Posted on Oct 9, 2021
Thanksgiving turkey and Christmas tree options will be sparse this year — here's why
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Posted 3 y ago
Responses: 2
What I saw is how the stopping the extra stimulus backfired. In my town, we have a grocery store and a pizza joint that only pays minimum wage to their front line workers. And the grocery store hires high schoolers for even less than that. And you wonder why people don't work when the chambers of commerce in America play GOP politics. American workers are tired of being screwed over on wages so a few non tax paying big shots can buy politicians and continue to rake it in at our expense and national debt.
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What is scary is sustained low inflation is the glue that is keeping our financial house of cards stable. Once that shifts to much higher sustained inflation we have to pay much more in interest on the National Debt. Congress instead of cutting spending will opt to borrow more money to cover the higher interest payments to mask the problem and maintain spending per their favored programs year over year. Which means the amount we have to borrow each year starts a rapid unsustainable "runaway" climb as now we are borrowing not only additional capital but the interest on that capital borrowed is also being borrowed and will increase dramatically each year. So depending on how long this inflation rate is sustained could be cause for serious concern and when you hear the FED tell everyone not to worry they do not feel inflation at the 4-5% and higher current rate is sustainable......you should be really worried. Because inflation is one aspect of the Economy the FED has repeatedly mismanaged and been wrong about.
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