Neil Dutta

And Denise Chisholm was on last week talking about falling unit labor costs, being a tailwind for the stock market.

Great for the stock market, pretty shitty for society.

So Greg said, to understand why people are so miserable about the economy, look no further than Thursday's report on gross domestic product, not how much GDP grew, but how it was divvied up.

worker compensation, wages, and benefits grew 0.8% in the first quarter, while domestic corporate profits jumped 2.7%.

Daniel, charts on, please.

As a result, labor share of gross domestic income sank to 51%, the lowest since records began in 1947, and profit share climbed to 12.1%, the highest since 1950.

So just go back and forth between these charts.

So this is corporate profits basically hitting all-time highs.

And the flip side of this is wages just not getting

not getting their fair share.

And this is ripping the country apart.

Is this not being accounted for properly?

Or do you think like this really is the story?

But this is very much impacting the political landscape and how people vote.

And this is like a huge part of the story.

Neil, do you think that those lines, forget about converging, do you think they stop diverging?

Is there a breaking point?

Where else is it?

So areas, all right.

Kevin Warsh.