Black Friday, Corporate Power, and the Federal Reserve: Economics, Inequality, and the Future of America*
As Black Friday approaches, we take a deep dive into its historical, financial, and political implications. Originally a term coined in the 1950s to describe chaotic post-Thanksgiving traffic in Philadelphia, Black Friday has since evolved into the unofficial start of the holiday shopping season—and a key event shaping the broader economy. From consumerism to corporate profits, labor issues to political debates, Black Friday is more than just discounts; it's a barometer for economic health, consumer confidence, and the growing divide between corporate America and the working class.
In this episode, we explore how Black Friday influences retail sales, worker conditions, and even the policies that shape our economy. While corporations like Amazon, Apple, and McDonald's rake in billions, workers continue to face stagnant wages and rising costs of living. We delve into the widening pay gap between C E Os and their employees, with S and P 500 C E Os seeing pay hikes of 13% in 2023, while the average worker saw just a 4% increase. We discuss how these disparities fuel debates about "greedflation" and economic inequality, and what can be done to close the gap.
Additionally, we examine the role of the Federal Reserve, an institution at the intersection of politics and economics. While it’s largely independent, the Fed faces constant political pressures, especially from figures like former President Donald Trump. We discuss whether the Fed can remain untouchable through 2026 and explore the delicate balance Chairman Jerome Powell must maintain between economic stability and political influence.
And what would the Christ say about all this.
Join us for a timely exploration of Black Friday’s cultural and economic impact, its connection to corporate power and worker rights, and how it all ties into the ongoing debate over economic fairness in America. From tax cuts to inflationary pressures, we connect the dots between past policies, current trends, and what the future may hold for both consumers and workers in a rapidly changing economy. And we include a Christian perspective.
Intro: Chasing Shadows
Outro: Chasing Empty Dreams