Ted Slocum

Absurdity, gambling, mindfulness, programming, golf, well-being, and my opinions.

01 Nov 2021

Prediction on Economics

While I generally like to stay away for predictions, I think it is important to catalog the predictions I do have in order to calibrate how wrong I tend to be about the future. Here is my prediction on economics over the next five years in the United States:

  1. Inflation will happen. The average cost of goods will go up at least 25%.
  2. The current labor issues are not temporary (high unemployment and high unfilled jobs). Wages will need to go up dramatically in order to fill jobs that people don’t want to do.
  3. Technology will come to the rescue. Meaningful automation will happen across the board because labor-cost will be so high.
  4. The middle class will somehow get screwed.