Biden predicts restaurants and businesses will be 'in a bind' for some time due to labor shortages


by CNN

CNN— President Joe Biden conceded during a CNN town hall on Wednesday that certain businesses will remain "in a bind for a little while" with labor shortages, part of a major set of problems that's unfurling as his six-month-old presidency reaches a critical juncture.

ZeroHedge—Biden Downplays Inflation, Predicts Businesses Will Be In 'Bind' Over Labor Shortages, Then Has Brain Freeze. Biden Downplays Inflation, Predicts Businesses Will Be In 'Bind' Over Labor Shortages, Then Has Brain Freeze President Joe Biden waved off long-term inflation concerns on Wednesday, telling a CNN town hall in Cincinnati that it won't persist as the economy emerges from the pandemic. "There will be near-term inflation" because the economy is recovering, he said, adding that 'most economists' think "it’s highly unlikely that it’s going to be long-term inflation that’s going to get...

Business Insider—This pizza chain owner who pays $16 an hour says there's no labor shortage, just a shortage of businesses willing to pay a decent wage. Michael Lastoria, CEO of &pizza, told Insider he hasn't struggled to staff his 51 restaurants because he pays workers $16 an hour on average.

ZeroHedge—Here's Why America's Labor-Shortage Will Drive Inflation Higher. Here's Why America's Labor-Shortage Will Drive Inflation Higher Authored by Charles Hugh Smith via OfTwoMinds blog, Great swaths of the American workforce are already on strike or slipping away from the dead-end treadmill. America's labor shortage is complex and doesn't lend itself to the simplistic expectations favored by media talking heads. The Wall Street cheerleaders extol the virtues of "getting America back to work" which is Wall-Street-speak for getting back to exploiting...