Yea it’s a dangerous place to be in. I think partly to blame is the lack of honesty about the “Heater” economy that was pumped by folks who were looking to spin the economy/inflation for Biden, when talking about jobs and labor market and job growth (not saying that was you).
When the majority of the growth (80%) is in garbage jobs like low pay service jobs at holiday inns and McDonald’s of the world and (20%) a handful of speculative and bubble companies, you get situations like yesterday where depending on how nvidia’s Q4 went, either the market will completely tank or will be okay. Thats a dangerous position to be in!
The lack of the white and blue collar jobs that the middle class historically depended upon is dangerous. They are endangered. And so the billionaires have outsized influence (and the digital labor revolution, if it comes, will be the death knell).