Bull. Increases in wages cause inflation at the margins. Frankly most of what we by buy little labor goes into it. Even fast food labor is only 30-35% of total cost to the retail consumer.
Historic levels of labor costs and labor shortage at a time when automation is easier and more cost effective then at any time in history. McDonalds has had a very sophisticated automation option for quite some time. They are aggressively phasing in and implementing the critical infrastructure components of that strategy under the radar screen as we speak. The artificial, Biden induced labor shortages are killing our economy
Odds are Democrats are going to get their Universal Basic Wage and Americans are going to get screwed - assuming the entire system does not collapse.
Math was never your strong point was it?
wages affect prices at every step, not just the last one. If you don’t think labor costs have much of an effect on business, then you have obviously never owned a business.
Calif just unionized 560,000 Fast Food workers & are demanding a $22 an hour wage.
HOW much do you think your next trip to your favorite fast food location will cost you???