Source.
This morning McDonalds came out to say they are raising their wages 10%. They are following the likes of Walmart and Target. I guess there is something of a bidding war down in the 0 skill labor force. Said in the most sarcastic way. It's the first time I've ever seen that happen. Maybe welfare is competing against them.
Frankly, I hope every single one of these companies dies because they have laid their cronyism on full display. And I love me some McDonalds fries.
Who raises wages when your same stores sales have been falling for two years in the case of McDonalds? Walmart same store sales have fallen 14 out of the last 21 quarters according to The Fool. And Target, we all know what a mess they are right now.
So it's really fascinating that these companies in particular have decided to raise wages by roughly 10%. I don't understand this bottom up style economics. It sounds like the same bullshit story they were trying to cram down our throats about how for every dollar in welfare you give - it returns 3 dollars. Remember how all those welfare payments were suppose to stimulate the economy? No? Here, here, here, here, and here.
I'm sure there is a cow prod somewhere with the Federal seal on it. It will sure be fun to see how this turns out. I am definitely in the "whatever" stage".
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