> Or do wages become a rounding error when you add in stuff like real-estate and loans?
In the US - debt is >30% of the economy (government deficit, new corporate debt, new mortgages, and personal auto & student loans). But non-debt still makes up the majority - so I don't think everything becomes a rounding error compared to debt.
The interest rate has to be the single most important variable - but wages aren't a rounding error.
In the US - debt is >30% of the economy (government deficit, new corporate debt, new mortgages, and personal auto & student loans). But non-debt still makes up the majority - so I don't think everything becomes a rounding error compared to debt.
The interest rate has to be the single most important variable - but wages aren't a rounding error.