By this terminal stage, the competent have been driven out, quit or burned out.
What happens with the competent retire, burn out or opt out?

Now that the US economy is totally dependent on trillions of dollars in stimulus and speculative gains reaped from the stimulus, there is no Real Economy left to pick up the pieces when the credit-stimulus-speculation bubbles all pop.

The net result of these dynamics is official unemployment can soar but employers will still be scrambling to find qualified, willing employees. The labor market is viewed as a sea of fluid workers.