Joe Biden, Jared, Financial Analyst discussed on AM Tampa Bay
97.9 FM HD too It's 6 23 on am Champa Bai and we're joined now by Jared Jillian, a financial analyst, and we want to take a look at the 2021. Economic picture what we're going to see happening in the future, and, um, Jared, I think you're predicting that because of the Because the covert 19 people are spending more money and going to spend like crazy, which means inflation is going to be going up. Yeah, we're gonna wait. We're gonna have lots of spending at the federal level. Uhm, you know Bernie Sanders is in charge of the budget committee, and he's pushed by very far to the left. And, um I'm going to use a process known as reconciliation. Word only requires 51 votes to push through economic legislation, and that's going to result in Ah, probably a bigger deficit than we saw last year. Last year, we had a deficit. 3.1 trillion This year. It's probably going to be even bigger. So yeah, there's gonna be lots of spending at the federal level lots of spending at the consumer level, and I do believe we're gonna see inflation get up to about three or 4% this year. Yeah, There's a lot of things where as far as the travel industry where it's pretty easy to travel if you want to during a pandemic, But looking ahead, a lot of people think. Well, maybe I could book by flights in the future for a lot cheaper. The only problem is it's hard to decide when to go and believe when things will be Safer during the pandemic here. So how are you seeing the prices impacted there as far as booking vacations in the future? Yeah, I mean, there's going to be an explosion of travel. Once most of the population is vaccinated. People are going to travel in unprecedented numbers. Uh, you know, flights are extraordinarily cheap. Right now. I recently got a first class ticket to Miami from Myrtle Beach for 480 bucks. That's a first class ticket. If you have the ability to plan right now, you can walk in some incredibly cheap rates. But the problem is is that we don't have the ability to plan I was supposed to take of vacation to Greece this summer. I'm not sure that I'm gonna get the back scene in time, so it makes it very difficult to plan. Yeah, and there might be some flight restrictions. Still at that point that might prevent you from one degrees. Yeah. I mean, I think as long as you have your vaccine paperwork, there was actually a neg Zeca tive order that was signed recently. That requires people to get a covert tests before coming back in the country. So it's still gonna be a huge hassle. One other quick thing here, and that is Joe Biden is pushing for the minimum wage all across the country to be $15. And that is downright stupid because $15 in some little rural part of Kansas has certainly different than $15 in New York City or Chicago or Miami. Yeah, I mean, the current federal minimum wage of $7.25. An hour was passed in 2008. And if you adjusted that for inflation to 2021, it would be worth about $10 an hour today what we should do. Is we should raise the minimum wage. I mean, cause I think the minimum wage is going to be a permanent feature of our economy. I disagree with it, but I don't think that we're going to get past her own economic illiteracy. I think we should raise the minimum wage to $10 an hour and then index it for inflation every year. Yeah, that makes all the sense in the world but still Given the $10 again in New York City is no big deal. But in Podunk, Iowa, it's a very big deal and It's gonna force People who lose their jobs and might even force him. Business is too close. It's just not a good idea. They've gotta understand this country is not all the same. Have three employees making $10 an hour and you make the minimum wage $15 an hour Now you have to fire one of those employees. You'll have two employees. They're getting paid more. I'm one of them. That is Pendant on government assistance, which I don't think it's really be. How come that we want No, I don't know if they're gonna get that through their brains or not. Or maybe Congress will have enough brains to keep that from happening. But we'll see. But Jared Billion financial analyst Thanks for joining us, you have a website. Sure, Please go to Jared. Gillian money dot com to check me out that scared Gillian money dot com J R E d d I l l I A N And thanks for being on board here this morning. Okay, Thanks. For what? Um, coming up. We're gonna be hearing I always looked forward to this. 7 20 is gonna be Lionel. What do you think he's gonna be talking about? I have no idea. It's gotta be good given all the things that are happening right now. But anyway, I'll make sure I play his music on time this week so he doesn't get upset with us. It's never good when we when we kick him off on a bad No, that's true. But I'm thinking he will probably Be talking about Biden's first couple.