<story><title>Can the West’s perplexing employment miracle continue?</title><url>https://www.economist.com/finance-and-economics/2023/03/05/can-the-wests-perplexing-employment-miracle-continue</url></story><parent_chain><item><author>flkiwi</author><text>Historians in 500 years will stare in wonder at the stunning evidence we did not, in fact, build ALL the infrastructure, physical and otherwise, during the last ~25 years of absurdly cheap money.</text></item><item><author>bluGill</author><text>This isn&amp;#x27;t a high interest rate ecconomy, this is normal interest rates. Rates have been absurdily low for a while so you may not remember it, but history provides a record.</text></item><item><author>mkl95</author><text>We have gone from a zero interest rate economy to a high interest one within months. Whoever claims to accurately predict what&amp;#x27;s going to happen in the next few years is talking out of their ass. We know inflation should start decreasing within a year or so, but you cannot predict how millions of people will react to suddenly not being able to afford stuff.</text></item></parent_chain><comment><author>umeshunni</author><text>Most of the world&amp;#x27;s infrastructure was, indeed, built in the last 25 years. 
It&amp;#x27;s just that it wasn&amp;#x27;t in the West.</text></comment>
<story><title>Can the West’s perplexing employment miracle continue?</title><url>https://www.economist.com/finance-and-economics/2023/03/05/can-the-wests-perplexing-employment-miracle-continue</url></story><parent_chain><item><author>flkiwi</author><text>Historians in 500 years will stare in wonder at the stunning evidence we did not, in fact, build ALL the infrastructure, physical and otherwise, during the last ~25 years of absurdly cheap money.</text></item><item><author>bluGill</author><text>This isn&amp;#x27;t a high interest rate ecconomy, this is normal interest rates. Rates have been absurdily low for a while so you may not remember it, but history provides a record.</text></item><item><author>mkl95</author><text>We have gone from a zero interest rate economy to a high interest one within months. Whoever claims to accurately predict what&amp;#x27;s going to happen in the next few years is talking out of their ass. We know inflation should start decreasing within a year or so, but you cannot predict how millions of people will react to suddenly not being able to afford stuff.</text></item></parent_chain><comment><author>marcosdumay</author><text>Well, maybe in 500 years people will have an explanation for why people don&amp;#x27;t create fundamental things in low-interest times. Lasting investment seems to be very strongly and positively correlated with rates.</text></comment>