Keep in Mind, the Fed and the Government are not in control of Final Demand

A lot of optimistic talk at the moment on the economy coming back to normal. That is what it is, Talk.

What would be Important…

In a different world, hopefully in 2021, is leadership that understood that we need to rethink the economy. The time when a country can support 85 % of the people not producing anything is over. Over maybe the last 75 years we have seen the percent of people in the service sector rise from 25 % to around 85 %. That is not workable anymore. People need leadership that can outline new directions, people will need to do more for themselves, and work with others in community, in order to have their general needs met.

That will require support and re-education.