Loading ...Whats the big deal? For 40 hours its $720/week. That means you can afford $720/month mortgage, or $720 monthly rent. Or was it the weekly take home pay to cover one month?
CHICAGO, Sept 2 (Reuters) – Walmart Inc’s (WMT.N) move on Thursday to give 565,000 of its U.S. store workers raises of at least $1 puts the spotlight on the industry’s tight, competitive labor market as the all-important holiday shopping season is set to kick off.
“When Walmart touts its average pay at $16.40 an hour, it distracts from the reality that its business model still relies on poverty wages,” said Cynthia Murray, 65, a 20-year Walmart worker from Laurel, Maryland, and a member of labor group United for Respect.
Comment:
Do any of you remember me saying long ago that if the Gov’t won’t raise the entry level wage to something logical, that at LEAST they need to encourage people to get OUT of the workforce if they are well off and don’t really need to work anymore. And or give tax incentives to those people to leave?
Well the COVID thing is doing the trick. Also note, in the past, when the Fed and Gov’t was afraid of inflation they would raise interest rates to slow inflation. Well this COVID thing did the same thing as high interest rates.
Also note, the Dow SnP and real estate have been flying like Silver and Gold during the entire 1970s. When the Fed raised rates to stop the speculation, and the dumping of Dollars for inflation hedges, the collapse in prices of antiques collectibles gold and Silver etc was a HUGE CONTRACTION of people and gov’t money supply, like a big sponge mop. Enabling them to continue printing.
So don’t be surprised if the Dow, SnP and Real Estate start dropping, like AU and AG in the ’70s, and create another HUGE CONTRACTION of people and gov’t money supply, into “money Heaven” like a big sponge mop of excess wealth. Much of it undeclared income savings. Enabling them to continue printing.