The Senate just dropped a massive Russia bombshell (and most people missed it)

HolierMonkey586 · 2020-08-19T19:57:46+00:00

Unless the Senate is blue. Vote

HolierMonkey586 · 2020-08-18T14:35:55+00:00

Purchasing a house is great for the economy and is not something that I mentioned. A bank is required to keep 10% in reserves. If the top 400 billionaires have only 5% (145 billion dollars) of their money in the bank then. 14.5 billion dollars is sitting in a bank account not being reinvested or doing anything. 14.5 billion dollars could employ 290k people at $24 an hour. That would be taxed at 30% which could be used to create construction jobs, which then would be taxed again and so on and so fourth. That is using only 400 billionaires.

HolierMonkey586 · 2020-08-18T12:59:46+00:00

Money in the economy needs to constantly be circulated. Jeff Bezos is so rich that he can't spend his money fast enough and it gets tied up in Amazon stock/bank accounts. If that money got circulated to people that actually need it (through taxes), it would be pumped directly back into the economy because your average Joe would spend it.

HolierMonkey586 · 2020-08-18T12:38:26+00:00

2 shot headshots with the wingman?

HolierMonkey586 · 2020-08-17T19:56:29+00:00

I just googled richest person ever. Looking at other articles on the page they all seem to agree.

https://www.celebritynetworth.com/articles/billionaire-news/25-richest-people-ever-lived-inflation-adjusted-2017/

HolierMonkey586 · 2020-08-17T19:35:38+00:00

When you include historical figures Mansa is listed at 3rd and John D Rockefeller at 4th. At least from this article.

https://www.titlemax.com/discovery-center/money-finance/wealthiest-historical-figures-in-todays-dollars/#:~:text=Who%20Was%20the%20Richest%20Person%20in%20America's%20History%3F,of%20the%20United%20States%20GDP.

HolierMonkey586 · 2020-08-17T19:15:48+00:00

The sad part is we aren't reaching the peak of capitalism. We are just reaching another peak. John D Rockefeller is still l the richest person to have existed inflation adjusted. Capitalism is a viscious cycle of rich people taking so much money out of the economy that it collapses and we have to rebuild.

HolierMonkey586 · 2020-08-15T19:23:38+00:00

What happens to the $200 extra dollars per week the employee is receiving. Does it disappear or does it get spent on local businesses? This is the part that most people seem to leave out. They seem to forget that if the people purchasing your products have more money they will be spending more at your business. They don't hoard wealth like the rich. If you have more business you need more employees to handle that business.

HolierMonkey586 · 2020-08-15T18:26:32+00:00

Numerous states raised their minimum wages higher than the federal level during the 1997-2007 period the federal minimum wage remained stuck at $5.15. Research by the Fiscal Policy Institute and others showed that states that raised their minimum wages above the federal level experienced better employment and small business trends than states that did not.

https://www.businessforafairminimumwage.org/news/00135/research-shows-minimum-wage-increases-do-not-cause-job-loss

I'll keep providing sources as you keep asking questions. You have yet to provide one source.

HolierMonkey586 · 2020-08-15T18:15:33+00:00

According to a recent piece of economic research that examined the effect of prices on minimum wage increases in various states in the U.S. from 1978 through 2015, they found that a 10% increase in minimum wage only accounts for around a 0.36% increase in prices.

https://www.investopedia.com/ask/answers/052815/does-raising-minimum-wage-increase-inflation.asp

The evidence shows that minimum wage does not increase cost of living. In AZ minimum wage has gone from >$6 an hour in 2002 to $11 in 2019 and now $12 his year. Between 2002 and 2019 inflation has risen by am average of 2.03% in AZ while the national average is 2.09%

https://www.in2013dollars.com/Phoenix-Arizona/price-inflation

HolierMonkey586 · 2020-08-15T18:11:11+00:00

In AZ the cost of living increased by am average of 2.03% while the average state increased by 2.09%.

https://www.in2013dollars.com/Phoenix-Arizona/price-inflation

During this time AZ minimum wage went from >$6 an hour to $11 an hour and is now currently at $12. Inflation and cost of living have not been an issue here. Finding a job has not been an issue either. Phoenix is now in the top 10 cities for a minimum wage worker to live.

You should really dive into UBI some more. Here is a good link where studies have taken place. It actually doesn't reduce employment and heads to happier and healthier citizens.

https://www.vox.com/future-perfect/2020/2/19/21112570/universal-basic-income-ubi-map

HolierMonkey586 · 2020-08-15T16:41:26+00:00

According to actual data from places that have increased minimum wage none of this is true. There will be a point when things start to get automated but that will happen regardless if minimum wage and needs to be addressed separately.

HolierMonkey586 · 2020-08-15T15:56:30+00:00

I can tell you minimum wage has pretty much doubled in AZ since I entered the workforce in 2008, but the cost of living has not doubled. Not even close.

HolierMonkey586 · 2020-08-15T15:55:05+00:00

Basically we don't know yet. Off the top of my head (I don't rember the exact numbers) a depression is defined as multiple quarters of economic decline. Not enough time has passed to determine if this is a depression. Unfortunately people that are refusing to take the government "handouts" are actually hurting the economy more then it otherwise would be.

I could write an opinion piece on what is happening and how I see it playing out but that is all I or anyone would be able to do. You also wouldn't want to listen to me. You would want to listen to people that are highly respected in the field when it comes to current economic policy.

HolierMonkey586 · 2020-08-15T15:29:54+00:00

Your inputs to production go up to provide a good or service so to offset that the retail price of the good or service goes up. So long term the price of housing, goods, etc. would inflate to the point where the $20 an hour or whatever the minimum wage is, would again not be a living wage.

This is my one problem with your post. This has been proven false several times and one of the main reasons is because the industries that higher minimum wage jobs actually benefit from workers having more money. When most of the country gets a raise the money doesn't just sit in their pockets it gets spent. If you increase minimum wage everyone that just got a raise now has more money to be spent. One worker getting a 2 dollar raise at McDonald's needs to only sell 5 more meals per hour to offset the new cost of labor. With so much of the country having more money this is not unrealistic to assume sales for not just McDonald's but everything to increase.

Aside from that I do agree automation is going to be an issue for the world. What are your thoughts on UBI?

HolierMonkey586 · 2020-08-15T15:09:47+00:00

You're welcome. There are online courses you can take on economics. I personally have only taken macro, micro, and comparative economics. Almost everything in the world is driven by money so understanding how it all works can be very helpful. For example understanding that social security is a safety net that was created after the great depression to stop another great depression from happening is useful info. People that vote against it don't understand that it is one of the reasons we had a great recession and not a great depression in 2008.

HolierMonkey586 · 2020-08-15T14:39:26+00:00

Your teacher unfortunately taught you one of the myths about raising minimum wages. The cost of living might slightly increase but not at the same rate that wages would increase. The truth is that everyone makes more money when you your average citizen makes more money. That computer you wanted. That large steak you wanted. That trip you wanted to go on. That small home upgrade you wanted. All of these examples are now things you can afford. Because you can now afford these things all of the businesses behind the products or services are now making more money.

Right now CEOs are making so much money that they can spend a million a day and still increase there wealth. They can't spend what they are making so the money being taken out of the economy and going into the CEOs pockets is not being put back into the economy. Money out of the economy (your income) needs to equal money into the economy (what you buy).

HolierMonkey586 · 2020-08-15T13:59:48+00:00

I just don't see why you don't want minimum wage raised. Cost of living is determined by a lot of different factors and will constantly raise. If we steadily increased minimum wage it would be roughly $15 an hour right now. That's across the US. In certain areas it should be $20+. Just because all your doing is bagging groceries doesn't mean you shouldn't be making that much. At one point in time they were making $1 for the same job. Increasing minimum wage is the start. We also need wages raised in almost every profession except CEO's.

HolierMonkey586 · 2020-08-15T13:46:48+00:00

Are you sure you don't just hate paying for things so you're mad that you can't live off the land?

HolierMonkey586 · 2020-08-15T13:26:20+00:00

People that have never taken an economic class should not post on the economy.

HolierMonkey586 · 2020-08-15T00:34:38+00:00

They aren't doing nothing about it though or at least they weren't. They still stopped large gatherings like concerts and they encouraged elderly to stay home. On top of that they have citizens that actually followed that guidance for the most part.

HolierMonkey586 · 2020-08-14T18:15:26+00:00

Yes they absolutely do, but understanding why can help you change their mind on a topic. Attacking them just solidifies their opinion.

HolierMonkey586 · 2020-08-14T16:35:51+00:00

Just playing devil's advocate, but I am assuming the guy is referring to people who abuse the medical system and will call 911 for minor things and take an ambulance with no plans on paying. Bernie is referring to the people that should be using an ambulance but don't because they have just enough equity in something that taking one would bankrupt them.

HolierMonkey586 · 2020-08-14T12:35:33+00:00

Ayton getting suspended kept anyone from seeing a healthy Suns roster. That and only having 2 nationally televised games including yesterdays lol

HolierMonkey586 · 2020-08-14T12:27:25+00:00

We had less then 10 games with a complete roster as well so it will be interesting to see. I would say Ayton's offense is our biggest area for growth. If he and the team can grow confidence with Ayton getting the ball at the rim next season will be fun. He also needs to learn to protect the ball a little better and to not bring it back down.

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