Biden-Harris Administration Brings Joy to Employers By Depressing White Collar and Blue Collar Wages

As your wages contract in the midst of high, unstoppable inflation, please remember: Kamala Harris is practicing the "politics of joy," as her media propagandists have dubbed it. She is above petty concerns about real wage losses and stagflation: She's all about bringing joy.

This is "vibes" election, not a "facts" election. Racists.

Via Hot Air, the Wall Street Journal reports a general reduction in wages.

Pay for many white collar recruits shrank last year, and now wages for new hires in construction, manufacturing, food and other blue-collar sectors appear to be ebbing too, according to an analysis of millions of jobs posted on ZipRecruiter.com.

Job seekers report seeing roles that once offered salaries between $175,000 and $200,000 a year ago now being advertised for tens of thousands of dollars less, a change that has had them rethinking their pay expectations. Companies are also moving job openings to lower-cost cities or offering them as lower-paying contractor roles, recruiters and corporate advisers say.

The push to reset employee salaries reflects a power shift in the cooling hiring market.

If there is a silver lining to this stormcloud, it's that a fall in wages will help bring down inflation.

So, problem solved? No, not even close. While falling wages might eventually help bring down the Bidenflation, for a long period we might have falling wages plus rising prices. These things do not perfectly coincide with each other. A wage bubble may pop, but it may take a year for that to impact prices for goods.

Add in the fact we're tipping into a recession and The Fed has no more bullets left for forestalling it, except creating more inflation. So we'll see falling wages, rising prices, and a contraction in jobs.

So people may see the terrible post-Carter recession of 1982-83. Biden and Harris will end their fake presidency and vice-presidency with a perfect economic storm. And this will not Bring Joy, I can assure you.

There's more great news for the Biden-Harris economy: Dollar General is reporting a "record drop" in sales.

Usually downscale stores and fast food restaurants are seen as a good hedge in a recession -- almost recession-proof and inflation-proof, as it were. After all, even poor people have to buy something.

And yet a dollar store is crashing.

Beege Wellborn:

The party of the poor and disenfranchised has done a fine job of "opportunity" and "making life affordable" when their inflationary indulgences have crushed lower wage earners and poorer Americans so severely that even Dollar General becomes an extravagance.

And not just Dollar General:

@FCNightingale

Competitor Dollar Tree was falling in sympathy, off by more than 9% in early trading.
Triple Net Investor

@TripleNetInvest

Brutal

Like I said: Fast food joints and inexpensive restaurants are usually recession proof and inflation proof.

But not in the Biden-Harris economy.

Of course, Harris's home state of California makes it impossible for businesses to remain open.

Shake Shack will shutter six underperforming California locations -- the latest fast food chain to close restaurants after the state enacted its controversial $20 minimum wage.

The burger chain, which will close nine Shake Shacks overall, said the move was a result of a periodic evaluation of its portfolio of company-operated units, according to a filing with the Securities and Exchange Commission on Tuesday.

"These Shacks are not projected to provide acceptable returns in the foreseeable future," the filing said.

Five of the doomed locations are in the Los Angeles area and another is in Oakland, lowering its total to 37 in the state -- where wages for fast-food workers shot up to $20 an hour on April 1.

Shake Shack declined to comment further on California's $20 minimum wage law when contacted by The Post.

It's the first time Shake Shack will close restaurants for purposes that were not construction-related, a spokesperson told trade publication Restaurant Business, which first reported the news.

The other closures include two in Texas and one in Ohio.

Shake Shack said it expects all nine locations to close their doors by Sept. 25.

...

California's $20 minimum wage hike has forced several major chains -- including McDonald's, Burger King, and even low-cost favorite In-N-Out Burger -- to jack up prices to offset the higher wages.

...

Earlier this month, recently hired CEO Rob Lynch said he didn't want Shake Shack to appeal to "only the highest-income burger eaters."

But -- Vibes!

JOY!!!

Meanwhile, major corporations are fleeing the blue cities, leaving them with a hopelessly hollowed-out tax base.

Musk is officially moving X out of (literal) Shithole City San Francisco, and city officials are saying they're glad he's going.

Talk to me in a year when you've got a $100 million hole in your budget and California can't afford to bail you out.

X owner Elon Musk's plan to move the social media platform's headquarters out of San Francisco has some city officials eager to bid farewell to the billionaire's business.

"I share the perspective that most San Franciscans have, which is good riddance," city attorney David Chiu told The New York Times.

The outlet noted that San Francisco Mayor London Breed said she had met with Musk "several months ago" but that she didn't extend offers aimed at keeping X in the city, saying, "I'm not going to beg anybody."

The report comes after Musk announced last month that he will move the company's headquarters to Texas in response to a new law enacted by the state of California that prohibits schools from notifying parents if their children want to change their gender identity.

...

He cited the gender identity law as being "the final straw" and attributed the move to "this law and the many others that preceded it, attacking both families and companies."

...

Shortly after Musk announced in July that X would move out of San Francisco, he mentioned issues with the "crazy gross receipts city tax" making it "impossible for financial companies to operate in San Francisco."

"That's why Stripe, Block (CashApp), VISA and many others were forced out of San Francisco, as 'gross receipts' came to be defined as all transactions processed by a company, even if NOT revenue. That meant companies processing payments either had to leave SF or die," Musk said last month. "Even if the severe crime problem in SF were to be solved tomorrow, X could not remain in SF and launch payments, as it would immediately fail."

Should the Shithole Cities change their behavior?

Nay, nay! Slit the throats of all the golden gooses! Maybe their dead bodies will produce eggs!

The Footlocker corporate headquarters is also abandoning the Shithole City of New York for sunny, well-run, orderly, low-tax Florida.

Foot Locker is moving its headquarters from New York to St. Petersburg, Florida, by late 2025. The retailer aims to build on its existing presence in Florida, reduce costs, and foster team collaboration as part of its broader strategic plan.

Key Details:

Foot Locker will establish its new headquarters in St. Petersburg, Florida, by late 2025, enhancing its existing commercial and executive presence in the city.

CEO Mary Dillon emphasized that the move would support the company's strategic initiatives and provide financial benefits, with no required relocation for current employees.

The decision follows similar corporate relocations from New York, including Icahn Capital Management in 2020 and ARK Investment Management in 2021.

Diving Deeper:

Foot Locker announced that it will relocate its corporate headquarters from New York City to St. Petersburg, Florida, by late 2025.

According to CEO Mary Dillon, the decision to relocate was influenced by Foot Locker's significant presence in St. Petersburg, which previously served as the headquarters of Champs Sporting Goods. "We have a large concentration of folks there already, and we think it's a great place for us to continue to grow and do business and continue to attract top talent," Dillon said, underscoring the city's appeal for future expansion.

...

In addition to the headquarters move, Foot Locker is set to open a Global Technology Services Hub in Dallas, Texas, next month. This separate initiative is intended to support the company's modernization of its technology infrastructure, further demonstrating Foot Locker's commitment to leveraging technology as a key growth driver.

Oh, they're putting that in Texas? Weird, lefties keep telling me it's the blue shithole cities which are the magnets for brainpower, innovation, and ambition.

Foot Locker joins a growing list of companies leaving New York in favor of more business-friendly states.

You don't say.

You know, you loose a couple of billion dollar corporations here and a few billion collar corporations there and pretty soon you're talking about real money.

posted by Disinformation Expert Ace at 12:00 PM

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