Your raise used to go offshore. Then it went to a buyback. Now it’s going to a data center
Goldman Sachs strategists have identified a shift in economic cycles, moving from a "Modern Cycle" characterized by globalization and buybacks to a new era defined by rising interest rates and geopolitical fragmentation. This transition, detailed in their paper "The Post Modern Cycle, Navigating the Capex Boom," suggests a significant increase in capital spending across various sectors. The report highlights that for the past four decades, corporate profits and shareholder returns have largely come at the expense of worker compensation, with wealth flowing offshore or into stock buybacks. AI
