NO WAGES FOR YOU! - podcast episode cover

NO WAGES FOR YOU!

Mar 08, 2023•4 min
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Episode description

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. šŸ‘‰šŸ¼ 50% of Americans do not own a single share of stock, or an index fund, mutual fund, or ETF. šŸ‘‰šŸ¼ 40% of Americans report that they could not come up with $400 in the event of an emergency. šŸ‘‰šŸ¼ More American than ever are reporting living paycheck-to-paycheck, including 6-figure households šŸ‘‰šŸ¼ Credit card balances are increasing šŸ“ˆ šŸ‘‰šŸ¼ Household savings are decreasing šŸ“‰ šŸ’” 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": āœ… will accelerate market selloff āœ… will send demand lower āœ… will increase unemployment And while it may work to: āœ… temper, slow down, decrease inflation āœ… help the American public with household costs āœ… help cool down a hot real estate market āœ… help deflate asset bubbles It also functions to help corporations and businesses in this one massive way: āœ… It helps keep them from having to raise wages further. And that hits the bottom line.
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NO WAGES FOR YOU! | The Daily Mission podcast - Listen or read transcript on Metacast