Lots to comment on in this thread!
The Fed will raise interest rates another 75 points which will cause more pressure. If people don’t have money to spend and business profits are eroding, costs must be cut. Hopefully the midterm elections may help turn the economy around slowly before we go into a full blown recession.
Many of us here likely remember the stagflation days of the Carter years. I believe we're going to return to those days, high interest rates and high inflation.
I doubt the midterms will change anything. Generally speaking economic changes take at least a year, if not two, to see the effects of.
Inflation can only be caused by the government. The expansion of the money supply. The Rising interest rates will just make matters worse IMO. Not even a full tank of oil for my house costed like $400. Things has to be getting bad for WROR to be laying people off
My last tank-up was $1,100. We consume about 6 gallons of oil daily to heat the house (300 y/o farmhouse). I anticipate this heating season is going to cost me at least $5,000.
Of course, the oil companies are gouging people now because they can.
This comment demonstrates a fundamental ignorance of how fuel prices are determined.
As wages have risen, companies pass on those costs. The cup of coffee or burger you buy will cost more because the person who serves you is making more. Workers hope to break even at best.
People demand a "$15/hr 'living' minimum wage" and then are surprised their McDonald's burger costs $10?
The economy is TOO strong and there aren’t enough workers to fill the needed jobs. Unemployment is a 50 YEAR LOW: 3.5%.
This is simply incorrect. First, unemployment is a rigged number, it only measures people actively looking for work. Many, many people in double-income homes found one spouse laid off during the pandemic, who eventually dropped off the UI roles. My wife knows many women in her circle who decided to stay home and raise/homeschool their children.
Local fast-food places along Route 1 all have help-wanted signs, despite that higher 'living wage'. Why? People have made a value judgement they are tired of working their asses off for peanuts and want a better work/life balance.
Wrong. The policies and decisions that have caused these problems go back many decades and multiple presidents. The biggest issue is that Americans are massively addicted to debt.
This is sadly very spot on. Not only Americans in general but also our elected leaders. They have been conducting generational theft from our children and grand-children for the sake of short-term political gain (votes, power, staying in office.) Yet, somehow, I am considered the 'extremist' because I think these people are traitors for betraying the country for their own self-interest.
I’ve heard absolutely nothing out of the Republicans about how they would turn things around.
I've heard nothing from them period.
Many Americans are financially ignorant.
Again, sadly, you are very right. The level of ignorance is stunning, but I suppose we have our public education system to thank for that.
As for Radio, upper management often knows the cost of everything and the value of nothing.
Not just radio.
ObviousRadio: At least Krazy K00000nah is safe for the moment! He's going NATIONAL, bay-be!
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