G-Star Astrology

(1) Wish upon an r-star and g-star. (2) Ranting about Fed’s reliance on astrology. (3) Business output outpacing real GDP by a full percentage point. (4) More potential for growth if labor shortages stimulate labor-saving innovations. (5) Fed’s pause may be justified even if economic growth picks up over the rest of the year. (6) Not much cost-push inflation from labor markets. (7) Pensions are underfunded, especially government-sponsored ones. (8) Lots more millionaires hiding in public sector. (9) Life is exceptionally good if you can retire at 50 and live until 90.