🌍 America's accidental UBI creates a national labor shortage and throttles growth

“This is the key issue right now for a lot of businesses. I mean, you have restaurants that are overbooked cannot get servers. ... the result of this UBI experiment is negative economic growth or throttled economic growth, we cannot be productive if people don't want to work and contribute.”

“Montana now has a severe labor shortage, but it's not just Montana, it's every state in the union. So we have these two opposing forces, right? We have so much stimulus, we have an under motivated labor force, we have more taxation, that's also just going to be wasted. So very poor ROI. ... And then now we have input costs going up, and prices going up to try to attract people.”

“Just to build on that, so that second step of their overcompensating, their inability to open with money is so true, because then what happens is your labor force stays impaired because people make enough money by not working.”

“So we have these labor shortages, people dropping out of the workforce in record numbers. ... And to stop these disincentives for production and work.”

“all of that is exacerbating this employment problem, which you can only solve by raising wages, right? ... all of it just means that there are just fewer people to do the work, which means you're going to have to pay more to get the work done.”

“And then the fourth is you have all these boomers with an enormous amount of savings, 30, 40, 50 trillion dollars, who are pulling forward their retirement and also subsidizing their kids. You put it all together, there's less of an incentive to be in the job force unless you pay higher wages.”

“you also have the supply component, which is we don't have enough goods and services. Why? Because we've been, you know, passing out these STEMI checks that disincentivize people from working.”

“I'm seeing the salaries going up faster than inflation, people are raising people's salaries, you know, in double digits to try to get them to come to these jobs.”

“End of the great resignation. That whole concept of like fun employed and I'm going to flip NFTs and I'm not going to go to work, that's out the window. So for people who've been enjoying it, people are going to need jobs.”