Labor Day is coming up. That means we will hear a lot about the plight of American workers. And we will undoubtedly hear calls for new policies to help make their lives better. But we don’t really need more government policies to help workers.
We need better money.
Inflation continues to eat up your paycheck.
For the 21st month in a row, average hourly earnings failed to keep up with rising prices.
President Joe Biden claims wages are rising faster than prices.
It might be unfair to say he’s lying, but he’s certainly misrepresenting the facts.
The fact is price inflation continues to eat away at your wages.
Inflation is raging. The economy is teetering on the brink. Government spending is out of control. All of this has a root cause. Our money is broken. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about what broke our money and the only way to fix it. He also reveals the illusion of rising wages and breaks down Whoopi Goldberg’s inflation blame game.
Consumer sentiment plunged to record lows in June. The plummeting consumer sentiment numbers surprised mainstream analysts but they shouldn’t have given Americans are taking a pay cut month after month thanks to red-hot inflation.
Despite the biggest increase in average hourly wages for production and non-supervisory workers in 40 years, these people are actually worse off.
Why?
Rising prices are eating up their income gains.
I’ve got good news and bad news.
The good news is you probably put a little more money in your pocket in November.
The bad news is inflation ate up all your income gains and then some.
Real personal incomes fell 0.2% in November despite a healthy gain in nominal income.
Peter Schiff recently appeared on RT Boom Bust, along with Investor’s Advantage Corporation founder John Grace, to talk about the recent jobs report. Peter summed things up with a dire warning. Stagflation is coming and it’s going to be worse than 2008.
