The Most Serious Issue Facing America and the World

[The Rabbi]

The biggest issue is min wage and other labor laws that increase the cost of labor. Increase the cost of anything, you sell less of it. Basic Econ 101. If we eliminated most labor laws there would be a flood of new businesses cropping up of all kinds, eventually generating higher and higher wages. But with a flood of low skill workers at the bottom everyone else is stuck there too.
As usual government is not the answer to the problem. Government is the problem.

 

[georgephillip]

If we eliminated most labor laws there would be a flood of new businesses cropping up of all kinds, eventually generating higher and higher wages. But with a flo

What level do you think wages would initially fall to should minimum wage laws disappear?

 

[Roadrunner]

Yes, there are low end services, but there are also financial services

So banks, where growth is adding more and more relatively low pay tellers positions.

entertainment

Movie theaters, sporting events. Predominantly staffed by low paid positions.

travel

Hotels, my field. The industry of low paid front desk clerks and housekeepers.

and endless high end services.

Like luxury town car and limousine services when you go out and stay at a nice hotel and want to go out to dinner. Those drivers are fairly low paid as well.

Services economy doesn't mean just low end jobs. Services businesses are higher margin businesses

Yes. And how do they maintain high margins? By charging top dollar, and paying low dollar. If you come into my hotel and pay $350 for a night, do you actually know how much that costs us in overhead? Let's just say it's a big margin. A very, very big margin!!

Low skilled people fill low skill jobs.

Has always been that way.

 

[SwimExpert]

Yes, there are low end services, but there are also financial services

So banks, where growth is adding more and more relatively low pay tellers positions.

entertainment

Movie theaters, sporting events. Predominantly staffed by low paid positions.

travel

Hotels, my field. The industry of low paid front desk clerks and housekeepers.

and endless high end services.

Like luxury town car and limousine services when you go out and stay at a nice hotel and want to go out to dinner. Those drivers are fairly low paid as well.

Services economy doesn't mean just low end jobs. Services businesses are higher margin businesses

Yes. And how do they maintain high margins? By charging top dollar, and paying low dollar. If you come into my hotel and pay $350 for a night, do you actually know how much that costs us in overhead? Let's just say it's a big margin. A very, very big margin!!

Low skilled people fill low skill jobs.

Has always been that way.

That is overly simplistic and vague. But more importantly, you missed my point entirely, which was to debunk Kaz's idea that there is a meaningful difference in wages between "low" vs "high" end services.

 

[Roadrunner]

The biggest issue is min wage and other labor laws that increase the cost of labor. Increase the cost of anything, you sell less of it. Basic Econ 101. If we eliminated most labor laws there would be a flood of new businesses cropping up of all kinds, eventually generating higher and higher wages. But with a flood of low skill workers at the bottom everyone else is stuck there too.
As usual government is not the answer to the problem. Government is the problem.

The biggest issue is overpopulation, world wide.

Reduce that to a reasonable level, and quality of life for all will rise.

Look what China has done with population control.

Not always nice, but, the results are impressive.

Contrast with Chicago.

 

[SwimExpert]

The biggest issue is min wage and other labor laws that increase the cost of labor. Increase the cost of anything, you sell less of it. Basic Econ 101. If we eliminated most labor laws there would be a flood of new businesses cropping up of all kinds, eventually generating higher and higher wages. But with a flood of low skill workers at the bottom everyone else is stuck there too.
As usual government is not the answer to the problem. Government is the problem.

Even when you're barking up the correct tree, you still fail spectacularly. A "flood" of low skilled workers? Are you serious? So the fact that a minimum wage exists somehow creates a gluttony of low skilled workers? How fucking stupid are you? Every time I think I've seen the worst from you, you just come back and go over the top with absolute idiotic bullshit.

Having a minimum wage does not suddenly zap people and turn them into low skilled workers. That kind of stupidity puts you right on the same level as Rdean and Franco.

 

[SwimExpert]

The biggest issue is min wage and other labor laws that increase the cost of labor. Increase the cost of anything, you sell less of it. Basic Econ 101. If we eliminated most labor laws there would be a flood of new businesses cropping up of all kinds, eventually generating higher and higher wages. But with a flood of low skill workers at the bottom everyone else is stuck there too.
As usual government is not the answer to the problem. Government is the problem.

The biggest issue is overpopulation, world wide.

Reduce that to a reasonable level, and quality of life for all will rise.

Look what China has done with population control.

Not always nice, but, the results are impressive.

Contrast with Chicago.

So.....communism is the answer?

 

[Freemason9]

They say that with every generation of technology

Yet the last generation of technology decimated our job force. Hitting the middle class particularly hard, as manufacturing jobs were lost to off-shoring.

We may see the same kind of decline with this new generation of technology.

Liberalism is what is costing us jobs. Going offshore for economic reasons is good for our economy. Going offshore to escape endless government
taxes, mandates and regulations is not and companies are going offshore for both reasons.

We are also a services economy and becoming more so. And anyone who wants a job can get one. Unfortunately people think it's more embarrassing to have a job they don't want than be unemployed.

Not sure though how our companies shutting down because they can't compete with international competitors helps jobs either.

The bottom line is any harm done to our economy in this "last generation" was created by fear and resistance to change, not by accepting it. Our business culture is the best in the world. Stop handicapping us with fear

If you can't let go of blind political ideology long enough to think about the topic at hand, I encourage you to go back to the "politics" section.

 

[Roadrunner]

The biggest issue is min wage and other labor laws that increase the cost of labor. Increase the cost of anything, you sell less of it. Basic Econ 101. If we eliminated most labor laws there would be a flood of new businesses cropping up of all kinds, eventually generating higher and higher wages. But with a flood of low skill workers at the bottom everyone else is stuck there too.
As usual government is not the answer to the problem. Government is the problem.

The biggest issue is overpopulation, world wide.

Reduce that to a reasonable level, and quality of life for all will rise.

Look what China has done with population control.

Not always nice, but, the results are impressive.

Contrast with Chicago.

So.....communism is the answer?

Still the most effective way yet to jerk a backward people forward a few centuries.

Do you think 8 billion Third World subsistence level peasants denuding the planet for their daily firewood ration is a good thing?

How would YOU solve the over-population issue, by war and pestilence, or by authoritarian planning?

 

[Freemason9]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

 

[kaz]

They say that with every generation of technology

Yet the last generation of technology decimated our job force. Hitting the middle class particularly hard, as manufacturing jobs were lost to off-shoring.

We may see the same kind of decline with this new generation of technology.

Liberalism is what is costing us jobs. Going offshore for economic reasons is good for our economy. Going offshore to escape endless government
taxes, mandates and regulations is not and companies are going offshore for both reasons.

We are also a services economy and becoming more so. And anyone who wants a job can get one. Unfortunately people think it's more embarrassing to have a job they don't want than be unemployed.

Not sure though how our companies shutting down because they can't compete with international competitors helps jobs either.

The bottom line is any harm done to our economy in this "last generation" was created by fear and resistance to change, not by accepting it. Our business culture is the best in the world. Stop handicapping us with fear

If you can't let go of blind political ideology long enough to think about the topic at hand, I encourage you to go back to the "politics" section.

If all you saw was politics in my reply then I"m not the one having an issue with blind ideology

 

[kaz]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

All money comes from companies making a profit. Profit is the new money that grows our economy, companies creating value. Think about it, taxes, income, investments, it is all derived from evil, evil profit. Makes you sick, doesn't it?

 

[Roadrunner]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

People content to be ruled like peasants probably deserve feudalism.

Was it Franklin who left the Constitutional Convention, and said to the people, "we have given you a Republic, if you can keep it."?

Looking like we can't keep it.

 

[Freemason9]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

All money comes from companies making a profit. Profit is the new money that grows our economy, companies creating value. Think about it, taxes, income, investments, it is all derived from evil, evil profit. Makes you sick, doesn't it?

You have a weird grasp of economics. In the federal reserve system, all money comes from debt creation. New debt is issued on the belief that tomorrow's economy will be wealthier than today's economy, and that has been true for the most part. We need a larger money supply to reflect more value in the economy.

All profit comes from labor. All of it. The central issue in the future will be based upon why labor doesn't receive adequate compensation from its efforts.

"Profit" is not an economic imperative, but INCOME certainly is. At the base, all economic activity is based upon compensation for labor. "Profit" is whatever is retained by businesses AFTER labor is compensated.

 

[Freemason9]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

People content to be ruled like peasants probably deserve feudalism.

Was it Franklin who left the Constitutional Convention, and said to the people, "we have given you a Republic, if you can keep it."?

Looking like we can't keep it.

I don't know if people deserve feudalism, but they are certainly being driven into it by the lordships. Remember, though, that revolutions invariably occur because of wealth and income inequality--so the lordships can overstep, and quite often do so.

 

[Roadrunner]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

People content to be ruled like peasants probably deserve feudalism.

Was it Franklin who left the Constitutional Convention, and said to the people, "we have given you a Republic, if you can keep it."?

Looking like we can't keep it.

I don't know if people deserve feudalism, but they are certainly being driven into it by the lordships. Remember, though, that revolutions invariably occur because of wealth and income inequality--so the lordships can overstep, and quite often do so.

Must be why the 1%ers that control the Dems push race war instead of class war.

 

[Roadrunner]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

People content to be ruled like peasants probably deserve feudalism.

Was it Franklin who left the Constitutional Convention, and said to the people, "we have given you a Republic, if you can keep it."?

Looking like we can't keep it.

I don't know if people deserve feudalism, but they are certainly being driven into it by the lordships. Remember, though, that revolutions invariably occur because of wealth and income inequality--so the lordships can overstep, and quite often do so.

Feudalism follows societal breakdown.

Embrace your inner serf or lord as the case may be.

 

[Freemason9]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

People content to be ruled like peasants probably deserve feudalism.

Was it Franklin who left the Constitutional Convention, and said to the people, "we have given you a Republic, if you can keep it."?

Looking like we can't keep it.

I don't know if people deserve feudalism, but they are certainly being driven into it by the lordships. Remember, though, that revolutions invariably occur because of wealth and income inequality--so the lordships can overstep, and quite often do so.

Feudalism follows societal breakdown.

Embrace your inner serf or lord as the case may be.

I'm not understanding your response. Define "societal breakdown," please, and identify why it grows.

 

[kaz]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

All money comes from companies making a profit. Profit is the new money that grows our economy, companies creating value. Think about it, taxes, income, investments, it is all derived from evil, evil profit. Makes you sick, doesn't it?

You have a weird grasp of economics. In the federal reserve system, all money comes from debt creation. New debt is issued on the belief that tomorrow's economy will be wealthier than today's economy, and that has been true for the most part. We need a larger money supply to reflect more value in the economy.

All profit comes from labor. All of it. The central issue in the future will be based upon why labor doesn't receive adequate compensation from its efforts.

"Profit" is not an economic imperative, but INCOME certainly is. At the base, all economic activity is based upon compensation for labor. "Profit" is whatever is retained by businesses AFTER labor is compensated.

Right, I keep following economics and you keep listening to liberal lawyers who obviously know more about economics, I'm just whacked, aren't I?

As for the Fed, you are talking about nominal money growth, I am talking about real money or economic growth.

Say kids have $10 in pretend money that represents an economy of 10 identical pencils. The value of a pencil is obviously $1. Let's say the teacher enters the game with another $10 but no pencils. The additional money didn't increase the amount of pencils in the game, it created no economic value. It just cut the value of a pencil to 50 cents and she stole half the money the kids had because before they could have 10 pencils between them and she just took 5 of them for herself for doing nothing.

That is the Fed, it steals from the American people, it is a criminal organization. And the money it issues is a pure regressive tax. Both conservatives and liberals would demand to abolish it if they were true to their values and they understand what the fed does. Companies create actual value because they take inputs and combine them into something more valuable than the sum of the parts. That is from where all taxes and income derive

 

[Roadrunner]

This is hugely important economic issue, and the answer will be transformative.

One way to consider this--when the technology emerges to allow trucks to move from one destination to another without drivers, be assured that the trucking companies will do just that. What happens, then, to the drivers as they all lose their jobs? Will we attempt to appease them through subsistance living based upon food stamps and housing support?

And (perhaps more importantly) how does the economy adjust to that huge drop in spendable incomes?

In other words, where will the money come from that the economy depends upon for consumer spending? Will we move back to feudalism?

People content to be ruled like peasants probably deserve feudalism.

Was it Franklin who left the Constitutional Convention, and said to the people, "we have given you a Republic, if you can keep it."?

Looking like we can't keep it.

I don't know if people deserve feudalism, but they are certainly being driven into it by the lordships. Remember, though, that revolutions invariably occur because of wealth and income inequality--so the lordships can overstep, and quite often do so.

Feudalism follows societal breakdown.

Embrace your inner serf or lord as the case may be.

I'm not understanding your response. Define "societal breakdown," please, and identify why it grows.

I am really not in the mood to teach the decline of Rome and rise of feudalism in the West this morning.

I got paid to teach, don't do freebies.

Try wiki.