When All Else Is Out of Bounds, Zap Labor
From Nixon’s wage controls to today’s interest rate hikes, the fight against inflation has targeted labor.
This is hardly surprising. One out of every five homeowners owe more than their houses are worth. The real unemployment rate is over 16% and climbing. And banks are refusing to refinance sour loans, even with $50 billion from the Obama Administration. You can't unpop a bubble.
From the wires:
--d.f.
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