State of the Union Address = Nothing New (generation, CNN, suspect)
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You've returned empty handed again then. No content no argument
Let's see - I've posted several posts on this thread complete with a myriad of sources to back my assertions and opinions. Let's see if you can do the same.
Please explain how raising the minimum wage to, let's see, you recommended $12 an hour, "gets dollars moving around town." I take it to mean you think that would be a good idea - am I correct? If so, please explain how this would be good for the economy.
Let's see - I've posted several posts on this thread complete with a myriad of sources to back my assertions and opinions. Let's see if you can do the same.
Please explain how raising the minimum wage to, let's see, you recommended $12 an hour, "gets dollars moving around town." I take it to mean you think that would be a good idea - am I correct? If so, please explain how this would be good for the economy.
As you know I'm commenting on this min wage thing and the consequence of workers having more spending power. I have no idea what your thinking is and didn't quote any of it.... will go through the thread and try to understand where this confusion is coming from
When you raise minimum wage, ALL wages must be adjusted upward, which means the cost of labor goes up for ALL wage levels, not just your minimum wage earners. This impacts pricing, hiring plans, benefits, cost of goods from suppliers...and our unemployment rate.
SHEEEZE.
But hey, those minimum wage workers will vote for Obama, even after they lose their job or their cost of living goes up. They won't see the correlation - they'll just keep hatin' on da man.
They'll just have the wrong man in mind.
Ok...I disagree All out greed and selfishness is why the economy is what it is. Every dood on every corner and in every building wants to be a billionaire, just ask them.
Last edited by stargazzer; 02-13-2013 at 01:21 AM..
Yes, engineering jobs could be outsourced. However, companies aren't willing to do that. Apple has all the opportunity to leave a highly regulated and taxed state to set up shop over seas where production is much cheaper. Not to mention that a lot of engineering jobs are a security risk to export being that a lot of tech jobs are in the defense industry. DC has the most tech talent in the country. Those jobs aren't going anywhere anytime soon.
We've had relatively little true inflation these past years, which is actually quite a surprise. What ended up happening was the banks basically became a vacuum for that liquidity injection the fed prescribed to fix what ails us. Obviously, it didn't work, but it did cover an awful lot of undeserved CEO bonuses. Nice work Obummer...
Now, when the banks start unleashing that $$$ they've been investing in T-bonds and such, THEN you will see what inflation really looks like. And then you can REALLY give Obama a firm high five, from behind and round again. Maybe his buddy Jay Z will join in, since he pals around so much with him, instead of people who actually know something about the economy.
That we have had little inflation the last few years is not at all a surprise with consumer de-leveraging, bank uneasiness, and qualified applicants' reluctance take on loans. Those are the reasons why they started quantitative easing in the first place, to prevent deflation and encourage lending.
People act like the Fed has no power to curb inflation when lending picks up. They do, and it has been done before. Paul Volcker cut inflation from 13.5% to 3.2% from 1981 to 1983 by raising the federal funds rate.
They can also sell off assets, increase reserve requirements, and pay interest on bank reserves.
It's not a one-way valve.
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