The case for the minimum wage

Discussion in 'Politics' started by basquebromance, Sep 12, 2018.

  1. Meister
    Offline

    Meister USMB Mod Staff Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    33,690
    Thanks Received:
    9,389
    Trophy Points:
    1,400
    Location:
    Conservative part of the Northwest
    Ratings:
    +14,548
    Wages are seeing an increase over June and July. Aug. report is coming out on the 13th of this month.
     
  2. basquebromance
    Offline

    basquebromance Diamond Member

    Joined:
    Nov 26, 2015
    Messages:
    43,427
    Thanks Received:
    3,631
    Trophy Points:
    1,855
    Location:
    LaPorte, Indiana
    Ratings:
    +23,840
    let the record show nobody challenged my prediction that we're about to have a recession
     
  3. Brain357
    Offline

    Brain357 Gold Member

    Joined:
    Mar 30, 2013
    Messages:
    27,977
    Thanks Received:
    1,547
    Trophy Points:
    265
    Ratings:
    +6,949
    I’m leaning more toward the collusion. Have you seen a non compete? The ones I’ve seen include about every place a worker would go. And I’ve known people who weren’t hired because the hiring company knew the worker had a non compete. These could really be distorting the market.
     
  4. bear513
    Online

    bear513 Diamond Member

    Joined:
    Apr 21, 2012
    Messages:
    53,687
    Thanks Received:
    6,980
    Trophy Points:
    1,830
    Ratings:
    +35,797

    Kind of obvious ...


    Baby boomers are retiring and they are not going to pay newbies the same wage with not 20 years plus experience are they?

    Once again knowledge and wisdom are two different things

    .
     
  5. Brain357
    Offline

    Brain357 Gold Member

    Joined:
    Mar 30, 2013
    Messages:
    27,977
    Thanks Received:
    1,547
    Trophy Points:
    265
    Ratings:
    +6,949
    The increases have made them even with inflation, so not really an increase. Unemployment been low since obama.
     
    • Agree Agree x 1
  6. Brain357
    Offline

    Brain357 Gold Member

    Joined:
    Mar 30, 2013
    Messages:
    27,977
    Thanks Received:
    1,547
    Trophy Points:
    265
    Ratings:
    +6,949
    In theory it could have a downward effect on wages, but I don’t think there would be he numbers. People retiring isn’t new.
     
  7. McRocket
    Offline

    McRocket BANNED

    Joined:
    Apr 4, 2018
    Messages:
    5,031
    Thanks Received:
    700
    Trophy Points:
    275
    Ratings:
    +4,703
    IMO, the primary reason is below:
    [​IMG]Velocity of M2 Money Stock

    Because of the MASSIVE and unprecedented economic intervention by the Fed (and major, world central banks) since at least 2009, this has caused money to stop 'moving'.
    Instead of money changing hands - like in normal, healthy economies - existing money stays put while new, cheap debt is created and that is used. And so on. With QE and ZIRP, people don't need to make money, just take out more incredibly cheap credit. Corporations don't innovate - they just take out cheap loans, buyback their stock and sent their bottom lines skywards. Which is largely why most new jobs created are crappy.
    The added problem is, only the wealthy/corporations have easy access to this money. So they are the ones who get richer. And the rest get left behind.

    Finally, if you look at the chart above, two things stand out. 1) when money velocity is down, economies almost always suck (The gray areas represent recessions); and 2) the Velocity over the last few years is FAR lower than it EVER has been.

    The reason the chart is finally, slowly turning around is QE is almost over and interest rates are slowly rising. But, as you can see...it is still mired WAY down.
     
    • Informative Informative x 1
  8. bear513
    Online

    bear513 Diamond Member

    Joined:
    Apr 21, 2012
    Messages:
    53,687
    Thanks Received:
    6,980
    Trophy Points:
    1,830
    Ratings:
    +35,797
    Where besides Google , apple and the rest, it's common knowledge they keep wages low.
     
  9. basquebromance
    Offline

    basquebromance Diamond Member

    Joined:
    Nov 26, 2015
    Messages:
    43,427
    Thanks Received:
    3,631
    Trophy Points:
    1,855
    Location:
    LaPorte, Indiana
    Ratings:
    +23,840
    Dick Trumpka said he didnt fight for the minimum wage because Obama didnt fight for it. Obama failed to rally the troops!
     
  10. Meister
    Offline

    Meister USMB Mod Staff Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    33,690
    Thanks Received:
    9,389
    Trophy Points:
    1,400
    Location:
    Conservative part of the Northwest
    Ratings:
    +14,548
    What is your reasoning for a recession? Earnings have been good in the market this last quarter. I don't see a bubble in any sector.
    Is your reasoning because Trump in president?
     

Share This Page