More likely is just a wave of bankruptcies for those firms that can't afford the labor they'd need. Then, all those unemployed people cut back on their spending and cause more bankruptcies.
Fed printing basically backfills the demand loss and prevents a full correction.
I don't think unions will skyrocket.
More likely is just a wave of bankruptcies for those firms that can't afford the labor they'd need. Then, all those unemployed people cut back on their spending and cause more bankruptcies.
Fed printing basically backfills the demand loss and prevents a full correction.