The Dow is basically at its pre-COVID level and so’s the NASDAQ. Basically, assets that were artificially inflated by herd speculation during COVID are starting to return to their normal values, and items that are necessary (housing, transportation devices, food, clothing) are likely to follow.
It will actually be a good thing to have a slightly higher unemployment rate — right now, employers that provide public services but tend to have average pay (schools, universities, research, government, public transit, airlines, transportation, food stores) are having trouble finding workers. Being north of full employment is actually worsening many of the supply chain headaches that we’re suffering.
