In the US there's a "fight for 15" movement happening, where some people are protesting for a $15/hr minimum wage.
In 1964, the minimum wage in the US was $1.25, or 5 quarters:
Today, that $1.25 is worth $15.84. But, you need the same quarters.
$15.84 is the silver value in the quarters you were paid in '64. You don't need a higher wage, what you need is sound money.
Who cares about supply band demand when you can have hope and change? derpderpderp
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Hope! Change! Make America Great! Platitudes!
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Interesting which emotions those platitudes appeal to:
MAGA - Pride, achievement, responsibility
Hope and change - Please mommy take care of me
Platitudes work because they target basic emotions; these emotions motivate human action. Different platitudes mark different polices as different groups of voters hold...very...different motivators.
The hopenchange crowd still yells for minimum wage despite the higher unemployment that actually comes with the policy.
Supply and demand is something that takes responsibility to recognize and react to.
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Only issue with that is that Reagan ran on Make America Great Again and outlined real strategies(same as Trump is doing), and he largely did accomplish them. Clinton inherited a surplus from Bush Sr... Bush Jr inherited a deficit from Clinton and continued on the long bad path. Obama inherited a deficit and doubled it. Now Trump has 20 trillion in debt to deal with(unheard of highest ever).
It is going to take a lot to bring down the debt so we don't have another Great Depression. Of which 10s of millions starved to death or died of malnutrition(just like people do in Africa). At the time of the Great Depression 90%+ of people could live off of their own farming an dland for food. Now only 5% of people can do that. If we have a Great Depression now expect hundreds of millions to starve to death.
Deficits = death. Stop spending money we don't have. State of Illinois just got downgrade to ALMOST JUNK for it's investment status because they are so broke, they are one step above it, like a D- rating. Other states soon to follow. When you can't borrow money is when people have services cut and people start dying.
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Progress!!!! YES WE CAN! Im with HURRRR!! haha
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The 'Fight for $15' is just one more symptom of an oligarchic system. Mocking the victims of that system is counter-productive. At least the folks that are speaking out have woken up to the fact they're being exploited and aren't taking it laying down.
If you think they're 'economically illiterate', then educate them. Your snobbish attitude, in the meantime, defeats your stated solution and is cruel in the bargain. I think you need to adjust your sites to the correct target - the oligarchs.
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You're right, I could definitely communicate in a more diplomatic and effective way. Thanks for pointing that out.
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Thank you. I'm in the US and I know lots of people who are having to decide between groceries and medication. The multi-national corps and their owners are the true criminals in all this mess.
Break up the monsters or starve them. I'm doing my bit to starve them and show folks around me how to do it, too. They're more than happy to learn that trick!
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I just found one of these in a roll of quarters. I was thrilled!
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That's awesome! I haven't found one in about 20 years.
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They're definitely more rare every year!
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Great point. Stack it high while its low my friend
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So true! We haven't had sound money in decades. Hopefully, we will get there again.
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We've seen a few states in the US pass laws saying gold and silver can be used as legal tender, so that's a start!
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Yes, very true! Unfortunately, I do not live in any of those states. Hopefully, the trend will continue spreading.
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I think minimum wage is harmful to an economy because the real minimum wage is zero ... people have no idea about sound money but they will learn ... the hard way
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Why not both? Maybe in the not-so-distant future we'll have a $15 minimum wage and a healthy mainstream adoption of bitcoin.
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I think the minimum wage should be zero. What a minimum wage does is makes it illegal for people to have a job if they can't provide an employer more value than the minimum wage. It's these people with no skills who need a job the most. That first job is a stepping stone to their next and better job.
We grow up in school being taught to think that if the government wasn't setting a minimum wage, we'd be earning 5 cents/hr crawling around in the dirt searching for sustenance. However, it's capital investment and competition between employers that drives up wages, not the government.
If we could legislate prosperity into existence, all we'd have to do is put into place a high minimum wage in the poorest countries in the world. But, it doesn't work like that. The people in Bangladesh are poor because they're inefficient at producing stuff. Their inefficiency doesn't stem from them being lazy or bad workers; it's because of the lack of capital investment. When you invest in machines, you become more productive, goods become more abundant, and prices fall.
Switzerland doesn't have a minimum wage, yet are amongst the highest paid people in the world.
Singapore doesn't have a minimum wage, although they did enact a wage law around 2010, it's not technically a minimum wage. But all the following were true before that law existed. They have some of the highest wages in the world, virtually no poverty, and the highest concentration of millionaires in the world. I'd argue that their success comes from being one of the most economically free countries in the world, meaning they have low taxes, low government spending, and high levels of freedom when it comes to trade, finances, and labor.
The current minimum wage doesn't hurt the economy a lot because only 1-3% of population work for the minimum wage, depending on how it's measured. For example, if you count the waiters and waitresses who make tips, it's closer to 3%. But, in reality, most of those people making tips earn significantly more the minimum wage. With that said, if the minimum wage were doubled, I have no doubt that it would be disastrous for the economy.
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Oof man, we're going to have to strongly disagree here.
edit: I respect your opinion though - not trying to start a debate
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Fair enough, no debate starting.
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