NO WAGES FOR YOU!
from The Daily Mission Hosted by Greg Saurenman
Wages are "sticky". Once raised, they tend not to drop. Wages and benefits are also the largest cost a business has to cover. Yes, inflation is hitting our wallets. And further squeezing a huge swath of the American public. 👉🏼 50% of Americans do not own a single share of stock, or an index fund, mutual fund, or ETF. 👉🏼 40% of Americans report that they could not come up with $400 in the event of an emergency. 👉🏼 More American than ever are reporting living paycheck-to-paycheck, including 6-figure households 👉🏼 Credit card balances are increasing 📈 👉🏼 Household savings are decreasing 📉 💡 side note: these households need help w/lifestyle mgt, budgeting, planning, and cash flow / cash mgt Raising rates full-force, and as history shows - to the point of overshooting and "breaking something": ✅ will accelerate market selloff ✅ will send demand lower ✅ will increase unemployment And while it may work to: ✅ temper, slow down, decrease inflation ✅ help the American public with household costs ✅ help cool down a hot real estate market ✅ help deflate asset bubbles It also functions to help corporations and businesses in this one massive way: ✅ It helps keep them from having to raise wages further. And that hits the bottom line.
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