Share this postReturn to Normalcyironsidesmacro.substack.comCopy linkFacebookEmailNoteOtherIronsides Macroeconomics 'It's Never Different This Time'Return to Normalcy0:00-12:58Paid episodeThe full episode is only available to paid subscribers of Ironsides Macroeconomics 'It's Never Different This Time'Subscribe to listenReturn to NormalcyWage gamechanger, asset deflation and QT, a bank credit deep dive and a return to normalcy in labor markets.Barry C. KnappJan 09, 2023∙ Paid2Share this postReturn to Normalcyironsidesmacro.substack.comCopy linkFacebookEmailNoteOtherShareThis audio summary focuses on our January 7 note, Return to NormalcyFigure 6: The drop in private sector average hourly earnings is being driven by service producing industries. Interestingly, manufacturing average hourly earnings have firmed up even as PMIs moved into contraction territory. We suspect the inventory destocking cycle is nearly complete a…This post is for paid subscribersSubscribeAlready a paid subscriber? Sign inIronsides Macroeconomics 'It's Never Different This Time'Macroeconomic and public policy strategyMacroeconomic and public policy strategySubscribeListen onSubstack AppSpotifyRSS FeedAppears in episodeBarry C. KnappRecent EpisodesUnhealthy Broadening OutApr 22 • Barry C. KnappMacro Regime ChangeApr 15 • Barry C. KnappHigher and SteeperApr 8 • Barry C. KnappFiscal on FireApr 1 • Barry C. KnappItching to EaseMar 25 • Barry C. KnappStag WeekMar 18 • Barry C. KnappQuadrilemma Back on TrackMar 11 • Barry C. KnappLabor Market ConundrumsMar 4 • Barry C. Knapp