Just to sidetrack a bit...but here we are 8 years into ZIRP, the recovery has been anemic at best (mostly a massive asset reflation scheme)...There has been alot of "stealth inflation" since 2008, but don't expect to see those numbers anywhere (just do your own due diligence and you'll find it)...So, the common man has been completely decimated by an economy that has not replaced decent paying jobs and is forced to take on a measly hourly wage job, or a bartender/waitress economy style job...probably quite a few "commission only" jobs as well...
So if we are 8 years into this "recovery" and the Fed has done its best to eliminate the "peak's and trough's" of the economic cycle, it's just a matter of time before we are headlong into another recession, but this time with a whole host of $15/hr employees...Guess what? They're gone. Then we'll have another massive influx of out of work individuals back on public assistance...I can see what the govt has attempted to do with this mandatory wage hike..shift the burden off of the govt, but they do not have the economic growth required to make this work. It's fitting a square peg into a round hole and they know it. Bottomline: this will just accelerate the shedding of jobs the next go round.
So if we are 8 years into this "recovery" and the Fed has done its best to eliminate the "peak's and trough's" of the economic cycle, it's just a matter of time before we are headlong into another recession, but this time with a whole host of $15/hr employees...Guess what? They're gone. Then we'll have another massive influx of out of work individuals back on public assistance...I can see what the govt has attempted to do with this mandatory wage hike..shift the burden off of the govt, but they do not have the economic growth required to make this work. It's fitting a square peg into a round hole and they know it. Bottomline: this will just accelerate the shedding of jobs the next go round.
