Wage Growth Falls as Inflation Remains High

While low wages have increased at a lesser pace in recent months, inflation seems to have dug in more socially, while the relevant match in personal value to workers seems on a downward track.

According to U.S. Labor Department data published July 13, the consumer price index rose to 9.1 percent for the 12 months ending June 2022, the largest annual increase since November 1981 and after rising 8.6 percent previously.

This is also affecting the Democratic Party more aggressively as President Joe Biden seems incapable of confronting growing problems, with the upcoming November elections casting their shadow in a greater way. Biden’s White House blunders caused a worse imbalance waiting for the future.

Further complicating the situation is tight labor availability, with employers desperate to facilitate a balance. This will negatively affect the Democrats, who face substantial losses in the mid-term elections.

Furthermore, the Federal Reserve has begun hitting interest rates for the first time in years. In March, the U.S. central bank announced it would raise its interest rates by a quarter of a percentage point — the first rate hike since 2018. The Fed typically increases rates incrementally by a quarter of a percentage point. 

In June, the Fed lifted interest rates by 0.75 percentage point. As of this writing, the U.S. central bank is predicted to increase rates by 1 percentage point at its July meeting. But some economists and many Republicans claim that the Fed should have acted much sooner to reverse its pandemic blundering measures.

The GOP is focusing its attack on Democrats by imposing the Democrat’s failed government spending policies rather than supporting private business in the upcoming elections, tagging Democrats with the upcoming problem.

Big Tech Stocks No Longer Favored

Big Tech stocks have suddenly faded from their previous dynamic as favorites in the massive purchase dynamics. The S&P 500’s information technology sector dropped 20 percent in 2022, the worst performance in many years. This gap with the broader S&P 500’s has been down 14 percent since 2004. These downturns have generated a major reduction of interest in the “big shots” since the beginning of the current century, with no indication of a return reversal.

While inflation keeps shooting the upside, overall markets generally seem to be headed downward. There is little indication that such a reversal will likely occur for the rest of 2022. At the same time, the Federal Reserve is pushing toward a more rational upward interest rate. This will probably have less monetary capability in balancing the U.S. monetary viability. 

This likelihood may be shaken up by the mid-term voting in November, and the not-too-direct showdown between Republicans and Democrats.

With President Joe Biden looking incapable of handling America’s overall economy, the nation’s monetary liquidity will likely be restrained while awaiting the forthcoming GOP/DEM presidential showdown in November 2024.

Green Energy Control

The multi-decade control of oil, natural gas, coal, etc., acquired a major support base before the current oil price runaway and shortage.

This has been accelerated by Russia’s world-leading supply, which it is using to put further pressure on the West and even the growing shortage in the United States. Unfortunately, this has been supported by the group advising U.S. President Joe Biden. He seems unaware of this critical situation when taking over as president.

On that first day in January 2020, the new national leader canceled an important oil supply source from across the border in Canada. This support for a meaningless gesture, even after the Russians have squeezed their ample oil supplies from Europe and the United States, indicates that this infrastructure control continues. 

It’s an American tragedy that this continued multi-billion-dollar element continues to be wasted, while most of the previous green control group has abandoned this project “temporarily.” 

Source: www.phcppros.com

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Drake Wills Plumbing

We're here to help.

We’re dedicated to giving our customers the kind of service they expect—and deserve—when it comes to plumbing. We provide a complete range of services, from simple repairs and maintenance to major system upgrades. Whether you’re ready to make an upgrade or you need to fix that leaky faucet once and for all, drop us a line; we’d love to hear from you.

M-F: 8am-5pm | S-S: Closed