Loading ...If the wrong thing hits the news, it will go down. Plus, the old “sell in May and go away” thing might happen too. Real estate I think is looking weaker. Not selling so fast, and people lowering asking prices lately. Soon after listing.
I hear car sales are lower too. I’m seeing a growing number of vacant apartments available for rent on Zillow in my area. All this with TPTB’s foot down hard on the gas peddle with 4% low mtg rates. Back in the ’70s they blamed inflation on wages being too high, and called it “the wage price spiral.”
They SUCCEEDED in lowering taxpayer wages, but they did NOT succeed in lowering tax ABSORBER wages, and hence, here they are, now complaining about stagnant and lower taxpayer wages. And entire sector of the population in the 18-24 year olds, can’t contribute to society.
Minimum livable wage should be different in each county, by calculating the minimum cost of food and shelter, like a studio apt, cost and maintenance of a 10 year old used car, weekly groceries costs etc.
Raising the minimum, the “pecking order” would raise all the other wages in unison. The net result would be equal to removing a tax “subsidy” from employers with employees on food stamps etc. Or like adding a tax to employers that use the natural resource of US Labor.
Businesses that are just getting by, with artificially cheap labor, will go bankrupt, and no longer be competition against other businesses. Good. Businesses need big profits. Profitable stingy businesses will just make less profit, like an added tax.