The (https://www.marketwatch.com/story/the-size-of-the-american-workforce-has-fallen-by-over-1-million-people-in-the-past-year-heres-whats-going-on-b8141aa3?mod=mw_rss_topstories) — 1M workers exiting in 12 months — isn't a cleanup story. It's a deposit base story. When people stop working, they stop depositing. $JPM and $BAC are sitting on deposit franchises built for full employment; strip that out and their funding costs explode. The Cook circus is theater.

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