292- PESSIMISM AT ITS BEST

THE SAYERS OF DOOM...
This little-pantie waist of a raise is no cause of distress. You will never know it even happened. See what our able and wise Chamber of Commerce leaders think of this little bit of scratch being dealt out at the huge rate of $20.00 dollars a week for the very lowest of wage earners. Is this meant to be a prediction of doom, the end of it all, the final straw that breaks the camels back? Or is it in some way telling us just what a bunch of greedy people are running our business community? See what the president of this all important business leadership has to say.........Saipan Chamber of Commerce president Juan T. Guerrero expects layoffs and work hour reductions to follow the federal wage hike legislation, which will raise the local minimum wage by 50 cents an hour two months from now...... Now if your business is so close to going under that you can't afford giving your very lowest paid "peons" this tiny raise, get out of business now, you will never be able to withstand the next round of tax increases, power increases, government fee increases or any of the higher cost of doing business that will inevitably come anyway. Quit now, get out.......
Guerrero said the impact of job losses and shorter work hours will offset whatever economic activity will result from the workers' increased buying power.
“The wage increase is good for the employees, but bad for the employers. The timing, everything is against us. Fifty cents at 80 hours is $40. Not many businesses will be able to sustain this additional cost. You can expect layoffs, reduction in work hours to take place,” said Guerrero, who spoke as an individual business. Following this argument, Guerrero said he doubts the increase in the paychecks of minimum wage earners will be significant enough to spur economic activity, but prices will go up everywhere definitely,” he said........ Now what is he saying? Is he speaking out of both sides of his mouth? It's to big for the employer,, but won't make a difference to the employee.......This is out leader speaking, what a narrow view of reality. I predict we will never even feel a bump in the road, lets wait and see who is right! Don't despair it will be O.K., don't worry, I promise. .......GED.....