Just read David Haggith’s latest about the truth leaking out about the FED NOW issues regarding payments. While he danced around the problem he didn’t want to get into specifics because some of his info hasn’t yet been verified by confirming other sources. That isn’t what I am referring to. He spends a good portion of his piece addressing the false issue of a strong economy and that the FED is making a mistake, because the job market isn’t really tight because so many jobs are being created, but rather because there is a lack of supply of workers. While I agree with some of his points he misses the SINGLE biggest reason for why there is a labor shortage. Yes, a small part is employers are trying to hold the line on larger wage increases and are forcing many workers to work overtime but that isn’t the main problem. It is because so many working age people have either died or become unable to work because of the COVID vaccinations. They are sick and disabled and not available to work. So as he correctly points out the FED has been overtightening interest rates thinking they needed to fight inflation caused by tightness in the labor market. The labor market is tight but the fact that quits have dropped off significantly shows it isn’t because people are leaving for higher wages elsewhere, they are fairly satisfied with their wage increases of the last two or three years. There just isn’t anywhere the number of skilled doctors, nurses, airline pilots, air traffic controllers, police and fireman etc. available who are healthy enough to meet the demands of those and other jobs. It is largely because of the vaccinations, plain and simple.