Post-Corona Economy

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TheCatt
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Post by TheCatt »

Leisher wrote: Mon Jan 09, 2023 1:34 pm Convince me how that doesn't fuck the entire economy. Being absolutely serious and not hostile.
why would it, honestly?
Leisher wrote: Mon Jan 09, 2023 1:34 pm However, any answer that assumes businesses will not push that additional cost onto consumers is utopian bullshit
Sure, they will. But every time we've raised minimum wage, has anything eventful ever happened? No. Many states are already doing $15/hour minimum wage (Florida is up to $11 already) without significant issues.

CBO has a much better website to explore the impacts than I can say: https://www.cbo.gov/publication/55681

the key takeaway (looking at that ranges, and just understanding how complicated economics is): no one knows. Look how large the potential ranges are. That being said, even the worst case for unemployment rising is ~ 1%.
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Post by Leisher »

I don't trust anything from the CBO. They have a unique way of looking at things that is policy based and seems to be very short term. Not saying they aren't good at what they do, just saying they look at things completely differently than a normal economic person would.
TheCatt wrote: Mon Jan 09, 2023 1:53 pm the key takeaway (looking at that ranges, and just understanding how complicated economics is): no one knows.
I find that to be the most honest and fair answer. Unfortunately, it's the worst one too.

While there are some states seemingly getting away with it, have there been deep dives into those states yet to see how COL, private business, mom & pops, job openings, job deletion, job creation, etc. have all been affected? I really don't think it's fair or wise to say, "See, Florida does it" and assume everything is fine. I think we need a real, unbiased (is such a thing even possible anymore?) study done so the raw data can tell us what has happened after wages went up.

Jumping from $7.25 to $15 nationally would "have to" have a dramatic impact on corporate profits. Not for all, obviously, but definitely for folks like McDs, BK, gas stations, and so on. To keep Wall St happy I would think those major chains would immediately look at cutting jobs, which we see them doing already with automation. So my hesitation doesn't come from any place of maliciousness or a "let them eat cake" mindset, but rather I don't trust corporations. I'm worried doubling minimum wage will cost jobs overall and raise the COL.

Even doing studies on the current states isn't guaranteed to show us exactly what will happen if it goes nationwide, but it gives us a more educated guess than just speculation.
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TheCatt
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Leisher wrote: Mon Jan 09, 2023 3:06 pm Unfortunately, it's the worst one too.
Image
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From where does Denmark buy beef and bread?
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Post by Cakedaddy »

No one at McD's is only making 9/hr any more. Plus, fast food prices are WAY up now because of it. Also, what plays into the price of their bigmac? Low cost rent? Not really beef? Etc. There is obviously a TON of missing info here. Plus, I just don't care how much a bigmac in Denmark costs! Bottom line, wages went way up here, and so did the cost of eating fast food. The cost of labor WILL (must?) be passed on to the customer.
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Post by GORDON »

The government should subsidize the cost of $5 Big Macs by $3 each, so then Big Macs can cost $8 each.
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Post by Leisher »

96% of employed people will look for new jobs in 2023.

That seems crazy high and I'm one of them.
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TheCatt
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Leisher wrote: Sat Jan 14, 2023 4:56 pm 96% of employed people will look for new jobs in 2023.

That seems crazy high and I'm one of them.
Was this survey conducted ON monster.com, a job hunting website? Cuz, there's no way that # is real for all workers.
Source: Monster survey conducted among workers, December 2022
I found this article from 19 years ago: https://www.onrec.com/news/news-archive ... als-in-200
93 percent of Americans plan to look for a new job in the New Year
...
The Monster Meter is an ongoing series of online polls that gauge users’ opinions on a variety of topics relating to careers, the economy and the workplace.
...
The results of this Monster Meter are based on 18,406 votes cast by Monster users from December 8th to December 9th, 2003 on the Monster.com homepage.
93% of Monster users looking for a new job, the hell you say!
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Post by Leisher »

TheCatt wrote: Sat Jan 14, 2023 4:57 pm 93% of Monster users looking for a new job, the hell you say!
Well now it just feels low.
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Post by Leisher »

Amazon is throwing around its big dick in the prescription market.

This is competition. This is capitalism. This is how it's supposed to work. Yay Amazon...on this issue...

Walmart boosting minimum wage to $14/hr.

Walmart taking this step and offering free college makes them a pretty attractive first job employer, or am I crazy?
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Leisher wrote: Wed Jan 25, 2023 12:41 pm Walmart taking this step and offering free college makes them a pretty attractive first job employer, or am I crazy?
Why not both?
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Post by Leisher »

TheCatt wrote: Wed Jan 25, 2023 12:43 pm
Leisher wrote: Wed Jan 25, 2023 12:41 pm Walmart taking this step and offering free college makes them a pretty attractive first job employer, or am I crazy?
Why not both?
All the people in my head seem to think you're onto something.
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Post by GORDON »

Walmart has been doing free generic meds for years now.
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Post by Leisher »

“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Post by Leisher »

“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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TheCatt wrote: Tue Sep 06, 2022 11:36 am the stock is garbage and any holder is a fucking idiot
Bankrupt.
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Post by Leisher »

TheCatt wrote: Sun Apr 23, 2023 10:20 pm
TheCatt wrote: Tue Sep 06, 2022 11:36 am the stock is garbage and any holder is a fucking idiot
Bankrupt.
It used to amaze me how many businesses are poorly run. Not anymore.

Usually comes down to two things:
1. Adapt or die.
2. Corporate cronyism and corruption.
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Post by Leisher »

“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Post by GORDON »

They say inflation was 8% last year, but the cost of housing and food and cars seem to have gone up waaaaay more than that. 8% seems almost like they pulled a number out of their ass because the real number would tank the next election.
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Post by TheCatt »

GORDON wrote: Tue May 02, 2023 11:48 am They say inflation was 8% last year, but the cost of housing and food and cars seem to have gone up waaaaay more than that. 8% seems almost like they pulled a number out of their ass because the real number would tank the next election.
Or... inflation has a set definition (although there are multiple CPI measures), and the number adheres to that formula: https://en.wikipedia.org/wiki/United_St ... rice_Index

An individual's inflation rate will vary based on the basket of good they consume. Like, if you aren't buying a car, you are not impacted by car inflation, etc.
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