Wages Are Falling

A week ago, the Bureau of Labor Statistics (BLS) released the third quarter review of average weekly wages [Main Data Here].

Sundance notes:

By now, everyone knows the term “stagflation”, which means a stagnant economy and large inflation (price increases), the easiest comparison is Jimmy Carter economic program in the 1970’s.  However, let me assure you what this latest BLS release foretells is not that.  This is far more serious than stagflation.

Sundance has modified a BLS spreadsheet to focus on the real issue.  And that is, wages for multiple categories of workers have actually fallen year over year.

So, while inflation is raging with no signs of letting up, actual wages are falling for multiple categories of workers.  This is the Biden Effect.  More money for the Wall Street types and less money for the general public.  This contraction in wages for the blue-collar bread winners is very alarming.

The Dems will not be happy until we are all serfs and peasants dependent on the government for our very existence.  To achieve this, they must erase every one of PDJT’s “Promises made, promise kept.”  This includes the lowest unemployment rate for blacks, Hispanics, etc. in history.  And there was the real wage growth for blue-collar workers.

What is going to happen with tax collections by the federal government?  During the PDJT years, tax income soared despite cutting the tax rates because the economy was roaring.  With the economy slowing and beginning to contract, when will the Democrats begin raising taxes?

This data is a five-alarm fire bell going off.  I fear that this will be worse than the Carter years.