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[54] Mike Shedlock and Jim Bruce on the US, the Fed and the minimum wage

CVS/Caremark, the largest drugstore in the United States, has announced that starting October 1st it will no longer sell cigarettes and other tobacco products. How do smokers feel about this move? And what kind of hit to revenue will the pharmacy chain take? Erin Ade reports.

Then, Erin talks to financial advisor and economic blogger Mike Shedlock. The US economy has seen an uneven recovery over the past four years. Despite the economic expansion, and the Fed’s efforts to put a floor under asset prices, many people are feeling the weight of poor wage growth. Will the minimum wage help? Or is the increase in consumer prices the problem? Shedlock gives his view.

Afterwards, Erin speaks to Jim Bruce, an award winning documentary filmmaker. His most recent film, “Money for Nothing: Inside the Federal Reserve” warns of a US central banking system that has, “lost its way.” Jim believes that the instability of the US economy has only increased once the Fed began taking extreme measures to pump liquidity into the markets via quantitative easing.

In the ‘Big Deal,’ Erin and Boom Bust producer Edward Harrison discuss an innovative solution to the minimum wage problem using e-payments to retail employees based on the Bitcoin algorithm.

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Mike Shedlock
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
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