Yeah, one of the most regulated industries in America almost went down the drain because of lazy fairy caplism, didn't it. Hedge funds are unregulated and they came out better. I wonder why that was.
Hey Democrats, you want wage increases? How about applying the principles of free market economics.
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Yeah, one of the most regulated industries in America almost went down the drain because of lazy fairy caplism, didn't it. Hedge funds are unregulated and they came out better. I wonder why that was.
Germany kicked everyone's butt in Europe economically the last ten years and many analysts site Germany's labor reform. Germany was the sick man of Europe before they implemented the reforms. What they did, essentially, was cut welfare type unemployment benefits. This forced people back into the workforce at wages they didn't like and it brought down the overall wage structure. The result was lower unemployment, an increase in output at a lower cost and success in European and world markets.
http://voxeu.org/article/german-labour-reforms-unpopular-success
I bring this up because of piezo's previous post promising a better economy by increasing the wage structure. It don't work like that.
http://voxeu.org/article/german-labour-reforms-unpopular-success
I bring this up because of piezo's previous post promising a better economy by increasing the wage structure. It don't work like that.
Bullshit. That is a poll from 2010.
Show me evidence that he called the Great Recession before it happened.
They also voted for Krugman on that list. He in no way forecasted the Great Recession.
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This is an article written by the former McDonald's President and CEO.
http://www.forbes.com/sites/realspin/2016/04/25/mcdonalds-minimum-wage-reality/#2d3175e258bb
The Ugly Truth About A $15 Minimum Wage
I can assure you that a $15 minimum wage won’t spell the end of the brand. However it will mean wiping out thousands of entry-level opportunities for people without many other options.
In truth, nearly 90% of McDonald’s locations are independently-owned by franchisees who aren’t making “millions” in profit. Rather, they keep roughly six cents of each sales dollar after paying for food, staff costs, rent and other expenses.
Let’s do the math: A typical franchisee sells about $2.6 million worth of burgers, fries, shakes and Happy Meals each year, leaving them with $156,000 in profit. If that franchisee has 15 part-time employees on staff earning minimum wage, a $15 hourly pay requirement eats up three-quarters of their profitability. (In reality, the costs will be much higher, as the company will have to fund raises further up the pay scale.) For some locations, a $15 minimum wage wipes out their entire profit.
http://www.forbes.com/sites/realspin/2016/04/25/mcdonalds-minimum-wage-reality/#2d3175e258bb
The Ugly Truth About A $15 Minimum Wage
I can assure you that a $15 minimum wage won’t spell the end of the brand. However it will mean wiping out thousands of entry-level opportunities for people without many other options.
In truth, nearly 90% of McDonald’s locations are independently-owned by franchisees who aren’t making “millions” in profit. Rather, they keep roughly six cents of each sales dollar after paying for food, staff costs, rent and other expenses.
Let’s do the math: A typical franchisee sells about $2.6 million worth of burgers, fries, shakes and Happy Meals each year, leaving them with $156,000 in profit. If that franchisee has 15 part-time employees on staff earning minimum wage, a $15 hourly pay requirement eats up three-quarters of their profitability. (In reality, the costs will be much higher, as the company will have to fund raises further up the pay scale.) For some locations, a $15 minimum wage wipes out their entire profit.
labor cost may only be a third in a good business model.... but when you jack up the costs of that third... it can hit the bottom line dramatically.
Guys who work for others or the govt... just don't get this in their gut. Business owners have a visceral reaction when confronted with such leftist ignorance. Will business survive yes, some will? We some businesses and jobs be destroyed.. yes. Many businesses which were surviving with thin margins may have to close or they may have to down size their lifestyles. some which were already modest. Or they may fire people and make others work much harder to keep their jobs.
Guys who work for others or the govt... just don't get this in their gut. Business owners have a visceral reaction when confronted with such leftist ignorance. Will business survive yes, some will? We some businesses and jobs be destroyed.. yes. Many businesses which were surviving with thin margins may have to close or they may have to down size their lifestyles. some which were already modest. Or they may fire people and make others work much harder to keep their jobs.
Lol, you are wetodddid. Yes, the survey about who saw it coming was taken after it occurred.
http://www.nytimes.com/2005/08/29/opinion/greenspan-and-the-bubble.html
Here's an article outlining just how out of touch the inflation stats are. They are at best statistics being used and manipulated to deceive or maybe just outright lies.
http://davidstockmanscontracorner.com/lies-lies-and-omg-more-lies/
Two articles caught my attention today.
First, in a bloomberg article, that the US has just put China, Japan, and Germany on a foreign exchange watchlist. This is a precursor to accusing them of unfair trading practices for manipulating their currencies.
Here's the deal. The US went off the gold standard in 1971 specifically because they wanted to be able to print money at will and thereby manipulate our currency. How is it that we accuse other countries of unfair trading practices for manipulating their currencies?
Secondly, in a Financial Times article, I learned that ICE, the CME, and the Options Clearing House are now going to be allowed to 'act as a bank' and park their overnight money at the central bank. So while the central bank is printing money for the specific purpose of levitating markets that benefit these financial firms, the firms, in effect, want an exemption from the policies, zirp, that are propping up their markets. They will get a higher rate of interest on their deposits at the fed reserve than they could get outside of the federal reserve. Isn't that special.
It reminds me of the unions that wanted a higher min wage, then want an exemption. The unions that wanted o'crapcare, then requested an exemption from it, democrat big wigs like Soros, who agitate for higher taxes, and then effectively get an exemption and pay none or defer paying them almost forever, the people who want gun control, and yet exempt themselves with armed guards all around them, the people like obama and ryan who want open boarders and no wall, and yet exempt themselves with large guarded fences around their own homes.
This is sick.
First, in a bloomberg article, that the US has just put China, Japan, and Germany on a foreign exchange watchlist. This is a precursor to accusing them of unfair trading practices for manipulating their currencies.
Here's the deal. The US went off the gold standard in 1971 specifically because they wanted to be able to print money at will and thereby manipulate our currency. How is it that we accuse other countries of unfair trading practices for manipulating their currencies?
Secondly, in a Financial Times article, I learned that ICE, the CME, and the Options Clearing House are now going to be allowed to 'act as a bank' and park their overnight money at the central bank. So while the central bank is printing money for the specific purpose of levitating markets that benefit these financial firms, the firms, in effect, want an exemption from the policies, zirp, that are propping up their markets. They will get a higher rate of interest on their deposits at the fed reserve than they could get outside of the federal reserve. Isn't that special.
It reminds me of the unions that wanted a higher min wage, then want an exemption. The unions that wanted o'crapcare, then requested an exemption from it, democrat big wigs like Soros, who agitate for higher taxes, and then effectively get an exemption and pay none or defer paying them almost forever, the people who want gun control, and yet exempt themselves with armed guards all around them, the people like obama and ryan who want open boarders and no wall, and yet exempt themselves with large guarded fences around their own homes.
This is sick.
I my be wetodddid but you are wetodddid2.
Pretty ironic and funny that Krugman in the aritcle you posted is complaining about the very same thing that he stated Greenspan should do.
http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip.html
"The basic point is that the recession of 2001 wasn't a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance. To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."