1. Welcome to SportsJournalists.com, a friendly forum for discussing all things sports and journalism.

    Your voice is missing! You will need to register for a free account to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Access to private conversations with other members.
    • Fewer ads.

    We hope to see you as a part of our community soon!

The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

Page 41 of 462
  1. SFIND

    SFIND Well-Known Member

    Unreal. I wondered if he was the same all the time or just overly defensive in the interview.

    The whole, "Congressmen from poor districts never ask me that, they only ask if we can do more," sounded like a huge whopper to me.
     
    SFIND, Jul 16, 2021
    #481
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    David Einhorn's investor letter. ... talks about why inflation isn't transitory and suggests the Fed won't address it, so tells how he is playing it (inflation swaps and gold). He uses logic, instead of magic beans thinking. Doesn't mean he'll be right, but still an interesting read.

    It's a pretty logical take. They have blown up M2 money supply. You have way too much money chasing too few goods. He suggests that capital is chasing a lot of unprofitable things (he pinpoints ESG investing, which I think is partially to blame, but I think it is more basic than that. ... the effect of the Fed is to send people into speculative manias, and they chase pie in the sky tech, regardless of whether it actually makes any money). That has starved basic materials and companies that actually make tangible things and their suppliers, of capital. So those companies haven't invested, and now that demand is surging (partially on the back of our government paying people to do nothing, partially on the back of the Fed making middle class on up people feeling rich as their home prices and 401ks have gone up in value), they can't meet it. So prices are up and will remain up, because the Fed won't address it. In fact, they are so afraid of popping their bubble that they will find reasons not to (which is what they keep doing).

     
    The Big Ragu, Jul 26, 2021
    #482
  3. 2muchcoffeeman

    2muchcoffeeman Well-Known Member

     
    2muchcoffeeman, Jul 30, 2021
    #483
  4. The Big Ragu

    The Big Ragu Moderator Staff Member

    Even that disingenous hyena knows how dumb that argument is.

    That $24 would impact people who work at McDonald's, Wal-Mart, and jobs like those (jobs nobody stays in for the entirety of their life, FWIW).

    If the teenager behind the counter was earning $24 an hour at McDs, they would need every penny of it. The Big Macs they serve would likely cost $8 instead of $4. The shirt they can get at Wal-Mart for $15 would likely cost $24. Unless of course, those companies just automated instead, or worse shut down stores or scaled back (hitting us economically in the aggregate). ... at which point everyone who is seduced by stuff like that would learn that the real minimum wage is actually 0 no matter how much smart people like him they can set a price floor on something without it having a pecuniary effect.
     
    The Big Ragu, Jul 30, 2021
    #484
  5. Baron Scicluna

    Baron Scicluna Well-Known Member

    I realize this isn't what Reich is talking about, but considering there is so much consternation about a $15 minimum wage, your example kinda shows that a $15 minimum wage should be workable. So let's say the wage was $8/hour in 2009, and instead of the $24/hour discussed now, that we use the median, which is $16/hour. Using the median, the Big Mac would be $6, and the shirt would be $19.50. Would people really be saying to themselves that they were all set to have a Big Mac, but the additional $2 is a dealbreaker?
     
    Baron Scicluna, Jul 30, 2021
    #485
  6. Smallpotatoes

    Smallpotatoes Well-Known Member

    So you're saying that if the minimum wage went up, prices would go up and the ability to support oneself working 40 hours a week will always necessarily be out of reach to the people on the bottom rungs of the ladder?
     
    Smallpotatoes, Jul 30, 2021
    #486
  7. Michael_ Gee

    Michael_ Gee Well-Known Member

    There are multiple studies showing that increases in the minimum wage have a minimal effect on both prices and employment.
     
    Michael_ Gee, Jul 30, 2021
    #487
  8. dixiehack

    dixiehack Well-Known Member

    There are many places in flyover country where people do indeed bounce around between menial jobs for their entire “career.”
     
    dixiehack, Jul 30, 2021
    #488
    SFIND likes this.
  9. qtlaw

    qtlaw Well-Known Member

    This highlights one of my theories, people pay huge $$ for Greenlight to manage their $$ and they pay for -2.5% in 2nd qtr while S&P 500 goes 8.5%. Actively managed funds rarely outperform SP500 in long run, yet people continually pay huge fees for smaller gains.
     
    qtlaw, Jul 30, 2021
    #489
  10. Mr._Graybeard

    Mr._Graybeard Well-Known Member

    Yes. The Bureau of Labor Statistics reports that the percentage of workers earning the federal minimum wage stood at 1.5% in 2020. Neglect has rendered the minimum wage standard meaningless.
     
    Mr._Graybeard, Jul 30, 2021
    #490
  11. Inky_Wretch

    Inky_Wretch Well-Known Member

    Walmart is the in the process of phasing out cashiers. In a short time, every store will be fully scan-and-go or self-check. The lauded Walmart PDO (pickup and delivery option) is currently being hand picked by humans when you place an order. At a nearby SuperCenter, they've taken about 35,000 square feet out of service to build a DC that will be fully staffed by robots.
     
    Inky_Wretch, Jul 30, 2021
    #491
  12. Songbird

    Songbird Well-Known Member

    It is so easy to eat well off the dollar menu. There is no real need for Big Macs anymore.
     
    Songbird, Jul 30, 2021
    #492
Page 41 of 462
Draft saved Draft deleted

Share This Page