It’s a structural worker shortage, and jobless claims sitting near six-decade lows is exactly what you’d expect that shortage to look like on paper: a “low-hire, low-fire” economy where employers are desperate to hold onto the workers they already have. Put it all together: a demographic worker shortage forcing an automation super-cycle, financed the way all previous ones were — through real assets — while the institutions with the longest time horizon on Earth are already buying gold hand over fist. We are not securities dealers or brokers, investment advisers or financial advisers, and you should not rely on the information herein as investment advice.