@@mikesrandomvideos Greedy investors have caused the inflated housing and rental prices, not politicians. This is happening in many major metropolitan areas throughout the country.
@@gc-l.a.6024 politicians have made laws that are favorable to the people who are making the money. so yes it is political. Mostly in major cities because they are democratic.
I recognize the hardships that come with economic struggles like unemployment, job loss, inflation, housing market instability, political uncertainties, and the global impact of conflicts and wars. Making ends meet during such times can be incredibly challenging. To navigate this difficult period, considering alternative job prospects, enhancing skills through online courses, and expanding your network can heighten the chances of securing employment. Moreover, prudent budgeting, exploring available financial aid programs, and seeking assistance from community organizations can offer some relief. How are you currently tackling these challenges? Have you implemented any specific strategies to cope?
In my opinion, now is not the moment to rely on hearsay. Every individual, regardless of their level of experience as an investor OR in a financial market, requires guidance at some stage.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
As an previous dealer owner I can tell you one thing. You do not need to pretend anything. You are not obligated to tell them how you are paying you can say you are not sure yet. They will try to get you on a contract, Just follow the steps below, Put attention on what you want , not what they want. 1: Never negotiate payments, on a buy nor a lease. 2: After you negotiate the payment, then negotiate the interest rate, as per your credit. 3: Now they can tell you what the payment is, based on price and interest negotiated, not the other way around. 4: Before you sign the contract or lease, make sure you read all the items, Price given, Interest given, tax, fees etc. ( You cannot negotiate taxes, registration fees, does are government fees.) If they want to trick walk away and go to another dealer.
20 dollars an hour. This was what I earned just only 10 years ago as an Engineer. I repeat, as an ENGINEER !!!! The market, the life is crazy. Everything is going wrong!
that was a bad salary. I made 22€/h, 20 years ago in France with all the social benefits that France offers (free healthcare, free education, high unemployment benefits...). You chose a very bad company to get paid that low.
Ok, when I retired 10 years ago. I was paid $35.00 HR. 30 hours O.T. inspecting Nuclear Reactors as A contractor perhaps 6 - 7 months a year. 🤔 Not just anyone can do that job mind you-!!!😉
Pizza Hut, and other well known fast food chains, is owned by Yum brands and posted revenues of $1.7 billion for the quarter ended September 2023. It also has a high net profit margin of nearly 25%. Corporate GREED is what is ruining the lives of hard working, low paid people. This isn't just a California thing.
That might be a good start-???🤔. Then continue with a non cess pool party😈 democratic mayor-!!!😉.$20.00 an hour is investing in more Gov't subsidies to the unemployed & home less-!!!😉
they are not representatives as they could give a 💩 about the people that elect them. fot instance a majority of people want term limits but never a vote on it 😜
@@petersinclair-day7499it's the politicians that made things beyond their means. Imagine living well within your means and politicians put their ideas into effect and cost you so much you can no longer live within your means. I know it, we lived it.
Given the massive influx of illegal immigrants.... (cheap labor), and a $20 minimum wage.... it's a blueprint for paying under the table. In Pizza Huts case, the delivery drivers will become 1099 Independent Contractors, not employees.
Hi , I tried to offer on a new condo paying cash ,the builder would not give me any break on the closing costs . They only give a break on closing costs to people that finance. This episode is on point!
I think folks actually like you Michael l......I think it's your consistency of tone.....very non-threatening & easy on the ears. Happy New Year to you & your family.
They're short because they keep giving away Money recklessly And Paying people section 8 that can really work. I heard they wanna start giving away money monthly just because to certain people. And they just announced I'm documented. People can now have Health Insurance. And i'm sure they don't mean they have to pay for it
So you can add 68 billion dollar budget shortfall this year to the 93 billion dollars that the state of California owes in unfunded pension fund debt. And that's because they gave away too many pensions. Bankrupt
Fast food buyers ARE price sensitive. Going to McDonald's for a good price and a quick meal is the basis of fast food places. The people who are greedy are the Democrats who overtax, over regulate, and overspend in order to waste our money and staying power over minorities who get less than they would if politicians weren't blowing our money on bad schools, foreign countries, and Woke, Marxist ideology nonsense.
@user-xm9ft7ks7y I get it. I live in the greater Boston area. $$$$ However, fast food jobs were never meant to be a career to make your living. It will be good for students and teens or part-time gigs.
I left San Diego 10 years ago for greener pastures in South Florida for work/tax reasons. My greener pastures aren't so green anymore as Miami is becoming more and more like California cities. I sure do miss California and still own my home there as Im trying to hold on for 3 more years to retire early and relocate abroad. California needs a a complete overhaul.
Back then you could be a cashier and still buy a house. Just having a job in society showed you were deserving enough to put food on the table, so what's changed?
Didn't Charlie Munger and Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing....
i've been doing this same thing myself. Can't get into trouble with the IRS when I have no income and all my money is in stocks. I don't like doing the work though. Lol. So I just invest through an advisor who does the stock picking. My money grows, and I'm tax-free...
I loved the story you talked about in Texas. About new construction making current houses almost impossible to sell for the price the delusional owners think their house is worth. It is just glorious to hear. They need to come to the realization that most people overpaid for the houses during the pandemic trying to "escape" locked down states for more freedom. All those people destroyed several states including my state of FL. Nothing good has come to the state of FL since 2020. Why would potential buyers want to buy a used older house when they can buy a brand new house for cheaper price and lower mortgage rate. I understand it is only for the areas where inventory is exploding, but there is a major lag in inventory and that inventory overload is on its way to most areas in FL. The same is happening in other states as well.
It does seem that sellers in some areas of Texas are trying to chase down the market with price drops and still some of these houses are sitting for an significant periods of time because prices are still too high. I don't really want a new construction home but if these sellers don't price their homes competitively then what choice do I have. As far as Florida, I hear they have big home insurance problems which could keep people away.
I was watching a video from a labor lawyer in Cali that was saying the firings and price increases from chain restaurants have nothing to do with the new labor laws because they don't go into effect until April. Its crazy that educated people legit think that it doesn't count as a cause unless they wait until it takes effect. Its even crazier that people are so uneducated when it comes to business that they have no idea that these companies are naturally going to pass on those costs to customers. They will because thats how business works. They profit by having a product or service that people or other businesses want and charging those customers for the costs they incur plus a premium. This should be standard knowledge, but our schools seems more interested in teaching people nonsense while our society literally decays around us.
Next it'll be "We need a $25 minimum wage!" Then $30. $40. $50... And they still won't figure out they're the ones doing the damage to themselves. You would think after touching a hot plate so many times, they would know to keep their hand away. But no. They're confused every time they get burned.
The last thing the Teachers Unions want is Public K-12 teaching financial literacy. If they did teach Financial Literacy, Democrats would lose all elections. And people would demand an end to 50% of public education systems systemically failing their students.
@@s99614 They will simply have to lay off half of the workers making less than $20. It is amazing what you can do more. ALL grocery chains ALWAYS have thin margins.2024-2025 is a great reset! Maybe, many of these locations should not have been business to start with! The government is touting record available jobs, right? Jerome Powell has hinted that we have too many jobs! Have a backup plan!🤩
@@s99614 Well it may be full pay till the last day but no more GM job bank like they had 25 years ago. Pink slip call unemployment and start submitting applications online.
The CEO's need to take a HUGE pay cut in this country ! Since 1985 the average Blue collar worker got about 27% pay increase - CEO's got 370% pay increases !
We have been losing to capitalism for decades with wages and inflation. No matter what corrections take place the corporations will keep digging a deeper hole.
Holy crap... So you're telling me in Illinois, they want you to break the law to house someone who's breaking the law...or else you're breaking THEIR law? Wtf!? 😂
It’s crazy. I was a telephone engineer!! Land line stuff in 2010 I was making 6 figures. There is no relation no transition to cell phones 2 different world ! I was smart dept free own lots of acres! And dept free. But I’m driving a ambulance today making 11 bucks a hour .. thousands have been layed off ! Major corporations have closed their doors in the last 2 months in my area in Ohio !
2024-2025 is a great reset! Maybe, many of these locations should not have been business to start with! The government is touting record available jobs, right? Jerome Powell has hinted that we have too many jobs! Have a backup plan!🤩
@@highvibrational2007 I was a land line. True telephone.. engineer.. now telephone companies are trying to close their offices! But the government won’t let them .. old land lines are aren’t effected by a emp .. phone companies have to forced To keep open ! They aren’t allowed to close! Losing money.. a emp. Takes out every cell phone instantly!
These are entry-level jobs... Everyone should be getting a vocational/ trade liscense [realistic] or a degree. These entry-level jobs are really for teens and retirees. If you are planning on making a living with it... you MUST have a backup plan.
Lol in Florida apprentice electrians don’t even make a living wage. This country is becoming a race to the bottom with capital accumulation at the top. More and more homeless every year, more deaths of despair, country needs to desperately start investing in its work force and training programs.
@@davidmann2524 Very astute bruv! These noncomprehensive "conservative" talking points get so exhausting. The point of the forced wage wage increase is to share the wealth with individual workers in order to circulate the economy(read: so the averagr person can buy average goods/services). Or at least keep up with inflation... You dont need to be a communist to understand that an electrician is wiring house he could never afford to purchase while being on the verge of homelessness him/herself. Im a staunch capitalist, be streamers, conservatives, corrupt politicians are begging for a collapse at best or commie revolt at worst, if white AND blue collar workers can afford to live.
Twenty bucks an hour? Which is 800 a week. Which is nearly 42000 a year - to someone who's had a couple of hours' training, to put a burger and fries on a tray. Compare that with the pay of a serviceman straight out of basic-training. Another channel - California Insider - reported that San Francisco's budget is some 15 billion dollars - for a city of 750,000 inhabitants, which is 20,000 each. Insane! P.S. My last McDonald's cheeseburger in London cost me £1.19.
I lived in Seattle when they bumped the minimum wage in Seattle/Sea Tac to around $15/hr - they made a law to force them to pay workers that wage in like 5 years. Now they are bumping ALL of Washington to $16.28/hr. Here's a few things that Seattle businesses did after this came into effect: 1) moved their business out of Seattle (loss of tax revenue), 2) cut worker's hours (loss of health insurance), 3) fired people (increased unemployment), 4) passed the cost of goods and services to customers in the form of higher prices (inflation), and 5) shutdown. The only 2 positive things from increased wages are : 1) momentary rise in pay, but will be nullified after maybe 6 to 12 months, 2) lawmaker looks good to the people who got the wage increase.
@frenchfred3 Let the business decide what their minimum wage is. The government should get out of the market. The government wants to change prices but they can't change real costs.
yes like back in the 20s, let's have no minimum wage, no social security, no medicare or medicaid, no unemployment benefits, no vacation and let companies decide...and a 60% poverty rate.@@FromG2eminor
@@frenchfred3 I think pay should be based on the market demand, not by law, and between the employee and employer. A negative downside to high wages is now less experienced people, AKA kids, will not be able compete to get these jobs. For example, at a time, I was willing to take a pay cut to get a job that was going to give me the experience I needed to land future jobs. Now, I don't have that opportunity to negotiate a lower pay to be more competitive to land that job.
Omgoodness I was appalled at how much fast food costs now; it's almost the same as mid tier restaurants 😮 we ordered KFC a month ago and thought the total would be $30 but it was $80. I almost choked lol never again.
@@Alex-jx5bx , it's that same mentality you see at the movie theatre, where they charge $10 to see a movie at 20 out of 500 seats have people in them. Where if they charged $5, or even $1, they would probably make more money. It was especially perplexing to me at our local theatre that $1 tickets on Thursday nights, in my home town. It was standing room only, and then you would take a date on Friday night, pay $2.50 and be the only ones in the theatre. There were a lot of movies I would pay $1 to see that I wouldn't pay $2.50 to see. Same thing with Pizzas. I might eat three pizzas a week if they were $5, but not eat any (instead of just one) if they were $15.
Businesses are just doing business, as businesses do. Any business needs to match expenses to income. Period. Those that don't go bankrupt. That's the way it works. Raising the minimum wage raises the cost of doing business. How can it possibly be otherwise? Pizza hut is not the first business to exit a market because the costs of doing business in that market got too high. I doubt they'll be the last.
GM dealer offered a discount if I took financing instead of cash. With no pre-payment penalty, I took the deal & sent them a balance check 2 weeks later. No interest loan for 2 weeks.
Try to using your thinking cap. In order for domestic businesses to grow revenue they need more people to buy their products and services. The birthrate in the United States was not enough. In other words, immigration, including illegal, has fueled the economic growth in the United States the last 40 years. Illegals do put a burden on social programs. But businesses benefit from immigrants eventual added purchasing power, and suppressed wages for decades. People look for the government to solve the problems. The only way a state has to raise revenue is by taxation and fees.
We were laughing our butts off hearing the Illinois new laws. The lack of English skills will be a major problem. Loved the end of the video, it was too short!
I bought a new truck a couple years ago....my finance at the time was 3% but Ford Motor Credit offered a 1k discount if you used them at 5%. I chose them got the discount and 30 days later I paid off the loan lol. If you have cash use the financing available that offers the best discounts then pay it off with cash! Unless there's a pre-payment penalty in which case move on....
Sometimes there is a penalty for early pay off, but I was wondering the same thing. Surely it would still be cheaper to pay the penalty instead of all the interest?
Being from CA I seen this vicious cycle too many times. Its simple stop buying food from those resturants and let them cease from operating in CA, using an analogy its like buying a car. Have the buyer focus on dropping the monthly payment instead of the price. They extend the months but not the price.
Screw the corporations, the middle men, the restaurants, the hotels, the airlines. all of them. I'm keeping my money, cooking at home, and staying at home. Not participating again until the prices come down and the crooks are all rounded up.
Fade to black? 🎸 I lived in WA when they raised the minimum wage to $15 hr… Within five to seven years my rent tripled and EVERYTHING in the state went way up in price. I had to work my butt off to learn skills to make $20 an hour and live a middle class lifestyle. Raising the minimum eliminated that and I had to move.
As if your votes actually matter, especially after what the whole world witnessed in real time what happened in US 2020 election in which the Joos and their traitorous minions RINO's and DemRats openly stole the votes, unfortunately. "It's Not Who Votes That Counts, It's Who Counts The Votes"- Stalin
It pisses me off that politician's annual raise are always more that inflation. We could function perfectly with 1/2 of our government, how about they start laying people off.
It’s weird how there’s always millions in bonus money available for executives but there’s never a way to keep cost down unless they’re exploiting their workers.
Lenders are betting on you'll never pay off that mtg or auto loan. System is designed to extort as much life force out of you as possible, and largely succeed as folks fall into the trap.
I don't think the layoffs are the result of wage increases. I think they were going to do that anyway and were looking for something to blame it on. They would probably rather buy a self-driving car than pay someone a living wage.
What exactly do you mean? What is your definition of “political “? Seems to me Being political is about speaking up for beliefs and priorities and principles People who are scared to be Political are allowing others to establish the rules and constraints. Speak up and speak out before its too late.
Hello Mike just wanted to let you know your videos are spot on glad you are saying what most people are so lost about its scary to think that as many people have their heads in the sand I live in Mississippi and it's been a crazy 4 or 5 years keep doing what you do great job and education have a good day
This is very unfortunate news about Illinois. I used to live in CALIFORNIA and I have family there. None of them own a home except one who drives two hours to work. Thanks Michael!
With all of the self-checkouts at stores here in Florida the prices still went up at the stores for food and more. People are working for free bagging their own groceries and other items. Florida is just as bad if not worse than California per cost of living, and real estate prices.
for those new home builders that are requiring financing rather than cash, do those mortgages have pre-payment penalties? If not the cash buyers can just pay it off in the first month & be done with it. They can do the same even if there are penalties assuming they're not ridiculous, still beats paying interest. If the penalties are too stiff I'd tell them to go pound sand & buy elsewhere.
All these new business practices and automation and greed in operations is going to kill society. Everything will be non personal, expensive and stressful! Only the filthy rich will be able to enjoy !! Very sad and sick society!!!
When people make more money Like those who are over charging for everything bought Why doesn’t the prices go up when the rich make more money? It only happens when the poor make more money?
This is a common fallacy. I don't know how it came to be that some people assume that proprietors are getting rich of the back of their poor downtrodden employees. In reality, most small businesses are barely hanging on already. I know business owners that work 100+ hours a week, deal with constant gov't hassles, fees, taxes, regulations, and entitled employees, and end up making $5-10 an hour themselves.
@@BrianButterworth-s4z yes, that’s a different story. I am pro-business, and pro making money, and I don’t begrudge anybody making what they can… But I cannot find a way to justify in my mind. Individual people like a CEO getting paid eight and nine figures, and if the company goes under, or they get fired, they get a golden parachute anyway. I know, the market is what decides these things, but it still doesn’t make sense to me.
Because the rich make more money from owning/running successful businesses providing value for customers. The poor make money from government mandates/union deals where their pay is more than the value that they create, thereby causing inflation.
Most of the rich just bought stock and didn't bring anything to the company, they are just there to collect dividends. The poor are the ones providing the services/products.@@jpmiller99
i suspect the issue is LA trafffic. a driver cannot make that many deliveries. if an average person orders $20 in food, but the driver can only deliver 3-4 orders per hour, then factor in slow parts of the day
I am from Idaho and just returned from a trip to the Bay Area. Shocking how expensive California is. I would estimate everything was around 30% more than where I live with the exception of housing and gas. That was 50% higher. My heart goes out to the poor people of California. I have no idea how they make it financially.
The Pizza Hut layoff is more like 2,000. The 1,200 are from one group of Pizza Huts, but another company that owns aditional Pizza Huts are also laying off over 800 delivery drivers. McDonalds already announced they are raising prices in California, to be honest though they are already way to expensive for the food you get there so I can't imagine what the cost increase is going to do their prices. San Francisco is doing the New York City thing now of trying legal extortion of its businesses and citizens to stay afloat while they give away money to every bum they can find.
How hard is it to put a Pizza into the oven wait 20 minutes & you have a hot meal ? Its usually better because I add shredded cheese & ground up fresh garlic ! Its about 1/3 the cost too ! I think the DEEP Pocketed fat cats will be the most upset. There is always Doordash anyway for food deliveries for those Lazy people.
I live outside the US most of the year. The cost of living here is lower. Americans come to our cities and a single guy will rent a 3-bedroom apartment with a kitchen. Then he will eat half of his meals out and have the rest delivered to his apartment. These spoiled brats are driving up the cost of living for the locals. Most Americans live a life that is completely unexamined.
This sort of thing has been tried in Korea with disaseterous results. Under the fanciful name of "Income Driven Growth", the largely left-leaning government claimed that increasing the income of people (mostly at the lower end) will drive economic growth. The ridiculous attempt only ended up driving small businesses out of, well, business. Ignoring market forces has disasterous results.
They don’t want to own up and say they was wrong and all the stupid laws and rules has destroyed the state and why should they, they getting payed to do whatever they like with no accountability….if was a private company they would have been fired and in prison for theft and fraud 🥴🙄🤦♀️🤡🧹
I think the only way we close the wealth gap & peoples get paid a livable wage is to put a pay restriction on CEO salaries e.g the lowest paid employees & the highest paid employees should have no more then 200% pay difference including any & all bonus, stock options, etc… no stock buyback for corporations. In Norway the pay difference is 75% between the highest paid and lowest paid positions. US needs to invest in its citizens, education, infrastructure, etc
business always hates to pay their employees a living wage. how high do you think the workers are going to live off $20 per hour when rent is $2200+ a month? is there any movement to cut CEO or management pay? NO! They can NEVER make enough money. Henry Ford when fellow business owners complained he was paying his worker too much said; "If i don't pay them well they won't be able to buy anything including my product"
Just a friendly FYI Michael ... in California independent contractors already make 1.2x their local minimum wage under California's prop 22 that I believe went into effect 2021. We were the first state to do that and now other states are looking to add legislation to curb Doordash and other gig apps from sneaking in such cheap labor. Great videos as always 😊
That seems to have had a few negative repercussions too. I've had trouble getting Ubers in multiple cities in CA and the drivers said it was because that Uber passed the mandatory benefits costs onto drivers. Between that, high fuel prices and high insurance rates a lot of the drivers gave it up. I had one who had an older Hyundai minivan he said he paid $1800 for and put 100K miles on it within a year and that's how he makes good money. The ones who take on new car payments or lease a car from Uber end up making squat after expenses. It's not just a California issue, but it's a bit worse there due to the rideshare rates not matching the higher cost of living (driving) there and I'm sure Uber is afraid to raise it enough for fear of losing customers. Unfortunately, those at the entry level will always suffer regardless of the minimum wage. Everything else just adjusts up to still leave them broke at the end of the month.
I told my husband about 6 or seven years ago. Who is going to be responsible for accidents when you are driving a gas powered car and you get in an accident with a self driving vehicle. The person who is driving the car is always going to be at fault and here you go 🤷🤷♂️🤦
The song? Scorpions - Still Loving You . As a former resident of a car production town (Janesville,WI) to another, rock on good sir! Love your channel. Keep the content flowing. You're doing a great job!
YUP I live in CA....For now....20 an hour for fast food workers. 16 an hour for minimum wage. I just work by myself. I have been outraged by the CA government for a very long time since Jerry and Gavin have just made a left turn.
@@angelicfurry301 business profits should create wages not government. if they want businesses to pay more make it more profitable for the businesses to pay. Oh wait that is a republican idea.
They are saying to rush to buy now in Florida, bc the inventory is low and when the fed will lower the rate real estate prices will go up! Really? What about Hoa,assessments, property taxes and insurance, also will go down???
I only use the ones with coupons on uber eats as well. 😂 That is the only way. Uber has been greedy as of recently. I spoke with several drivers who complained they are making less and less per ride.
People: Hey government, the wages haven’t kept up with high living costs! Do something! Government: ok here is a law that increases wages. Business: If we don’t do wage theft we can’t exist. I’m doing layoffs. People: Wait… No! Not like that. You suck government!
Great video today, Michael. I'm retired but worked in the fast-food industry for 4 decades. Your comments are spot on. The margins at the restaurant level are thin. Always have been. There are two go-to items to cut when expenses like labor go up like Cali is doing. You raise menu prices and you cut the labor guide. So, your food will cost more, and the service and food quality will decline. Also, understand that the less people you have in a restaurant, things like cleanliness and sanitation also decline. Yummy. And less people mean people take shortcuts to get the job done and shortcuts can put food safety at risk. Just more insanity from the left coast. And Democrat governors don't care what taxpayers or American citizens think or want. They know what's best for you. So just shut up and sit down and do what you're told.
TL:DR Video is a 23 minute-long screed blaming workers for demanding to get paid enough to live instead of blaming corporations for paying hundreds of millions to executives and shareholders and for charging too much for literally everything making it unaffordable to live-- while exploiting the people who are producing the actual profit. If you want to hear this dreck you might as well listen to old Milton Friedman tapes from 1980 and then pretend that has actually worked for the last 40 years. Oh by the way, everywhere else in the developed world, fast food workers are paid living wages and the cost of the food is less than it is here. Imagine being stupid or selfish enough to believe the point of working is anything other than being able to support yourself. If a job doesn't pay you enough to afford to live, there's no reason to have it. Capital strikes and corporate greed are why prices go up, not workers demanding fair wages and working conditions. Neoliberal economics has been an abject failure for 90% of the world ever since Nixon and Kissinger had the bright idea in 1970 to bring it down to south America by force. Listening to this kind of ignorance will rot your brain. If you want lessons in economics, listen to or read Dr. Richard Wolff, Michael Blyth, Thomas Piketty, and Michael Hudson instead.
The food safety issue is ubiquitous around the country. Every time I decide to eat out I look in my freezer and end up fixing my own. Restaurants are on the decline, food is high while portions are shrinking and declining in quality and it scares me when I think of the shortcuts they are taking with shortages of workers and food items.
Labor costs are around 25% of a fast food restaurant's revenue. Let's say a Big Mac costs $5. Labor would be $1.25. Let's say labor costs go up by 20%. Now labor is $1.50. If you want margins to remain the same in $ terms, you need to raise the price to $5.25 or 5%. Not a disaster, Dude. Pay your damn employees and stfu.
I'm probably responding to a toddler sitting at mommy's keyboard, but I'll correct your failed 5th grade math and flawed assumptions with some facts. For starters, the increase in crew wages in Cali is 25%. And I'm going out on a limb here and assume you don't work in the food service industry, nor have you even been responsible for a restaurant P&L or you'd know better. So, here are some facts for the people who follow Michael's videos. A friend of mine is a decades long and very successful multi-unit franchisee of one of the big four fast-food chains. His sales volumes and operations are very good. His labor cost is 29-30% of sales. So, on lower volume, try to follow along, labor percent is even higher. See how that works? Food is just over 30%. Paper is 4%. So, COG's is right around 64%. It gets more complicated now so try to follow along. Business expenses like bank charges, technology and insurance are skyrocketing and eroding thin margins even further. You see, a P&L is a very complex thing. You can't simply pile on these kinds of increased expenses and not pass big increases to your customers. To paint such a simple-minded picture of what you consider to be a little wage increase shows you know nothing. And BTW, they are fully staffed so people like their jobs and are well cared for (obviously I'm not referring to Cali) and their average GM makes 80 grand. Try that with one of those worthless Bachelor of Something degrees. Now James, who should stfu? @@JamesG1126
People Are LEAVING FLORIDA in DROVES! (WHATS GOING ON?) th-cam.com/video/5PveilQiGAE/w-d-xo.html
little by little we run ourselves out of money in CA....then we sell our houses and move to other places. it is just crazy.
Let me guess the song you played at the end of the video: Forty Six and 2 - by Tool 😉
Shoulda played the Stratty!
@@mikesrandomvideos Greedy investors have caused the inflated housing and rental prices, not politicians. This is happening in many major metropolitan areas throughout the country.
@@gc-l.a.6024 politicians have made laws that are favorable to the people who are making the money. so yes it is political. Mostly in major cities because they are democratic.
I recognize the hardships that come with economic struggles like unemployment, job loss, inflation, housing market instability, political uncertainties, and the global impact of conflicts and wars. Making ends meet during such times can be incredibly challenging. To navigate this difficult period, considering alternative job prospects, enhancing skills through online courses, and expanding your network can heighten the chances of securing employment. Moreover, prudent budgeting, exploring available financial aid programs, and seeking assistance from community organizations can offer some relief. How are you currently tackling these challenges? Have you implemented any specific strategies to cope?
In my opinion, now is not the moment to rely on hearsay. Every individual, regardless of their level of experience as an investor OR in a financial market, requires guidance at some stage.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
When buying a new vehicle always pretend that you will finance through them, get them to write down all the prices, then pay cash.
My zoom zoom dealer didn't care.
He said they would only make about $100 off the financing.
He sold me the car for the invoice price, for cash.
what difference does it make if you pay it off in the first month?
As an previous dealer owner I can tell you one thing. You do not need to pretend anything. You are not obligated to tell them how you are paying you can say you are not sure yet. They will try to get you on a contract, Just follow the steps below, Put attention on what you want , not what they want.
1: Never negotiate payments, on a buy nor a lease.
2: After you negotiate the payment, then negotiate the interest rate, as per your credit.
3: Now they can tell you what the payment is, based on price and interest negotiated, not the other way around.
4: Before you sign the contract or lease, make sure you read all the items, Price given, Interest given, tax, fees etc.
( You cannot negotiate taxes, registration fees, does are government fees.)
If they want to trick walk away and go to another dealer.
@@oneemotiva4975 Don't they use a 4 box scam technique?
@@Joe-o4c4fIf you pay it off in the first month then why not just pay cash? 😂
20 dollars an hour. This was what I earned just only 10 years ago as an Engineer. I repeat, as an ENGINEER !!!! The market, the life is crazy. Everything is going wrong!
I agree the local Food Store paid more and No 95F and assholes too.🤢🤢🤢🤢
that was a bad salary. I made 22€/h, 20 years ago in France with all the social benefits that France offers (free healthcare, free education, high unemployment benefits...). You chose a very bad company to get paid that low.
Ok, when I retired 10 years ago. I was paid $35.00 HR. 30 hours O.T. inspecting Nuclear Reactors as A contractor perhaps 6 - 7 months a year. 🤔 Not just anyone can do that job mind you-!!!😉
Pizza Hut, and other well known fast food chains, is owned by Yum brands and posted revenues of $1.7 billion for the quarter ended September 2023. It also has a high net profit margin of nearly 25%. Corporate GREED is what is ruining the lives of hard working, low paid people. This isn't just a California thing.
Except for those owned by franchisees.
San Francisco needs to layoff public employees to balance their budget.
They need to lay off state and public employees to curve their pension fund debt. They owe 93 billion dollars in unfunded pension fund debt. No joke
They pay a ton to non-profits to do mostly nothing.
That might be a good start-???🤔. Then continue with a non cess pool party😈 democratic mayor-!!!😉.$20.00 an hour is investing in more Gov't subsidies to the unemployed & home less-!!!😉
As a US Citizen. I'm really DISGUSTED on how this CORRUPT POLITICIANS disrespect the TAXPAYERS.
Or, as they say, tax paying units.
they are not representatives as they could give a 💩 about the people that elect them. fot instance a majority of people want term limits but never a vote on it 😜
Politician don’t care, all they care is the next election how to get elected - can we say Pelosi.
lol. Blaming the politicians for living beyond your means.
@@petersinclair-day7499it's the politicians that made things beyond their means. Imagine living well within your means and politicians put their ideas into effect and cost you so much you can no longer live within your means. I know it, we lived it.
I live in Canada and it’s similar,no one wants to pay
No…not everybody. We do not want to exploit those who serve us for everything we want.
Given the massive influx of illegal immigrants.... (cheap labor), and a $20 minimum wage.... it's a blueprint for paying under the table. In Pizza Huts case, the delivery drivers will become 1099 Independent Contractors, not employees.
Hi , I tried to offer on a new condo paying cash ,the builder would not give me any break on the closing costs . They only give a break on closing costs to people that finance. This episode is on point!
You have no idea how insane clown world is going to get before this all unravels. We are just at the beginning!
🤡🌎
I think folks actually like you Michael l......I think it's your consistency of tone.....very non-threatening & easy on the ears. Happy New Year to you & your family.
Non-threatening??? Who's threatening you on TH-cam??? Whatcha scared of??? 🤷
😳🙄😒🤨😞😟😢☹️😕😨😧😦😮😯😲😳🤢
🤣🤣🤣
Non threatening to ear drums he means , smooth fine tone
True…very pleasant to listen to.
And right after the performance, Mike got a letter from the HOA. 85 decibels is the max allowed. He was at 85.2 decibels.
😂😂😂
Hope he received A 2 bd. Over the sound barrier fine-!!!😉.
didn't california just report they are short 68 billion on their budget. the state is in deep trouble.
They'll get bailed out by the federal government (our money from other states)
Just like Florida
They're short because they keep giving away Money recklessly
And Paying people section 8 that can really work. I heard they wanna start giving away money monthly just because to certain people. And they just announced I'm documented. People can now have Health Insurance. And i'm sure they don't mean they have to pay for it
@@markpaperhanger2481nah. Florida doesn’t have the same problems.
So you can add 68 billion dollar budget shortfall this year to the 93 billion dollars that the state of California owes in unfunded pension fund debt. And that's because they gave away too many pensions. Bankrupt
"... homeless industrial complex." That's it in a 🥜 shell🎉🎉🎉😊
Wow... Fast food workers get 20 bucks an hour in California.. maybe they can now afford to buy one of those million-dollar single family homes now 😜🤣
People who pay for food delivery are not price sensitive. And greedy companies will just increase prices.
Fast food buyers ARE price sensitive. Going to McDonald's for a good price and a quick meal is the basis of fast food places.
The people who are greedy are the Democrats who overtax, over regulate, and overspend in order to waste our money and staying power over minorities who get less than they would if politicians weren't blowing our money on bad schools, foreign countries, and Woke, Marxist ideology nonsense.
Exactly! Now the local Target near me has “Curbside Service”. People can no longer get out of their cars! Hope they’re charged double!
@@PETER394100it's a time saver. I can swing by after work to pick up my groceries and use that time to cook instead of shop
This will affect everything here in CA,, any employer paying under $20/hr will lose their employees to fast food 🤦🏻♂️ 😅
Good, they should be getting paid what it takes to actually live there
Wow, getting paid $20 an hour to put a hamburger in a paper bag.
I hope you don't mind paying $15 for that. Used to be five dollar hamburger
@@ginacardarella Yep. Then what happens is no one buys the food, then they law people off or close up for good.
@@ginacardarella
McDonald's first commercial slogan was, " A burger, fries, a small drink, and change back from your dollar. "
@user-xm9ft7ks7y I get it. I live in the greater Boston area. $$$$ However, fast food jobs were never meant to be a career to make your living. It will be good for students and teens or part-time gigs.
The best scene in Leave The World Behind was the self driving Teslas all smashing into each other, loved it!
I left San Diego 10 years ago for greener pastures in South Florida for work/tax reasons. My greener pastures aren't so green anymore as Miami is becoming more and more like California cities.
I sure do miss California and still own my home there as Im trying to hold on for 3 more years to retire early and relocate abroad. California needs a a complete overhaul.
The US need a complete overhaul. They let the rich take more and more of the wealth created by the workers
Yes, Florida is becoming another California. Any ideas where you want to relocate abroad?
Moving along sounds like it fits you good.
The overhaul will come AFTER the collapse.
Good for you. I plan to move out of the country once my dog passes. ❤
Take $20/hr. add workman's comp.+ matching FICA + unemployment ins. + all the other expenses related to business.
Increasing the minimum wage will never address the real problem. Fast food jobs were never meant to be careers.
So true
Back then you could be a cashier and still buy a house. Just having a job in society showed you were deserving enough to put food on the table, so what's changed?
@@Joyish94 what???? minimum wage never enabled anyone to buy a house. No, deserving enough to afford your lifestyle is dependent on your skill set.
My step mom retired from sears, I think she worked for them 25 years.
They still aren’t
Didn't Charlie Munger and Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into financial advisors for a strategy that suits your timing....
i've been doing this same thing myself. Can't get into trouble with the IRS when I have no income and all my money is in stocks. I don't like doing the work though. Lol. So I just invest through an advisor who does the stock picking. My money grows, and I'm tax-free...
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Credits to 'Natalie Lynn Fisk' she has a web presence, so you can simply
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I loved the story you talked about in Texas. About new construction making current houses almost impossible to sell for the price the delusional owners think their house is worth. It is just glorious to hear. They need to come to the realization that most people overpaid for the houses during the pandemic trying to "escape" locked down states for more freedom. All those people destroyed several states including my state of FL. Nothing good has come to the state of FL since 2020. Why would potential buyers want to buy a used older house when they can buy a brand new house for cheaper price and lower mortgage rate. I understand it is only for the areas where inventory is exploding, but there is a major lag in inventory and that inventory overload is on its way to most areas in FL. The same is happening in other states as well.
It does seem that sellers in some areas of Texas are trying to chase down the market with price drops and still some of these houses are sitting for an significant periods of time because prices are still too high. I don't really want a new construction home but if these sellers don't price their homes competitively then what choice do I have. As far as Florida, I hear they have big home insurance problems which could keep people away.
I was watching a video from a labor lawyer in Cali that was saying the firings and price increases from chain restaurants have nothing to do with the new labor laws because they don't go into effect until April. Its crazy that educated people legit think that it doesn't count as a cause unless they wait until it takes effect. Its even crazier that people are so uneducated when it comes to business that they have no idea that these companies are naturally going to pass on those costs to customers. They will because thats how business works. They profit by having a product or service that people or other businesses want and charging those customers for the costs they incur plus a premium. This should be standard knowledge, but our schools seems more interested in teaching people nonsense while our society literally decays around us.
Very few politicians ever ran a business
Next it'll be "We need a $25 minimum wage!" Then $30. $40. $50... And they still won't figure out they're the ones doing the damage to themselves. You would think after touching a hot plate so many times, they would know to keep their hand away. But no. They're confused every time they get burned.
@@McJorneil so let's pay them $2/h then if it's better for the economy or maybe have people do those jobs for free
The last thing the Teachers Unions want is Public K-12 teaching financial literacy.
If they did teach Financial Literacy, Democrats would lose all elections. And people would demand an end to 50% of public education systems systemically failing their students.
Banks, Financing Co's, Wall Street... they make money hand over fist of consumers who just look at everything as "monthly payments.".
Newson is a muppet of WEF!🤷🏻
I won't be visiting Illinois. I'm not gonna take a chance of getting pulled over by a non citizen cop with a gun.
This what the uaw did. The workers think they won until they get laid off!
"Full pay till last day!" is the UAW motto
@@s99614 They will simply have to lay off half of the workers making less than $20. It is amazing what you can do more. ALL grocery chains ALWAYS have thin margins.2024-2025 is a great reset! Maybe, many of these locations should not have been business to start with! The government is touting record available jobs, right? Jerome Powell has hinted that we have too many jobs! Have a backup plan!🤩
@@s99614 Well it may be full pay till the last day but no more GM job bank like they had 25 years ago. Pink slip call unemployment and start submitting applications online.
The CEO's need to take a HUGE pay cut in this country ! Since 1985 the average Blue collar worker got about 27% pay increase - CEO's got 370% pay increases !
I don't know. The greed at the top isn't helping anything or anyone😊
We have been losing to capitalism for decades with wages and inflation. No matter what corrections take place the corporations will keep digging a deeper hole.
lol...40k a year to flip burgers.. Ya thats a sustainable business model. 40$ Cheeseburgers and 10$ Sodas coming soon.
Hyperinflation all by design...pucker up 😊
They have AI, flipping burgers now and robots hanging sheetrock, seen it on Fox Sunday, 6 months ago"
Ya thats insane , so hospital workers will make $80 a hour and cops &120 a hour and plumbers $500 a hour And a pound of stake will cost $40 . YGWYVF
Holy crap... So you're telling me in Illinois, they want you to break the law to house someone who's breaking the law...or else you're breaking THEIR law? Wtf!? 😂
It’s crazy. I was a telephone engineer!! Land line stuff in 2010 I was making 6 figures. There is no relation no transition to cell phones 2 different world ! I was smart dept free own lots of acres! And dept free. But I’m driving a ambulance today making 11 bucks a hour .. thousands have been layed off ! Major corporations have closed their doors in the last 2 months in my area in Ohio !
2024-2025 is a great reset! Maybe, many of these locations should not have been business to start with! The government is touting record available jobs, right? Jerome Powell has hinted that we have too many jobs! Have a backup plan!🤩
@@highvibrational2007 I was a land line. True telephone.. engineer.. now telephone companies are trying to close their offices! But the government won’t let them .. old land lines are aren’t effected by a emp .. phone companies have to forced To keep open ! They aren’t allowed to close! Losing money.. a emp. Takes out every cell phone instantly!
I can't imagine going from six figures salary to 11 dollars an hour. This is the real America
@@gregorylyon1004 thank obiden ,
Do what you gotta do, you gotta Eat"
Yup paid 50.00 for sushi tonight for two and the whole order wasn’t made correctly and Uber won’t credit me
These are entry-level jobs... Everyone should be getting a vocational/ trade liscense [realistic] or a degree. These entry-level jobs are really for teens and retirees. If you are planning on making a living with it... you MUST have a backup plan.
Lol in Florida apprentice electrians don’t even make a living wage. This country is becoming a race to the bottom with capital accumulation at the top. More and more homeless every year, more deaths of despair, country needs to desperately start investing in its work force and training programs.
@@davidmann2524
Very astute bruv! These noncomprehensive "conservative" talking points get so exhausting. The point of the forced wage wage increase is to share the wealth with individual workers in order to circulate the economy(read: so the averagr person can buy average goods/services). Or at least keep up with inflation... You dont need to be a communist to understand that an electrician is wiring house he could never afford to purchase while being on the verge of homelessness him/herself.
Im a staunch capitalist, be streamers, conservatives, corrupt politicians are begging for a collapse at best or commie revolt at worst, if white AND blue collar workers can afford to live.
Twenty bucks an hour? Which is 800 a week. Which is nearly 42000 a year - to someone who's had a couple of hours' training, to put a burger and fries on a tray. Compare that with the pay of a serviceman straight out of basic-training.
Another channel - California Insider - reported that San Francisco's budget is some 15 billion dollars - for a city of 750,000 inhabitants, which is 20,000 each. Insane!
P.S. My last McDonald's cheeseburger in London cost me £1.19.
Employers will eventually, have Robots, do these jobs. You don't have to pay them wages"
Great walk and talk as usual Michael 👍
Scorpions!
Still loving you!
Nice job, on the solo Michael!
I lived in Seattle when they bumped the minimum wage in Seattle/Sea Tac to around $15/hr - they made a law to force them to pay workers that wage in like 5 years. Now they are bumping ALL of Washington to $16.28/hr. Here's a few things that Seattle businesses did after this came into effect: 1) moved their business out of Seattle (loss of tax revenue), 2) cut worker's hours (loss of health insurance), 3) fired people (increased unemployment), 4) passed the cost of goods and services to customers in the form of higher prices (inflation), and 5) shutdown. The only 2 positive things from increased wages are : 1) momentary rise in pay, but will be nullified after maybe 6 to 12 months, 2) lawmaker looks good to the people who got the wage increase.
Minimum wage workers will go from earning $15/hour to $0/hour because restaurants will lay them off. How does that help anyone?
@@defyned so let’s decrease minimum wage to $5/hour so that will help everybody else?
@frenchfred3 Let the business decide what their minimum wage is. The government should get out of the market. The government wants to change prices but they can't change real costs.
yes like back in the 20s, let's have no minimum wage, no social security, no medicare or medicaid, no unemployment benefits, no vacation and let companies decide...and a 60% poverty rate.@@FromG2eminor
@@frenchfred3 I think pay should be based on the market demand, not by law, and between the employee and employer. A negative downside to high wages is now less experienced people, AKA kids, will not be able compete to get these jobs. For example, at a time, I was willing to take a pay cut to get a job that was going to give me the experience I needed to land future jobs. Now, I don't have that opportunity to negotiate a lower pay to be more competitive to land that job.
Never underestimate Cali and Illinois' ability to screw things up
Don’t forget NYC.
Too late.
Maybe people will purchase less pizza, I stopped ordering when Papa Jones started charge $50 for same order that was $20
Omgoodness I was appalled at how much fast food costs now; it's almost the same as mid tier restaurants 😮 we ordered KFC a month ago and thought the total would be $30 but it was $80. I almost choked lol never again.
@Ms.MD7 Yep , crazy
That’s exactly what will happen.
@ralphholiman7401 this is called economy 101😁
@@Alex-jx5bx , it's that same mentality you see at the movie theatre, where they charge $10 to see a movie at 20 out of 500 seats have people in them. Where if they charged $5, or even $1, they would probably make more money. It was especially perplexing to me at our local theatre that $1 tickets on Thursday nights, in my home town. It was standing room only, and then you would take a date on Friday night, pay $2.50 and be the only ones in the theatre. There were a lot of movies I would pay $1 to see that I wouldn't pay $2.50 to see. Same thing with Pizzas. I might eat three pizzas a week if they were $5, but not eat any (instead of just one) if they were $15.
Businesses are just doing business, as businesses do. Any business needs to match expenses to income. Period. Those that don't go bankrupt. That's the way it works. Raising the minimum wage raises the cost of doing business. How can it possibly be otherwise? Pizza hut is not the first business to exit a market because the costs of doing business in that market got too high. I doubt they'll be the last.
GM dealer offered a discount if I took financing instead of cash. With no pre-payment penalty, I took the deal & sent them a balance check 2 weeks later. No interest loan for 2 weeks.
I’ve done the same thing it’s been going on for years it’s a numbers game they get the credit for getting the loan
Im from California and i approve this message.
Add the Cali requirement to cover healthcare for illegal aliens ! A million new people clogging up Super expensive emergency rooms, etc . Go Gavin !
I would really try to avoid hospitals. I've heard of bills in the tens of thousands for minor treatment.
It's all part of the plan
Shits gonna turn 3rd world quick
@@libertyforamericanow Ya, look at Texas and Florida
Try to using your thinking cap. In order for domestic businesses to grow revenue they need more people to buy their products and services. The birthrate in the United States was not enough. In other words, immigration, including illegal, has fueled the economic growth in the United States the last 40 years. Illegals do put a burden on social programs. But businesses benefit from immigrants eventual added purchasing power, and suppressed wages for decades. People look for the government to solve the problems. The only way a state has to raise revenue is by taxation and fees.
the SF vs GM debacle sounds like a backroom gift to the Lawfirns.
We were laughing our butts off hearing the Illinois new laws. The lack of English skills will be a major problem.
Loved the end of the video, it was too short!
Denying a cash deal should be a criminal offense.
Michael I understand why you don't want to say it so I'll say it for you.
Vote every single Democrat in California out of office !!!!
Florida continues its relentless, inevitable slide into oblivion. Glad i got out years ago.
I bought a new truck a couple years ago....my finance at the time was 3% but Ford Motor Credit offered a 1k discount if you used them at 5%. I chose them got the discount and 30 days later I paid off the loan lol. If you have cash use the financing available that offers the best discounts then pay it off with cash! Unless there's a pre-payment penalty in which case move on....
Couldn't a cash buyer take the mortgage for the best price & then, pay it off within the first month or 2?
Sometimes there is a penalty for early pay off, but I was wondering the same thing. Surely it would still be cheaper to pay the penalty instead of all the interest?
In my state it's illegal to apply a prepayment penalty. Not sure if that's true all over?
Being from CA I seen this vicious cycle too many times. Its simple stop buying food from those resturants and let them cease from operating in CA, using an analogy its like buying a car. Have the buyer focus on dropping the monthly payment instead of the price. They extend the months but not the price.
Screw the corporations, the middle men, the restaurants, the hotels, the airlines. all of them. I'm keeping my money, cooking at home, and staying at home. Not participating again until the prices come down and the crooks are all rounded up.
Fade to black? 🎸
I lived in WA when they raised the minimum wage to $15 hr…
Within five to seven years my rent tripled and EVERYTHING in the state went way up in price.
I had to work my butt off to learn skills to make $20 an hour and live a middle class lifestyle. Raising the minimum eliminated that and I had to move.
the government needs to stop
When people stop voting for these people then things will change.
Stop voting period it all stops.
As if your votes actually matter, especially after what the whole world witnessed in real time what happened in US 2020 election in which the Joos and their traitorous minions RINO's and DemRats openly stole the votes, unfortunately. "It's Not Who Votes That Counts, It's Who Counts The Votes"- Stalin
Our votes count?
Yep, I've been saying that FOREVER!
These crooks will straighten up then!
Couldn’t agree more.
It pisses me off that politician's annual raise are always more that inflation. We could function perfectly with 1/2 of our government, how about they start laying people off.
It’s weird how there’s always millions in bonus money available for executives but there’s never a way to keep cost down unless they’re exploiting their workers.
ABSOLUTELY 🎯💯. IT'S SAD. $20 PER HOUR IS BARELY A LIVABLE WAGE SMH
Lenders are betting on you'll never pay off that mtg or auto loan. System is designed to extort as much life force out of you as possible, and largely succeed as folks fall into the trap.
Undocumented people can buy everything that citizens can purchase in most states. Yes, our laws are screwed up everywhere including in Florida!
Michael is a' rockin' on that guitar!
Happy New Year!
Great content,& mini concert Michael! You’ve got skills, in all aspects of this life we live in.💯😀👏🏾💜✝️🙏🏾🇺🇸
I don't think the layoffs are the result of wage increases. I think they were going to do that anyway and were looking for something to blame it on. They would probably rather buy a self-driving car than pay someone a living wage.
Michael, I love the way you tell it like it is without getting political.
What exactly do you mean? What is your definition of “political “?
Seems to me Being political is about speaking up for beliefs and priorities and principles
People who are scared to be Political are allowing others to establish the rules and constraints.
Speak up and speak out before its too late.
You didn't view the whole video obviously. He was political as can be.
It's political
@@Miranda3730 i was replying to the commenter, not to Mike!
Hello Mike just wanted to let you know your videos are spot on glad you are saying what most people are so lost about its scary to think that as many people have their heads in the sand I live in Mississippi and it's been a crazy 4 or 5 years keep doing what you do great job and education have a good day
Michael you just teased us with your guitar 🎸 play. Thank you for another one of your truthful videos. God Bless & HAPPY NEW YEAR, TMP from N.J.
Florida is turning into California, Illinois.
This is very unfortunate news about Illinois. I used to live in CALIFORNIA and I have family there. None of them own a home except one who drives two hours to work.
Thanks Michael!
Mike, I like your comments on the insanity going on with this politics.
California is a mess. I'll never visit out of principle.
I am waiting for the "You visited California 10 years ago tax."
its Bad.....but the liberals are all over thinking how great it is. Wait soon to come everywhere.
NY is just as bad and I won't go back there either. I'm glad my family understands.
Thank you!
What a stupid logic
With all of the self-checkouts at stores here in Florida the prices still went up at the stores for food and more. People are working for free bagging their own groceries and other items. Florida is just as bad if not worse than California per cost of living, and real estate prices.
for those new home builders that are requiring financing rather than cash, do those mortgages have pre-payment penalties? If not the cash buyers can just pay it off in the first month & be done with it. They can do the same even if there are penalties assuming they're not ridiculous, still beats paying interest. If the penalties are too stiff I'd tell them to go pound sand & buy elsewhere.
I bet your neighbors really appreciated that 60 second concert you give.
All these new business practices and automation and greed in operations is going to kill society. Everything will be non personal, expensive and stressful! Only the filthy rich will be able to enjoy !! Very sad and sick society!!!
When people make more money
Like those who are over charging for everything bought
Why doesn’t the prices go up when the rich make more money?
It only happens when the poor make more money?
This is a common fallacy. I don't know how it came to be that some people assume that proprietors are getting rich of the back of their poor downtrodden employees. In reality, most small businesses are barely hanging on already. I know business owners that work 100+ hours a week, deal with constant gov't hassles, fees, taxes, regulations, and entitled employees, and end up making $5-10 an hour themselves.
@@bams50 not talking about small proprietors. Talking about big corporations.
@@BrianButterworth-s4z yes, that’s a different story. I am pro-business, and pro making money, and I don’t begrudge anybody making what they can… But I cannot find a way to justify in my mind. Individual people like a CEO getting paid eight and nine figures, and if the company goes under, or they get fired, they get a golden parachute anyway. I know, the market is what decides these things, but it still doesn’t make sense to me.
Because the rich make more money from owning/running successful businesses providing value for customers. The poor make money from government mandates/union deals where their pay is more than the value that they create, thereby causing inflation.
Most of the rich just bought stock and didn't bring anything to the company, they are just there to collect dividends. The poor are the ones providing the services/products.@@jpmiller99
Exactly- San Francisco is dying
i suspect the issue is LA trafffic. a driver cannot make that many deliveries. if an average person orders $20 in food, but the driver can only deliver 3-4 orders per hour, then factor in slow parts of the day
Those fast food companies are going to leave California.
I do gig work and the people who complain about fair wages for us are ruining this type of work.
@@InjectBleachGetting paid for a service is a real job.
@@InjectBleach define what a real job is.
I am from Idaho and just returned from a trip to the Bay Area. Shocking how expensive California is. I would estimate everything was around 30% more than where I live with the exception of housing and gas. That was 50% higher. My heart goes out to the poor people of California. I have no idea how they make it financially.
The Pizza Hut layoff is more like 2,000. The 1,200 are from one group of Pizza Huts, but another company that owns aditional Pizza Huts are also laying off over 800 delivery drivers. McDonalds already announced they are raising prices in California, to be honest though they are already way to expensive for the food you get there so I can't imagine what the cost increase is going to do their prices. San Francisco is doing the New York City thing now of trying legal extortion of its businesses and citizens to stay afloat while they give away money to every bum they can find.
I like the guitar! So... your condo must have soundproof walls to keep the neighbors from calling the cops.
Happy New Year Michael! And thanks for the great content this year!
How hard is it to put a Pizza into the oven wait 20 minutes & you have a hot meal ? Its usually better because I add shredded cheese & ground up fresh garlic ! Its about 1/3 the cost too ! I think the DEEP Pocketed fat cats will be the most upset. There is always Doordash anyway for food deliveries for those Lazy people.
I live outside the US most of the year. The cost of living here is lower. Americans come to our cities and a single guy will rent a 3-bedroom apartment with a kitchen. Then he will eat half of his meals out and have the rest delivered to his apartment. These spoiled brats are driving up the cost of living for the locals. Most Americans live a life that is completely unexamined.
This sort of thing has been tried in Korea with disaseterous results. Under the fanciful name of "Income Driven Growth", the largely left-leaning government claimed that increasing the income of people (mostly at the lower end) will drive economic growth. The ridiculous attempt only ended up driving small businesses out of, well, business. Ignoring market forces has disasterous results.
There isn’t a tax that lefties don’t love to impose.
They don’t want to own up and say they was wrong and all the stupid laws and rules has destroyed the state and why should they, they getting payed to do whatever they like with no accountability….if was a private company they would have been fired and in prison for theft and fraud 🥴🙄🤦♀️🤡🧹
I think the only way we close the wealth gap & peoples get paid a livable wage is to put a pay restriction on CEO salaries e.g the lowest paid employees & the highest paid employees should have no more then 200% pay difference including any & all bonus, stock options, etc… no stock buyback for corporations.
In Norway the pay difference is 75% between the highest paid and lowest paid positions.
US needs to invest in its citizens, education, infrastructure, etc
business always hates to pay their employees a living wage. how high do you think the workers are going to live off $20 per hour when rent is $2200+ a month? is there any movement to cut CEO or management pay? NO! They can NEVER make enough money. Henry Ford when fellow business owners complained he was paying his worker too much said; "If i don't pay them well they won't be able to buy anything including my product"
Just a friendly FYI Michael ... in California independent contractors already make 1.2x their local minimum wage under California's prop 22 that I believe went into effect 2021. We were the first state to do that and now other states are looking to add legislation to curb Doordash and other gig apps from sneaking in such cheap labor. Great videos as always 😊
That seems to have had a few negative repercussions too. I've had trouble getting Ubers in multiple cities in CA and the drivers said it was because that Uber passed the mandatory benefits costs onto drivers. Between that, high fuel prices and high insurance rates a lot of the drivers gave it up. I had one who had an older Hyundai minivan he said he paid $1800 for and put 100K miles on it within a year and that's how he makes good money. The ones who take on new car payments or lease a car from Uber end up making squat after expenses. It's not just a California issue, but it's a bit worse there due to the rideshare rates not matching the higher cost of living (driving) there and I'm sure Uber is afraid to raise it enough for fear of losing customers. Unfortunately, those at the entry level will always suffer regardless of the minimum wage. Everything else just adjusts up to still leave them broke at the end of the month.
I told my husband about 6 or seven years ago. Who is going to be responsible for accidents when you are driving a gas powered car and you get in an accident with a self driving vehicle.
The person who is driving the car is always going to be at fault and here you go 🤷🤷♂️🤦
Left ILL-INOIS in 2023. So glad I did! Another great video. Thank you Michael!
The song? Scorpions - Still Loving You . As a former resident of a car production town (Janesville,WI) to another, rock on good sir! Love your channel. Keep the content flowing. You're doing a great job!
YUP I live in CA....For now....20 an hour for fast food workers. 16 an hour for minimum wage. I just work by myself. I have been outraged by the CA government for a very long time since Jerry and Gavin have just made a left turn.
$20 an hour in CA is not really a livable wage when it’s barley a livable wage in Ohio. Retail needs to start paying a livable wage.
Yup me too!
@@angelicfurry301 Wages are market based. If people upskill themselves and don't take these jobs, that alone will drive up wages.
@@angelicfurry301 business profits should create wages not government. if they want businesses to pay more make it more profitable for the businesses to pay. Oh wait that is a republican idea.
@@jpmiller99 exactly the market will create wages not the government.
They are saying to rush to buy now in Florida, bc the inventory is low and when the fed will lower the rate real estate prices will go up! Really?
What about Hoa,assessments, property taxes and insurance, also will go down???
I only use the ones with coupons on uber eats as well. 😂 That is the only way. Uber has been greedy as of recently. I spoke with several drivers who complained they are making less and less per ride.
People: Hey government, the wages haven’t kept up with high living costs! Do something!
Government: ok here is a law that increases wages.
Business: If we don’t do wage theft we can’t exist. I’m doing layoffs.
People: Wait… No! Not like that. You suck government!
Great video today, Michael. I'm retired but worked in the fast-food industry for 4 decades. Your comments are spot on. The margins at the restaurant level are thin. Always have been. There are two go-to items to cut when expenses like labor go up like Cali is doing. You raise menu prices and you cut the labor guide. So, your food will cost more, and the service and food quality will decline. Also, understand that the less people you have in a restaurant, things like cleanliness and sanitation also decline. Yummy. And less people mean people take shortcuts to get the job done and shortcuts can put food safety at risk. Just more insanity from the left coast. And Democrat governors don't care what taxpayers or American citizens think or want. They know what's best for you. So just shut up and sit down and do what you're told.
TL:DR Video is a 23 minute-long screed blaming workers for demanding to get paid enough to live instead of blaming corporations for paying hundreds of millions to executives and shareholders and for charging too much for literally everything making it unaffordable to live-- while exploiting the people who are producing the actual profit. If you want to hear this dreck you might as well listen to old Milton Friedman tapes from 1980 and then pretend that has actually worked for the last 40 years. Oh by the way, everywhere else in the developed world, fast food workers are paid living wages and the cost of the food is less than it is here. Imagine being stupid or selfish enough to believe the point of working is anything other than being able to support yourself. If a job doesn't pay you enough to afford to live, there's no reason to have it. Capital strikes and corporate greed are why prices go up, not workers demanding fair wages and working conditions. Neoliberal economics has been an abject failure for 90% of the world ever since Nixon and Kissinger had the bright idea in 1970 to bring it down to south America by force. Listening to this kind of ignorance will rot your brain. If you want lessons in economics, listen to or read Dr. Richard Wolff, Michael Blyth, Thomas Piketty, and Michael Hudson instead.
The food safety issue is ubiquitous around the country. Every time I decide to eat out I look in my freezer and end up fixing my own. Restaurants are on the decline, food is high while portions are shrinking and declining in quality and it scares me when I think of the shortcuts they are taking with shortages of workers and food items.
Labor costs are around 25% of a fast food restaurant's revenue. Let's say a Big Mac costs $5. Labor would be $1.25. Let's say labor costs go up by 20%. Now labor is $1.50. If you want margins to remain the same in $ terms, you need to raise the price to $5.25 or 5%. Not a disaster, Dude. Pay your damn employees and stfu.
I'm probably responding to a toddler sitting at mommy's keyboard, but I'll correct your failed 5th grade math and flawed assumptions with some facts. For starters, the increase in crew wages in Cali is 25%. And I'm going out on a limb here and assume you don't work in the food service industry, nor have you even been responsible for a restaurant P&L or you'd know better. So, here are some facts for the people who follow Michael's videos. A friend of mine is a decades long and very successful multi-unit franchisee of one of the big four fast-food chains. His sales volumes and operations are very good. His labor cost is 29-30% of sales. So, on lower volume, try to follow along, labor percent is even higher. See how that works? Food is just over 30%. Paper is 4%. So, COG's is right around 64%. It gets more complicated now so try to follow along. Business expenses like bank charges, technology and insurance are skyrocketing and eroding thin margins even further. You see, a P&L is a very complex thing. You can't simply pile on these kinds of increased expenses and not pass big increases to your customers. To paint such a simple-minded picture of what you consider to be a little wage increase shows you know nothing. And BTW, they are fully staffed so people like their jobs and are well cared for (obviously I'm not referring to Cali) and their average GM makes 80 grand. Try that with one of those worthless Bachelor of Something degrees. Now James, who should stfu? @@JamesG1126
Home Builders in Ft Myers are giving Homes away. 30% lower per sq ft than Resale Homes! Just demonstrates what huge profit margins they have!
Nice guitar 🎸 play, Michael! 👍! And, your facial expressions? PRICELESS! 😁