Mike Shedlock and Jim Bruce on US, Fed & minimum wage
CVS/Caremark, the largest drugstore in the United States will no longer sell cigarettes and other tobacco products from October. How do smokers feel about this, and what kind of hit to revenue will the chain take? Erin Ade reports. Then, financial advisor and economic blogger Mike Shedlock discusses the US economy’s uneven recovery, and the Fed’s efforts to put a floor under asset prices, with many feeling the weight of poor wage growth. Will the minimum wage help or is inflation the problem? Documentary filmmaker Jim Bruce, whose film ‘Money for Nothing: Inside the Federal Reserve’ warns of a US central banking system that’s “lost its way.” In the Big Deal, Erin and Edward Harrison discuss an innovative solution to the minimum wage problem using e-payments to retail employees based on the bitcoin algorithm.