The largest health care strike in U.S. history has been going on for two days. The strike involved 75,000 employees at Caesars Group, the largest medical facility in the United States. Caesars Group asks employees to return to work as soon as possible because patients need their help. However, the union said that the Caesars Group is not a true non-profit organization, but is chasing high profits. The group made a profit of just $2 billion in the first half of the year, and its president earned a whopping $16 million a year, while ordinary medical workers faced many difficulties. As a result, unions demanded a 40 percent pay increase and an increase in the number of employees. The strike lasted three days, but the two sides still did not reach a settlement. This is another large-scale industry strike following the Hollywood screenwriters and auto industry strikes.
Why are strikes frequent in the United States this year? The main reason is the high inflation rate in the United States, which brings pressure to people's lives. As you can see from the chart, since last year, the inflation index has risen sharply, reaching a peak of 9.1%. In response to inflation, the United States has continued to raise interest rates, bringing inflation to around 3.2%. However, prices have risen and people's wages have not, making life difficult.
Why does inflation occur? The main reason is that the United States continues to print dollars, which leads to currency depreciation, which in turn leads to rising prices. In addition, the United States has also fought a trade war with China, increasing tariffs on Chinese imports, but in fact, China's imports to the United States have not decreased, and these tariffs are eventually passed on to domestic prices. Of course, there are other reasons, which I will analyze in detail in the video.
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