Jobst

On Tue, 5 Sep 2017 16:18:30 -0700 (PDT), Doug Landau
wrote:

On Tuesday, September 5, 2017 at 6:59:41 AM UTC-7, wrote:
On Tuesday, September 5, 2017 at 5:44:07 AM UTC-7, AMuzi wrote:
On 9/4/2017 9:58 PM, John B. wrote:
On Mon, 4 Sep 2017 14:39:09 -0700 (PDT), jbeattie
wrote:

On Monday, September 4, 2017 at 12:47:15 PM UTC-7, wrote:
On Monday, September 4, 2017 at 11:45:56 AM UTC-7, jbeattie wrote:
On Monday, September 4, 2017 at 9:52:22 AM UTC-7, Sir Ridesalot wrote:
On Monday, September 4, 2017 at 10:24:47 AM UTC-4, jbeattie wrote:
Snipped
Well, you can pass the cost of wages along in price, assuming price elasticity. Smokers don't have a similar option for increasing revenues to cover the cost of cigarettes -- so the markets do operate differently. Paying a higher minimum wage also stimulates the economy because workers have more buying power. It's trickle-up instead of trickle-down. My son earned sh** in a bike shop and then took all his earnings and bought a bike from the shop. Good discount, but still a money maker for the shop.

-- Jay Beattie.

But how long before the price increases due to the mimimum wage increase negates the minimum wage increase? It seems to negate it pretty quickly here.

Depends on the market and the amount increase in minimum wage, and I'm not saying there should be an astronomical minimum wage. I'm just saying that the market effect of raising minimum wage is complex and not like the effect of spiking the price of cigarettes. It is not some form of economic punishment to curb unhealthy behavior.

Here's the way higher wages work: you don't bring in workers from all over the world. That means that production is limited by the number of workers who can then demand a higher wage.

The way it presently is these so-called minimum wage jobs are those that can and should be largely automated and will be if the minimum wages rise. This then leaves more workers than jobs and the person willing to accept the lowest wage wins out. My last paying position I was making a quarter of a million a year. The same position now is paying 125-175. Do you think they will pay an American 175 or an Indian 125?

Migrant workers may or may not depress wages. They're offering $15-16/hr to cut grapes in Sonoma, and they're not getting home-grown workers. Anglos refuse to do certain things, e.g. hard work.

A perfect market should fix all this, but look at the low unemployment and the lack of real wage growth. Something is not working, and I don't know what it is. In any normal market, wages would be rising, inflation would be rising, interest rates would be rising. Bonds would be going up; the market would be dipping a little as people moved into safer and now decent yield investments. None of that is happening.

-- Jay Beattie.

I suspect that one of the larger problems is the democratic political
system where a politician says "Vote for me" and the population says
"Why?"

Sometimes the population has had enough and resorts to
beating Dear Leader to death hanging from his heels.

https://rasica.files.wordpress.com/2...pg?w=538&h=373

This indeed happened. And who did it? The cowards that hid in the shadows for the entire war. They called themselves the Antifa for "Anti-Facists". While the Catholics spent the entire war smuggling Jews and other enemies of the Germans to safety, the Antifa did nothing but kill Mussolini after he had been disarmed and put safely in a jail and they wouldn't put themselves in danger by dragging a defenseless man out and murdering him instead of waiting for the trial.

We are seeing the same thing occurring in the USA - Is it the so-called "white nationalists" whom the media are painting as "the KKK or Neo-NAZIs" who are hiding in the shadows? No, it is the Antifa showing up for "protests" wearing hard hats and anti-tear gas goggles. Carrying weapons and with pillow cases pulled over their heads died black so they can claim that they really aren't the sons of the real KKK.

The Antifa ARE a terrorist organization and every one of them should be arrested and stand trial before a jury of their peers so that they can see what real people think of them.

The news reports of the conflict in people's park in berkely were hilarious. "The clash has been mostly peaceful so far; however, some bagels and a hard-boiled egg were thrown"

I wonder whether this will become a "new age" verb? "To Bagel", I
bagled him/her." Or would that be "baggeled"?

--
Cheers,

John B.