What's going on?
It seems to me, and this is purely speculation, that companies who fired employees at the start of the pandemic are now having trouble hiring whose workers back at the same wages.
I've heard from several people in a few different industries that their jobs are getting harder. Employers are demanding longer hours and more production for the same pay.
On the other hand, those who lost their jobs are getting extended unemployment benefits.
Why would they go back to that environment when they can just as easily sit on the couch and watch TV or surf the internet?
As we speak, employers are starting to realize that if they want to hire quality workers they will need to incentivize them with higher wages, which as we can see from the bustling pickup in demand for goods and services, they should be able to afford without an issue.
Higher wages means more money in the system, which will most likely lead to even higher inflation. It's a vicious cycle, and unfortunately, I do not share the Fed's optimism that inflation will be transitory.
Bitcoin was created to fix this, as was Doge. Well, Doge was created as a joke, but with an annual supply increase between 3% and 4%, and rapidly rising adoption, it's looking a lot more attractive than the U.S. dollar right now.
Have a peaceful evening.
