After three-and-a-half years of ho-hum on this front, there is renewed interest in interest rates: where they are going, how fast, and what we need to do to be prepared, if change is indeed in the wind. A lot of the talk is related to another 'up' that scares us: inflation. Talk of rising interest rates is very good news, since it strongly suggests higher confidence in near-future growth.
There's a clever-sounding phrase that has repeatedly wreaked havoc with the macro economy: "It's different this time." It's all over the place now, couched in neatly nuanced narrative about our "new normal." Is it once again misguided advice, or is there good reason to believe that this time really is different?
When was the last time you called in sick? Was it just a case of the sniffles? Were you flat on your back? Or did you go golfing and not want to use a vacation day? Did you feel guilty about leaving your co-workers to cover for you? Did you take as few days as possible, knowing someone else had to pick up the slack in your absence? Chances are if you work in the private sector, your answers are very different from those of some government employees.
Taken as a whole, very high CEO to worker pay ratios can signal systemic wealth disparity. CEO pay has been outstripping executive and worker pay year over year by a wide margin because of structural issues related to "peer group benchmarking" (the very way CEOs are paid). This structural pay inequity is unrelated to CEO performance.