Perhaps the economy is a lot like the weather – if you wait long enough, it has to get better.
As we’ve noted before, income inequality is likely to improve in the US and the rest of the developed world once the postwar “Baby Boom” starts to retire. With as much as a quarter of the population removed from the labor force, there will be more jobs to go around – perhaps even too many. Wages are likely to rise and opportunities for employment will be everywhere.
If that doesn’t sound good enough, recent studies have suggested that inflation is likely to be low as the population ages, meaning interest rates will remain low and capital is likely to be plentiful. It’s starting to sound like this Depression is going to end with a golden age. Seriously.