American Economics Thread
- Thread starter Bernard
- Start date
Or it could be a really bad sign of stagflationary pressure.
Hendrik_2000
Lieutenant General
Hendrik_2000
Lieutenant General
My first summer job was working for Hamburger chain as meat flipper back then Hamburger cost a quarter now is like $2.50
This is just wishful thinking. The reason why wage growth is slowing is because the US labor market is weakening.
Currently the US economy is under a three pronged assault.
You have rising inflation that is eroding the purchasing power of the currency.
You have higher interest rates that is making it more difficult for households and businesses and eventually the government to service and refinance their debts.
And you have asset price declines in the bond, stock, crypto currency and eventually the housing markets that comes down to wealth destruction.
And there is no solution in sight to America's problems because in part its leaders are in denial about them.
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They have to sedate the American public with this kind of headlines, otherwise the American public (who live paycheck-to-paycheck) will be like
