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Old 02-14-2011, 01:41 PM
 
240 posts, read 258,021 times
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Inflation is a deceptive way of lowering wages & defaulting on debt. Unfortunetly, it seems to be the only politically feasible way of doing it.

People tend to notice if you cut their paycheck by 25%, but if you inflate by 25% while keeping wages the same, you've accomplished the same task.
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Old 02-14-2011, 01:42 PM
 
781 posts, read 984,062 times
Reputation: 418
Quote:
Originally Posted by Atlas1337 View Post
Inflation is a deceptive way of lowering wages & defaulting on debt. Unfortunetly, it seems to be the only politically feasible way of doing it.

People tend to notice if you cut their paycheck by 25%, but if you inflate by 25% while keeping wages the same, you've accomplished the same task.

Yup.
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Old 02-14-2011, 03:04 PM
 
74 posts, read 77,033 times
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What I don't understand is why hasn't the Unemployment in Nevada or Las Vegas improved. Cosmopolitan hired 5000 workers. That is 3% of the unemployed number, but not even a tick in the unemployment level. There has been a lot more hiring activity in the last 3 months and still no tick in the unemployment level.
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Old 02-14-2011, 03:28 PM
 
240 posts, read 258,021 times
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Quote:
Originally Posted by thlf View Post
What I don't understand is why hasn't the Unemployment in Nevada or Las Vegas improved. Cosmopolitan hired 5000 workers. That is 3% of the unemployed number, but not even a tick in the unemployment level. There has been a lot more hiring activity in the last 3 months and still no tick in the unemployment level.
Unemployment numbers are statistical wizardry. The official UE rate doesn't count people who stopped looking for work. So, for example, if more people start looking for work today the UE rate would go up even if hiring increases.

There's also the perverse effect of extended unemployment benefits. I won't speak for everyone, but I have friends who simply claim to be looking for work to continue claiming UE benefits. I don't blame them, I would do the same. This keeps UE rates up, even if those same people are freelancing online or taking cash.
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Old 02-14-2011, 05:31 PM
 
Location: Las Vegas
270 posts, read 276,110 times
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Quote:
Originally Posted by Atlas1337 View Post
Chinese factory workers get about 50 cents an hour. Unless you think Americans are racially superior and have a God-given right to more, that's the price to beat. When you throw in the cost of transportation and dealing with a foreign government, I'd say a no-skilled worker here could easily fetch $2 an hour.

We have 13 million unemployed, but not one cell phone is manufactured in this country. Even at 50 cents an hour, wouldn't it be more productive to put that labor resource to work rather than have 'em twiddle their thumbs?
So...you're suggesting that to demand non-exploitative work practices, such as more than 50 cents an hour, implies one has a racial superiority complex?
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Old 02-14-2011, 06:00 PM
 
Location: NC
329 posts, read 302,124 times
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Quote:
Originally Posted by Atlas1337 View Post
Unemployment numbers are statistical wizardry. The official UE rate doesn't count people who stopped looking for work.

I seriously wish I understood this.

How, exactly, do you "stop" looking for work? Yes you may not be putting in as many (or no) apps.... but in reality you can't just stop.
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Old 02-14-2011, 06:21 PM
 
1,316 posts, read 1,482,495 times
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Originally Posted by tripleh View Post
I seriously wish I understood this.

How, exactly, do you "stop" looking for work? Yes you may not be putting in as many (or no) apps.... but in reality you can't just stop.
Really?



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Old 02-14-2011, 08:32 PM
 
Location: Las Vegas, NV
2,093 posts, read 2,223,363 times
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Yea in case people haven't noticed we have around 50,000 homeless and growing. They are completing another census which may show even higher numbers. Many are just average people who said screw it all together.
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Old 02-15-2011, 09:00 AM
 
1,396 posts, read 1,329,019 times
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Originally Posted by Atlas1337 View Post
People who are currently unemployed are earning $0, and having their skills deteriorate while on 99 weeks of UE benefits. $2/hour would be an improvement in that case.

Or we could keep wages artificially high -- to the benefit of those currently employed and at the expense of the unemployed. Do you know how high unemployment is among the youth & uneducated? Its because their skills don't command ~$10-15/hour. The government is robbing them of a chance to acquire skills and work experience. -- not to mention an honest paycheck.

You're probably at least half right but then companies have to sale goods closer to what they sale them to the rest of the world. On top of that China also needs to increase their Artificially low wages.

Our wages are artificially high while theirs are low.
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Old 02-15-2011, 09:06 AM
 
1,396 posts, read 1,329,019 times
Reputation: 964
Quote:
Originally Posted by thlf View Post
What I don't understand is why hasn't the Unemployment in Nevada or Las Vegas improved. Cosmopolitan hired 5000 workers. That is 3% of the unemployed number, but not even a tick in the unemployment level. There has been a lot more hiring activity in the last 3 months and still no tick in the unemployment level.

While I can't be certain on an answer I can tell you that not all people on UE are even from Nevada. Good portion of them are travelers in the construction industry and keep claiming NV because we pay more in UE than does their home state.

On top of this not all the people who get hired are from NV. People from all over the country apply and the hotel will accept the best applicants.

That and people are still getting laid off. Yes Cosmo hired 5k for example, but at the same time all the construction workers got laid off.
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