The Federal Reserve is reassuring us daily that
inflation is temporary, but allow me to assure you that
wage inflation is just getting started and will accelerate rapidly. As I noted yesterday, the Fed can create currency out of thin and funnel it to financiers, but the Fed can t create experienced, motivated workers out of thin air or entrepreneurs with the chops to launch and sustain real-world enterprises.
Let s start with a funny little thing called
competition, which has been pushing wages down for the past 50 years. Globalization means
you re competing with every other worker on the planet for jobs in tradable goods and services, and mass immigration and relatively high birth rates means there have been more potential workers than secure jobs.
The Federal Reserve is reassuring us daily that
inflation is temporary, but allow me to assure you that
wage inflation is just getting started and will accelerate rapidly. As I noted yesterday, the Fed can create currency out of thin and funnel it to financiers, but the Fed can’t create experienced, motivated workers out of thin air or entrepreneurs with the chops to launch and sustain real-world enterprises.
Let’s start with a funny little thing called
competition, which has been pushing wages down for the past 50 years. Globalization means
you’re competing with every other worker on the planet for jobs in tradable goods and services, and mass immigration and relatively high birth rates means there have been more potential workers than secure jobs.
Among the difficulties of entering uncharted macroeconomic territory, where daily transitory changes cause wild volatility in all corners of the market, is documenting key themes as they emerge.Â
One of the better analyses of the current market environment that we have read has come from Bloomberg Opinion writer John Authers. In a piece published on Friday, Authers lays out two key market themes heading into the end of Q2:
The developing problem of inflation, especially as it relates to the cost of food, in emerging markets.
How Elon Musk has, alongside of all of his devotees and disciples, placed himself firmly on the wrongside of what could be a serious coming market correction.Â
The Take This Job and Shove It Recession – Investment Watch investmentwatchblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentwatchblog.com Daily Mail and Mail on Sunday newspapers.
Originally published on December 21, 2020 10:57 am
Jeanne Bradley, a Republican voter from Hephzibah, Ga., is confused by the mixed messages she s hearing about the election and about her state s GOP leaders. We need to know more. You re getting bits and pieces from all of the news media, and you don t know what to believe anymore, she said. And it s not just the news media. It s people in general.
It s also President Trump.
He narrowly lost the state to President-elect Joe Biden, but he s rejected that outcome and continues a pressure campaign on Georgia s Republican leaders to overturn the result.
Trump has called Gov. Brian Kemp, a longtime ally with whom he has had some previous tensions, a clown and a fool, and he has referred to Kemp, Lt. Gov. Geoff Duncan and Secretary of State Brad Raffensperger as Republicans in name only.