While this should come as no surprise to any rational non-establishment-teet-suckling economist (and certainly not to our readers), former McDonalds' CEO Ed Rensi continued his crusade against the naive "solution" to poor living standards that has been peddled by a clueless administration in the form of a higher federal minimum wage, and after he patiently explained one month ago that "the $15 minimum wage demand, which translates to $30,000 a year for a full-time employee, is built upon a fundamental misunderstanding of a restaurant business just do the math" Rensi found that nobody has still done the math.
Which is perhaps why the ex-CEO reappeared on Fox Business yesterday to explain to Maria Bartiromo that as fast-food workers across the country vie for $15 per hour wages, many business owners have already begun to take humans out of the picture, McDonalds most certainly included.