Lest all the bitching be ’bout workers!

From Slate here:

When you operate in a market, you have to keep raising your price until someone is willing to accept your bid. But for the last several years, American employers have steadfastly refused to raise wages. And now their stinginess is catching up with them. In many instances, employers simply aren’t offering sufficient incentives for people to apply for their jobs, show up to interviews, accept their offers, or show up to work. Some number of people would prefer the low level of income they have, or no income at all, to doing the work on offer at the wages listed. As Minneapolis Fed President Neel Kashkari told a group of businesspeople earlier this week, “If you’re not raising wages, then it just sounds like whining.”

I guess the laws of supply and demand don’t apply to wages.  What a shock especially when large American corporate executives get paid out the ass.

Pay as I want not as I get paid!

Wall Street trolls for deep sea suckers to fleece!

From CNBC here:

The stock market “has an awful good gig going,” with the economic recovery reaching all corners of the globe and U.S. inflation and interest rates still at historic lows, Leuthold Chief Investment Strategist Jim Paulsen told CNBC on Friday.

“We’ve got a fully employed economy, rising real wages. We restarted the corporate earnings cycle. We’ve got strong confidence among business and consumers,” he said on “Squawk Box.”

“The kick is we can do all of this without aggravating inflation and interest rates,” he said. “If that’s going to continue, I think the bull market could continue to forever.”

Most Americans know very little about the inner workings of the stock market.  Most Americans would like to make money in the stock market — as in putting money into the market and making money without slinging hamburgers or installing plumbing.  It’s less work.

So when a market insider goes on the tv and starts talking about the bull market going forever (which is possible but extremely low probability) it is the equivalent of a giant fish hook cruising around the ocean for fish with cash.

If one were to start talking realistically about how financial bubbles form and get huge statements like the one above would have to be at the core of that conversation.

Put your money in the stock market as it’s going to go up forever.

And nobody is ever going to get sick and die.

And they lived happily ever after.

Political desperation has forced Chuck Schumer to give a shit!

From CNBC here:

Democrats are calling for harsh new punishments on companies that outsource jobs and a crackdown on currency manipulation, embracing a more populist economic agenda as they seek to win back control of Congress in next year’s midterm elections.

I’m not sure Chuckie’s Wall Street friends are going to be excited about the idea of raising their labor costs by limiting overseas production.

And given Democrats long standing willingness to pass weak legislation with loopholes and then trumpet it as masterful I would not cheer this proposal until all the fine print has been put under a magnifying glass.

Your tax dollars have been used against you!

Headline from Zero Hedge:

Deutsche: The Fed Has Created “Universal Basic Income For The Rich” And Now It Can’t Get Out

The Fed/Uncle Sam, let us not forget, uses tax dollars to bail out Wall Street so the irony is quite delicious that you can’t get basic health care but the segment of our population that does not need a universal basic income has gotten one via Uncle Sam’s relentless commitment in supporting the stock market.