Fri 26 Feb 2016
Posted by RichSlick under The Fed
Comments Off on Robby Soaves versus Talia Jane – Both are wrong or right?
I came across Robby Soaves “
You see what Robby and Talia both fail to understand is what “young workers are worth” can’t be known until you evaluate the financial ecosystem they live in day to day. Talia believes she’s worth $15/hr while Robby thinks she’s worth $8.25/hr or maybe even less so what’s the real truth?
Let’s get down to the brass tacks and evaluate this financial ecosystem. What is Talia worth as a minimum wage employee?
If we use 1980 as a starting point (
What is Talia worth as a minimum wage employee? The truth lies somewhere between $8.98/hr and $10.12/hr however there is one last adjustment that needs to be made and that is the calculation used in making the inflation rate calculations (yeah iterative pun intended). The Federal Reserve and the US Treasury has a vested interested in debasing the currency much like every empire has done so over the past 2000 years so it can continue to spend money that doesn’t exist.
I’m not sure what the Fed fudge factor would be but it’s not a stretch of the imagination to think that minimum wage should probably lie somewhere between $10/hr to $15/hr as it is what most people expect it to be. After all isn’t inflation an expectation of reality?
After spending some time looking at the minimum wage rates, over the last 30 years it would behoove both Republicans and Democrats alike to simply tie the federal minimum wage to inflation rates and leave it at that because in the end not raising the wage rates regularly causes hate, angst, rage and eventual civil disobedience and makes for miserable living. How is misery and resentment affecting your business lately?
Is it any wonder that the two leading candidates for President this year are very anti-establishment? One candidate offers all sorts of goodies and freebies with a higher minimum wage because people can’t survive on their wages while the other hopes to make america great again by building walls, kicking out H1-B visa holders and everyone else, and in essence lowering the population volume which will naturally drive up wages. It all makes perfect sense to me that those polar opposites are actually different sides of the same coin.