Economic growth predictions are notoriously hard to make accurately, but at some point saddling the economy with destructive mandates and borrowing to fund politically motivated boondoggles has to be reckoned with. It’s not a matter of if, but when.
Berezin expects that recession to begin either later this year or in early 2025.
He rattled off a number of indicators suggesting that the torrid pace of pandemic-era hiring has given way to something far less appealing to workers. As official job-openings data show, the number of open positions have fallen substantially, as has the quit rate. And private surveys of job openings reflect an even more dramatic decline.
What are you talking about!? Gavin Newsom (Biden’s 2024 replacement candidate) has just massively increased the State’s minimum wage for fast-food workers! All those poor illegal immigrants are now earning a “living wage”! Woo hoo!! What a great economic stimulus!! Yes, your burger meal now costs $24 … and business activity has cratered … but those TWO people who can afford to be hired are making BANK!! Well … until the business closes down.
And those huge increases in minimum wages will replace all the laid-off high tech workers wage tax receipts that have caused a massive and growing State budget deficit. Newsom is an economic genius! And he’s a multi-multi-millionaire himself … so he’s really good at inheriting other people’s money.
Don’t forget that Gavin Newsom was nice enough to allow for the continuing exploitation of Bakery workers by one of his megadoners.
Doesn’t he know, we don’t have recessions (formerly described as 2 quarters of negative growth) any more.
Impossible Mass immigration fixes everything.
Minimum wage increases are used to inflate Union wages.