reached 63% in 2013. By contrast, the rest of those in the top half of the wealth distribution ยfamilies that in 2013 had a net worth between $81,000 and $1.9 million ยheld 43% of wealth in 1989 and only 36% in 2013.
Janet YellenProductivity growth, however it occurs, has a disruptive side to it. In the short term, most things that contribute to productivity growth are very painful.
Janet YellenWill capitalist economies operate at full employment in the absence of routine intervention? Certainly not.
Janet Yellen