Mean reversion is an important concept in economics. It explains the business cycle, and it reveals a problem in disposable income data. If real income growth remains in negative territory, it will change how consumers think about the economy. Negative sentiment will drive decisions. That has historically been bearish for the stock market.
Millennials are just like any other generation. That might conflict with their self-image, but every generation is more like previous generations than they are different. Their so-called “Great Resignation” isn’t special either. Data indicates it is just like every post-recession recovery.
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