The coming “all in” minimum wage of $12.17/hr equates to about $30,000 per year. Which prompts the question: What’s going to happen to the roughly 70 million jobs in America that cost employers less than $30,000 per year? The answer: they’ll disappear. As I mentioned last week, French McDonald’s workers know this all too well. To combat rising labor costs, McDonald’s has been installing kiosks to replace some of its French employees. France’s minimum wage is about $12.12/hour. This trend—the automation of low-skill human labor—is just getting started in America, but it will soon kick into overdrive. As the cost of low-skill human labor becomes prohibitive, businesses will search for mechanized substitutes. And the first call they’ll make is to the automation company we recommend in the newest edition of The Casey Report. If you’ve eaten at TGI Friday’s, used the self-checkout machines at Walmart, or printed a boarding pass at the airport in the last 10 years, you’ve used this company’s labor-saving products. Click here to subscribe to The Casey Report to ride this secular trend with us. Labor-saving automation is the trend of the future, and now’s the time to get positioned. I’ll now pass the baton to Doug French to continue the minimum-wage discussion. Then you’ll find a fun story from subscriber N P Chaudhri about a lucrative scam created by a communist cab driver.
- Items can be dropped off at any Alabama One Credit
- The precious metal equities continue to stink up t