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Inflation and the minimum wage #15827172 02/23/21
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Are they just trying to inflate the dollar until $15 is worth $7 so that the minimum wage has a chance of working?
And the dollar denominated national debt is worth less?
Or are they just crazy?


-OMotS



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Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827183 02/23/21
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All that minimum wages have ever accomplished is to get people laid off and raise prices.


Sin wouldn't be so attractive if the wages were paid immediately.
,,...............
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Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827206 02/23/21
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My parents bought the house I grew up in for $17,000 in 1971. Care to guess what it is worth today? About the same as in 1971. Care to guess what its dollar value is today?

Yes, they are intentionally inflating the currency in every way they can. They don't care about the debt, because they can inflate pay it off right now with more fake money. It's all a shell game for the people who create and manipulate the currency, and the purpose of the whole thing is to keep you creating real value and then exchanging that real value for fake money. That is power over you. That is you being a member of the slave class. That is them owning you.

That's what it's all about: them owning you. They don't care about the idiotic machinations that make such ownership easier to manage. People will spend tens of millions of dollars to get elected to Federal office so that they can be a part of the ruling class, rather than being rich slaves.


I belong on eroding granite, among the pines.
Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827225 02/23/21
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Here's what you need to know about the push for a higher minimum wage. Many union contracts are based on a scale that works off of minimum wage and require raises as the minimum wage rises.

IT IS A PAYOFF TO UNIONS for backing the Democrats.

one link of many on the subject:

https://www.forbes.com/sites/timwor...ise-in-the-minimum-wage/?sh=7b01effa3ae4


"The Democrat Party looks like Titanic survivors. Partying and celebrating one moment, and huddled in lifeboats freezing the next". Hatari 2017

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Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827226 02/23/21
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Quote
Yes, they are intentionally inflating the currency in every way they can.
I was in Home Depot yesterday. 7/16 OSB is up another $2 to $32/sheet. Last year it was about $7.


Sin wouldn't be so attractive if the wages were paid immediately.
,,...............
70. The age when your body gives your brain a list of things it isn't going to do anymore
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Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827231 02/23/21
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What does an increas in minum wage really do? It's a pay raise for union workers who make much more than minimum wage' it puts people out of work as business layoff as labor costs increase, and most importantly it becomes a barrier to entry level job creation preventing teens from entering the work force and gaining work experience.

Phouc that Dem mantra "We need a living wage". That is not what it is all about.

Last edited by hatari; 02/23/21.

"The Democrat Party looks like Titanic survivors. Partying and celebrating one moment, and huddled in lifeboats freezing the next". Hatari 2017

"Hokey religions and ancient weapons are no match for a good blaster at your side, kid." Han Solo
Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827278 02/23/21
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You can make “minimum wage” any number you want, when the dust settles from the gov. Interference, prices will adjust and you will still be the lowest earning bracket. Minimum isn’t a number, it’s an ordinal rank.

Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827297 02/23/21
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Originally Posted by OldmanoftheSea
Are they just trying to inflate the dollar until $15 is worth $7 so that the minimum wage has a chance of working?
And the dollar denominated national debt is worth less?
Or are they just crazy?


Exactly.

Also an excellent way to keep fixed income and Social Security viable.

We will keep your $512 monthly stipend fully backed.

But we are sorry that $512 is insufficient to put a half a tank of fuel in your vehicle.

The one I have not figured out yet it's 2% home loans. People have financed and refinanced and refinanced again and have locked in on 30-year fixed mortgages at absurdly low interest rates. It just seems completely illogical to me unless the government intends to take over the lending institutions and you have to pay back your mortgage with some type of government issued script or currency other than the dollar that is used in the free Marketplace.

In normal economics if you have a super low interest rate 30-year loan on a $400,000 house and hyperinflation occurs as a direct result of the issuance of unbacked and unearned fiat currency your house will appreciate substantially and you will be a huge winner at the end of 30 years.

There is no way that this can possibly play out... but I have not figured out the endgame yet.

Last edited by CashisKing; 02/23/21. Reason: Damn phone typos

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Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827303 02/23/21
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Yeah, I am all for politicians 'righting' to get me the 'minimum'..........................


I'm all for helping people, I often help people................ but I don't take them to raise, and you can't LIVE on my 'help'.....................

The FEDs need to learn and adopt that, IMHO.................

Re: Inflation and the minimum wage [Re: Rock Chuck] #15827306 02/23/21
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Originally Posted by Rock Chuck
All that minimum wages have ever accomplished is to get people laid off and raise prices.


AND..... buy votes.

IC-B

Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827380 02/23/21
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My kids' friends dad (and by proxy our friends now) is the COO of a retail store chain frequently found in malls around the country. Every year the minimum wage increases in Colorado, Arkansas, Missouri until it reaches whatever minimum wage they were trying to get. He said every year that costs them an additional $200k in wages. Their solution was they immediately cut 20% of the workforce and reduced their hours from 2 shifts to 1 shift. How's that working out for those high school kids and others that never improved themselves to make more than minimum wage? Best case, they're now working fewer hours. Worst case, sorry, you're part of the 20% that just were cut.

Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827385 02/23/21
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They are crazy, and see my sig line for the rest. smile

Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827531 02/23/21
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and increasing the minimum wage causes salary compression. Suddenly your worst employees are making more than your best ones. Those in turn demand a raise to keep up with the slackers. Endless cycle of financial disaster for business


Sam......

Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827575 02/23/21
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Liberals have no clue how the market works. When you increase the minimum wage, you disproportionately hurt unskilled people.

I will not pay someone who has $7/hr skills $15/hr. I'll fire those people and hire people who bring more than $15/hr value to my company and pay them $15/hr.

Dumb liberals.

Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15827958 02/23/21
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It's also a big influx of Fed tax,SS,Med etc,,

Once businesses adjust pricing to accomodate the wage we are back to square one.

Re: Inflation and the minimum wage [Re: TimberRunner] #15827966 02/23/21
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Originally Posted by TimberRunner
Liberals have no clue how the market works. When you increase the minimum wage, you disproportionately hurt unskilled people.

I will not pay someone who has $7/hr skills $15/hr. I'll fire those people and hire people who bring more than $15/hr value to my company and pay them $15/hr.

Dumb liberals.

Ditto

Last edited by Happy_Camper; 02/23/21.

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Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15828048 02/23/21
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When kids in school do not learn about how capitalism works they never understand inflation or anything else that has to do with money. Our schools are more concerned with gender, feelings, fake racism, injustices, woke culture, global warming than they are in teaching reading, math, real history, civics. capitalism, geography and how money works.

So the kids think raising the minimum wage is a great idea. And vote democrap.

Re: Inflation and the minimum wage [Re: Cheesy] #15830252 02/24/21
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Originally Posted by Cheesy
My kids' friends dad (and by proxy our friends now) is the COO of a retail store chain frequently found in malls around the country. Every year the minimum wage increases in Colorado, Arkansas, Missouri until it reaches whatever minimum wage they were trying to get. He said every year that costs them an additional $200k in wages. Their solution was they immediately cut 20% of the workforce and reduced their hours from 2 shifts to 1 shift. How's that working out for those high school kids and others that never improved themselves to make more than minimum wage? Best case, they're now working fewer hours. Worst case, sorry, you're part of the 20% that just were cut.
correct ,.at the Big name factory i worked at (you know the company, they got plants all over ,) every time we got a Union contract negotiated raise ,the company would then lay off X- amount of workers to pay for everyone elses raise ,they just put the work from the laid off workers on to other workers ,they even told us they was doing this ,and did it everytime for years ,did not work out for us in the long run . which is exactly what companies would do ,plus growing up in W.Va everytime the union miners got a new contract with a raise ,as soon as contract was signed ,store owners would raise their price to get a cut of that raise ,..negating the raise ,heard lots of miners complain about that growing up, I wonder if bussness will do this also?

Last edited by rem shooter; 02/24/21.

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Re: Inflation and the minimum wage [Re: rem shooter] #15830423 02/24/21
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Originally Posted by rem shooter
Originally Posted by Cheesy
My kids' friends dad (and by proxy our friends now) is the COO of a retail store chain frequently found in malls around the country. Every year the minimum wage increases in Colorado, Arkansas, Missouri until it reaches whatever minimum wage they were trying to get. He said every year that costs them an additional $200k in wages. Their solution was they immediately cut 20% of the workforce and reduced their hours from 2 shifts to 1 shift. How's that working out for those high school kids and others that never improved themselves to make more than minimum wage? Best case, they're now working fewer hours. Worst case, sorry, you're part of the 20% that just were cut.
correct ,.at the Big name factory i worked at (you know the company, they got plants all over ,) every time we got a Union contract negotiated raise ,the company would then lay off X- amount of workers to pay for everyone elses raise ,they just put the work from the laid off workers on to other workers ,they even told us they was doing this ,and did it everytime for years ,did not work out for us in the long run . which is exactly what companies would do ,plus growing up in W.Va everytime the union miners got a new contract with a raise ,as soon as contract was signed ,store owners would raise their price to get a cut of that raise ,..negating the raise ,heard lots of miners complain about that growing up, I wonder if bussness will do this also?

And down goes quality as the number of eyes decreases and the time spent on each unit decreases until demand at that price point decreases and the rest of the dominoes start to fall..


-OMotS



"If memory serves fails me..."
Quote: ( unnamed) "been prtty deep in the cooler todaay "
Re: Inflation and the minimum wage [Re: OldmanoftheSea] #15830454 02/24/21
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Originally Posted by OldmanoftheSea
Originally Posted by rem shooter
Originally Posted by Cheesy
My kids' friends dad (and by proxy our friends now) is the COO of a retail store chain frequently found in malls around the country. Every year the minimum wage increases in Colorado, Arkansas, Missouri until it reaches whatever minimum wage they were trying to get. He said every year that costs them an additional $200k in wages. Their solution was they immediately cut 20% of the workforce and reduced their hours from 2 shifts to 1 shift. How's that working out for those high school kids and others that never improved themselves to make more than minimum wage? Best case, they're now working fewer hours. Worst case, sorry, you're part of the 20% that just were cut.
correct ,.at the Big name factory i worked at (you know the company, they got plants all over ,) every time we got a Union contract negotiated raise ,the company would then lay off X- amount of workers to pay for everyone elses raise ,they just put the work from the laid off workers on to other workers ,they even told us they was doing this ,and did it everytime for years ,did not work out for us in the long run . which is exactly what companies would do ,plus growing up in W.Va everytime the union miners got a new contract with a raise ,as soon as contract was signed ,store owners would raise their price to get a cut of that raise ,..negating the raise ,heard lots of miners complain about that growing up, I wonder if bussness will do this also?

And down goes quality as the number of eyes decreases and the time spent on each unit decreases until demand at that price point decreases and the rest of the dominoes start to fall..


& eventually, the "Company" realizes that they are better off (financially) to import their product from some third world $hithole !


Paul.

"Kids who grow up hunting, fishing & trapping, do not mug little old Ladies"
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