Returning to work means a pay cut! The long term impact of the $600 per week on the income of the citizens of the United States of America.
The CARES Act expires on July 31, 2020. Most people that work in the hospitality industry make more on unemployment than returning to work. This is will create both a SUPPLY SHOCK and a DEMAND SHOCK between now and Labor Day 2020 (the end of the summer season).
Not too long ago (2015) an event happened in Californa when they passed a law to increase the minimum wage $1.00 per year for the next 5 years. That event sparked billions in venture funding to improve and deploy technology to ELIMINATE:
- Cashiers
- Counter Workers
- Attendants
- Bartenders
- Retail Salespersons
- Aides
- Guides
- Agents
- Clerks
- Guards
You will witness with your own eyes an almost identical narrative that began in 2015. Labor rates will rise! But notice the technology deals in the background. Pay attention and you will see the consummation and birth of new technologies with the sole purpose of total ELIMINATION of human labor even higher in pay scale than the low pay scale jobs.
If you play this out, you can predict the outcome! UBI.
https://www.cnbc.com/2020/05/09/it-pays-to-stay-unemployed-that-might-be-a-good-thing.html
CEO, Southeastern Chamber of Commerce (9 Divisions) | Small Biz Influencer | Millennial Strategist | Urban Sprawl Analyst | Chairman, Board of Executives- Charleston Area Black Caucus | 40 Under 40 Honoree
4 年Hope things are well John!
Just a few years ago, people saying these things were deemed “out there.” There are many of us that have been seeing this coming. Controlling people is easy, with fear and giving away stuff. Scary.
Veteran | Lawyer | Futureproofer
4 年Sound familiar Billie Attaway?