Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-14-2015, 12:16 PM
 
Location: Paranoid State
13,044 posts, read 13,808,417 times
Reputation: 15837

Advertisements

Quote:
Originally Posted by Opin_Yunated View Post
No, that does not drive inflation.

Inflation is caused by inelastic demand such as energy prices. Energy prices (and housing to an extent) drive inflation.
No, that does not drive inflation.

Quote:
"inflation is always and everywhere a monetary phenomenon."

-- A Monetary History of the United States, 1867-1960
Reply With Quote Quick reply to this message

 
Old 02-14-2015, 04:23 PM
 
Location: Proxima Centauri
5,768 posts, read 3,202,816 times
Reputation: 6094
Quote:
Originally Posted by Lowexpectations View Post
What was min wage 77 years ago?


Edit looks like the fair labor standards act of 1938 set a min wage of 0.25 per hour so without any taxes or expenses one would have to work 2400 hours to get that initial 600.00
I know that it was $2 an hour back in 1972.
Reply With Quote Quick reply to this message
 
Old 02-14-2015, 08:20 PM
 
Location: Sunnyvale, CA
6,288 posts, read 11,740,401 times
Reputation: 3369
Quote:
Originally Posted by mysticaltyger View Post
The problem is uneducated people don't invest in the stock market in the first place.
This can only mean they are smarter than those who do
Reply With Quote Quick reply to this message
 
Old 02-14-2015, 08:54 PM
 
33,016 posts, read 27,353,526 times
Reputation: 9074
Quote:
Originally Posted by Tonyafd View Post
I know that it was $2 an hour back in 1972.

I believe it was $1.90 in 1974.
Reply With Quote Quick reply to this message
 
Old 02-15-2015, 06:51 AM
 
Location: Elysium
12,309 posts, read 8,038,466 times
Reputation: 9123
Quote:
Originally Posted by freemkt View Post
I believe it was $1.90 in 1974.
May have been a local state minimum wage above the federal level.
Reply With Quote Quick reply to this message
 
Old 02-15-2015, 07:28 AM
 
33,016 posts, read 27,353,526 times
Reputation: 9074
Quote:
Originally Posted by Taiko View Post
May have been a local state minimum wage above the federal level.

??? The DOL says the federal minimum wage on May 1,1974 was $2.00 for some jobs, $1.90 for some (nonfarm) jobs, and $1.60 for some farm jobs.

http://www.dol.gov/whd/minwage/chart.htm
Reply With Quote Quick reply to this message
 
Old 02-15-2015, 08:48 AM
 
Location: Sunnyvale, CA
6,288 posts, read 11,740,401 times
Reputation: 3369
Quote:
Originally Posted by mysticaltyger View Post
And yes, I would say I'm pretty happy.
As long as you're happy, you have shelter, food, and friends, that's all that matters.
Reply With Quote Quick reply to this message
 
Old 02-15-2015, 09:12 AM
 
Location: Paranoid State
13,044 posts, read 13,808,417 times
Reputation: 15837
Quote:
Originally Posted by Opin_Yunated View Post
While I agree,

This has nothing to do with macroeconomics or the structural problem of pitiful wages in certain industries.
It has everything to do with the title of this thread. Your comment, however, is completely orthogonal to the discussion.
Reply With Quote Quick reply to this message
 
Old 02-15-2015, 09:15 AM
 
Location: Paranoid State
13,044 posts, read 13,808,417 times
Reputation: 15837
Quote:
Originally Posted by ncole1 View Post
Triple sigh, investment performance is not Gaussian distributed.
...and in other news, in a poll of 10,000 motor vehicle drivers, 100% rated themselves in the top 50%.

OK, the following picture shows the actual distribution of monthly returns of the S&P 500 vs. the Normal Distribution, and shows the skew and kurtosis. Feel better?



Last edited by SportyandMisty; 02-15-2015 at 09:48 AM..
Reply With Quote Quick reply to this message
 
Old 02-15-2015, 12:10 PM
 
18,495 posts, read 15,479,782 times
Reputation: 16163
Quote:
Originally Posted by SportyandMisty View Post
...and in other news, in a poll of 10,000 motor vehicle drivers, 100% rated themselves in the top 50%.

OK, the following picture shows the actual distribution of monthly returns of the S&P 500 vs. the Normal Distribution, and shows the skew and kurtosis. Feel better?

Why are we using a holding period of just one month, when the discussion was brought about in a context of people accumulating wealth over 10-20 years? Even a lognormal distribution is a better approximation to reality but still doesn't really cover tail risk.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top