Pushing back a little: they are not now pro labour, they have been for the past years. The question is how long will they be able to keep this going given anemic growth (except for a few), higher interest rate costs + higher debts (thanks SAFE and rearming in EU)
The key is to increase nominal wages - this drive nominal growth, but reduces pools of capital, and eventually a higher cost of capital. It goes on until voters tire of it, and vote for austerity (see Argentina in recent years)
Market still often treats gold as inverse USD, even if USD is only falling slower. Maybe JPY, KRW, EUR, CNY et al plummet in a global bear and then when USD catches down, all manner of real assets take off.
Pushing back a little: they are not now pro labour, they have been for the past years. The question is how long will they be able to keep this going given anemic growth (except for a few), higher interest rate costs + higher debts (thanks SAFE and rearming in EU)
The key is to increase nominal wages - this drive nominal growth, but reduces pools of capital, and eventually a higher cost of capital. It goes on until voters tire of it, and vote for austerity (see Argentina in recent years)
Market still often treats gold as inverse USD, even if USD is only falling slower. Maybe JPY, KRW, EUR, CNY et al plummet in a global bear and then when USD catches down, all manner of real assets take off.