Topic: Wage Inflation

White House National Economic Council Director Kevin Hassett defended the administration's economic record, claiming that inflation has been cut in half compared to the previous administration. Hassett noted that gas prices have dropped below $2 in some states and that real incomes are up by $1200. He argued that wage growth is currently outpacing price increases, fueling strong holiday sales.

Footage from El Paso shows migrants breaching razor wire and fencing to surrender to Border Patrol agents. An analysis suggests that central banks and bankers encourage mass immigration to suppress wage inflation, which protects bank solvency by allowing for lower interest rates while increasing asset values.

Financial analysts suggest that central banks and major corporations support mass migration as a tool to suppress wage inflation. By increasing the labor supply, banks can maintain asset inflation while keeping wages low, which protects the value of collateralized loans. Reports from meatpacking towns in Nebraska illustrate how local industries rely on migrant labor to fill difficult jobs that domestic workers often reject.

McDonald's announces 50 tweaks to its signature burgers, including brioche buns and fresher patties, to compete with higher-end chains. The hosts discuss the rising cost of fast food, noting that a Big Mac meal now approaches $10-$11 in many locations.

Dining and grocery costs in Spain and Italy remain remarkably lower than in American cities like Austin or New York, despite lower hourly wages for service workers. While a high-end meal in Europe costs approximately 70 euros, similar service in the US is significantly more expensive due to what is perceived as a debased US dollar. The disparity suggests the American economic system has become unbalanced compared to European markets.

John C. Dvorak argues that the $15 minimum wage is a "scam" because, when adjusted for real inflation and the 1961 dollar value, the wage should actually be between $25 and $40. He contends that the government and corporations are using the $15 figure to distract from the massive loss of purchasing power over the last 50 years.