Independent thinking for complex markets and current events
Seattle introduced a mandatory $5 fee on delivery apps to cover their driver’s living wage and sales were almost cut in half. Now the drivers can’t make rent. pic.twitter.com/gOZmX1vvwX — Chef Andrew Gruel (@ChefGruel) February 5, 2024
Amidst a cost-of-living crisis in Britain, London experiences a 23% surge in rough sleepers. Mayor Sadiq Khan calls for urgent government intervention as emergency accommodation usage rises. Strikingly, 242 newly-granted refugees report homelessness after leaving government-provided shelter. Meanwhile, in Germany, thousands of doctors and medical center employees strike against low wages and high costs, underscoring …
HERE WE GO AGAIN? ‘Bidenflation II: Fiscal Boogaloo’ Another Sequel Nobody Asked For. Just when wages were finally starting to catch up with Biden’s first round of inflation, too. If there’s any good news to be found in this mess — and you really have to squint to see it — it’s that the job market …
Autoworker strike cost GM $1.1B, a cost it says it can absorb as it announces massive stock buyback General Motors says pretax earnings took a $1.1 billion hit this year due to a six-week strike by autoworkers, but the company expects to absorb increased labor costs and have enough left to buy back stock worth …
by Chris Black You can’t buy a standard menu meal under $12 at Wendy’s. A box of Corn Flakes with about five real servings is $6. Gasoline is still over $3.00 a gallon. Car insurance almost costs as much per month as the car you’re insuring. Health insurance costs more than a $350k house. Forget …
Fast-food workers in California will start making at least $20 an hour in April due to a compromise between the restaurant industry and labor groups. Both McDonald’s and Chipotle Mexican Grill said customers in California will pay more to offset the rise in labor costs as a result. McDonald’s CEO Chris Kempczinski said the …
by confoundedinterest17 Paul Krugman, Nobel Laureate in economics and media celebrity, made a terrible claim yesterday when he pronounced that “The war on inflation is over. We won, at very little cost.” Krugman’s proclamation was trumpeted by The View’s Joy Behar Joy who claimed that everything is going great in the country! The economy is …
President Biden was criticized on social media for hosting a barbeque while Hamas terrorists continue attacking Israel through the weekend. The war, which began early Saturday morning on the holiday of Simchat Torah, has killed at least 1,100 people so far. More than 700 people were found dead in Israel, with at least 400 other …
Keep printing. You wanted "free money" from government? You got lower real wages. Unemployment and real wage growth. @OECD pic.twitter.com/Xph5GwZRqt — Daniel Lacalle (@dlacalle_IA) August 8, 2023
by confoundedinterest17 Biden Press Secretary KARINE JEAN-PIERRE: “The American people are beginning to feel Bidenomics” Prices are up 16.6% and real wages are down 3% since Biden took office. Well, at least Jean-Pierre didn’t claim like her boss Joe Biden claimed that he “ended cancer as we know it.” But getting back to Jean-Pierre’s claim that …