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What would happen if you gave the same people to a group of angry, ignorant ideologues who tell you that all lives don’t matter – what if you gave them the keys to the US economy? We don’t have to guess. We’ll find out now. Because all around us there are signs that under this White House things are becoming dangerous in our economy.
Here’s an example: The government’s official job numbers were released today. Unemployment has risen and is well above expectations. Almost 14 million Americans say they want to work but can’t find a job. That’s an old story, but here’s the new twist. The moment unemployment rises and fewer people work, American companies say they can’t find employees. And it’s obvious that they can’t. Go to the nearest mall and count the “Help Wanted” signs on the door. They are everywhere.
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Restaurants close because they can’t find anyone to rent. So are production facilities. That said, America now has far too many workers, but at the same time far too few workers. How can that be?
Another question: what happened to all consumer goods? Many of the things you need to buy and buy are more expensive than ever. Inflation is real, it’s galloping. At the same time, many products seem to have completely disappeared.
The US is currently experiencing a shortage of chickens, generators, roofing materials, lumber, ketchup, bicycles, diapers, ammunition, automobiles, plastics, appliances, chlorine, pig and propane tanks. Amongst other things. Remember this is peacetime. We did not mobilize for a foreign war. However, we are now receiving reports that we should prepare for a gas shortage this summer. Why is it all happening? Because things are so good in business. They tell us that.
CBS ANCHOR: There have been more signs this week that the US economy is coming back to life. And they come when President Biden proposes billions in government spending.
JILL SCHLESINGER, CBS: That’s really good news. This week we found that the economy expanded at an annual rate of 6.4% for the first quarter of this year. This is huge!
CNBC ANCHOR: Could we see a great economy and poor return for the stock market?
GOLDMAN’S KATIE KOCH: Becky, I think the good news for everyone is that we’ll likely see both of them. That we will continue to see a strong economy and that we are actually set for some great stock market returns here too.
There is a lot of lies in financial journalism. Nobody ever says that, but it goes without saying.
They tell us that things are great. Why are you telling us this? Because the stock market is way up. Could it be overrated? Take a look at these value for money. Can you go on? Is that based on reality? Oh just relax. But make sure you stock up on gasoline. And diapers if you can. We could be looking at the Soviet grocery shelves soon.
And whatever you do, ignore inflation right in front of you. For example, oil prices rose 12 percent in one month.
Steel prices have tripled since last year.
Chicken breast prices have doubled since Biden became president.
The price of eggs has risen by almost five percent.
Large appliances have increased by almost 15%.
Ground beef and fresh fruit, both by nearly six percent.
The median sales price of existing houses has risen by 16 percent.
And then there is wood. Did you notice wood? Since last year, the price of timber has increased by almost 300%. Do you want a thousand board feet? That’s $ 1,359. This price has never been higher. According to the National Association of Home Builders, material costs add more than $ 35,000 to the price of a new single family home.
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Why is this happening? Well there is too much cash in the system. That’s a big reason for that. Print too much fake money and that fake money will go down in value. People are starting to find out that it’s not real and you get inflation. It’s always true. Nobody denies this. The White House just doesn’t care. The finance minister told you not to worry about inflation. It is not a problem.
JANET YELLEN: And I think the economy will get back on track. I don’t expect inflation to be a problem. But it is something that we are watching very closely … I don’t think there will be an inflation problem … You know, President Biden has also proposed other substantial spending packages that we would like to put in place.
Keep spending trillions of made up dollars to settle your political consistencies because there will be no “inflation problem”. Law. Thank you genius. How did you get into this job in the first place? You just hope that you don’t realize that you can no longer afford anything. You will be too distracted by the fact that you have no electricity.
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The Sacramento Bee reported a few days ago that California energy officials “cannot promise they will be able to turn the lights on this summer.” Oh no lights in your house No big deal. We’ll use candles and dig a pit latrine.
In Texas, which is supposedly healthy, the Dallas Morning News tells us that “inefficient homes” are responsible for the state’s massive blackouts this winter.
So it was your fault that the power went out. You had the wrong kind of house. It was definitely not the fault of stupid and corrupt renewable energy systems that forced people to rely on windmills that froze when it got cold. No It wasn’t her fault. It was your fault Your house made it. Get a better house. It’s a shame that wood is so expensive.
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The question is, even if you could afford wood, who’s going to do it? In the midst of rising unemployment, we somehow don’t have enough workers. You keep telling us in Washington about a “labor shortage” which is why we will probably have to open the borders and let in millions of new foreign workers. Right away. So what’s going on here? Probably a lot of things. It’s a huge country and a pretty complicated country. But here’s a reason for what we’re seeing: the government pays people to stay home.
Thanks to Joe Biden’s $ 2 trillion Coronavirus Relief Bill, which was created under the rationale of the pandemic, some people in this country are receiving checks for $ 700 a month to avoid work. This is true across the country, even in Louisiana, the state with the lowest weekly unemployment benefits, you can still make nearly $ 500 a week when you’re not working. For a 40-hour week, that’s a little over $ 12 an hour, well above the minimum wage. In the states with the highest unemployment benefits, you could make almost $ 20 an hour if you are not working. Now we’re not attacking anyone or calling someone lazy. It’s easy to see why people don’t come back to work. You are not crazy. You are rational.
No order, the economy stutters in a bizarre way. America created just 266,000 jobs last month in a country of 350 million people. Economists, the people who very often mispredict these things, expected four times as much. The numbers were so shockingly bad that even CNBC didn’t believe them at first. You had to check the air.
STEVE LIESMAN: It looks like 266,000 (jobs added). It looks like a big disappointment at 266. But maybe I did that wrong. Let me check the Office website one more time here. One second. Yes, 266 is correct. Unemployment rose to 6.1 percent.
So there is no real shortage of American workers, citizens, to fill jobs. They are only telling you this so that they can justify opening the borders and changing the electorate, so that they can justify opening the borders and changing the electorate, so that they never lose an election again and no one ever takes their power away. But that’s not true. What is true, once again, is that the government pays people more to not work than to work. Then why should they work?
The question is, what do you do as an employer? At some point, if we devalue the currency so completely that printing more dollars won’t help, we will need real employers in this country. And what do you do?
A reporter named Nate Doughty from the Pittsburgh Business Times investigated. He spoke to companies in the Pittsburgh area that had been able to hire employees. What was her secret? All they had to do was double their wages. A place called Klavon’s Ice Cream Parlor, which has existed since 1923, increased its starting wage from $ 7.25 to $ 15 an hour. They more than doubled it. A nearby sports bar now guarantees waiters and bartenders $ 20 an hour. This is happening in a variety of locations across the country. And of course, big companies can compete more effectively because they have more money.
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A Burger King in Washington, Pennsylvania offers new workers a $ 1,500 bonus.
A McDonald’s in Florida gives people $ 50 just for showing up for an interview.
A company called Sisu Energy in Texas is offering new truck drivers $ 14,000 a week.
Walmart, the country’s largest private employer, raised wages for nearly half a million workers in February. The company’s median wage is now over $ 15 an hour. In a way, that’s good news. You want people to earn more. Of course, you want dollars to be worth more, and now they’re worthless. But there are effects that we could live with for a long time. There are millions of small businesses that cannot afford to compete. They are not a Wal-Mart, and many of them will go under because of the pressure the US government is putting on the job market. And if these small businesses go under, what is left? Amazon.
This article is from Tucker Carlson’s opening commentary on the May 7, 2021 issue of Tucker Carlson Tonight.