Loading ...This morning on TV there was a report, saying 25% of all shopping malls will be closed within five years. There’s a lot of employees in retail. Recently I was talking to an employed house painter, for the past eight years. After asking him what his prior occupation was, he tells me a Bond Trader on Wall Street.
Today, I was talking to the employed grounds keeper, employed for past two years. I ask this guy the same thing, what were you doing?? re prior occupation. He said he was a jeweler. Self employed. Both said they went down hill after 2008 crash. Bottom line a big part of the old middle class population have taken pay cuts. Deflation in wages, means deflation in tax revenue, note $19 Trillion shortfall in taxes on the tab.