If you stand on your head, close one eye, squint, and take a massive rip of DMT, it looks like we just might be brushing up against full economic capacity.
America gained 244,000 jobs in May, and 213,000 in June. Payroll growth has been down just slightly, but finally the number of job seekers has dipped slightly below the number of job openings. Meanwhile, inflation has been ticking up slightly. All around, there are at least faint signs of hope.
The year-over-year pace of job...
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