- cross-posted to:
- politicalmemes@lemmy.world
- cross-posted to:
- politicalmemes@lemmy.world
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“It’ll make costs go up! It’ll cause inflation! It’ll cause a wage price spiral!”
NEWS FLASH! minimum wage hasn’t risen for over a decade and yet prices have risen faster than they did when we did raise minimum wage. Almost like, cheap minimum wages allows for more capital consolidation, and that in turn makes it easier for cartels, oligopolies and monopolies to form to enforce larger margins on low elasticity goods.
The average person is willfully ignorant about inflation because they benefit more from networking with people who believe the bullshit.
Capitalism requires a second class of people who are easily exploited and disregarded by the wider majority of workers in its system usually through propaganda. Racism existed before it but it certainly does benefit from making those different lesser so they can be easier exploited and dehumanized when needed.
Aiden, Braiden, Jaiden, Haiden, and Okaiden, the penta-douche.
I went to school with the 90s versions- Tucker, Sean, Brad, Brady, Donny, and Clay. Tucker killed someone in a DUI, Brady took over the car dealership, Donny and Brad washed out in their college football efforts and are real estate agents, Clay is 44 and owns a college-age targeted night club he uses to predate on women. Sean turned out to be a decent guy at least.
Jamie had a chance, well she really did. Instead she dropped out and had a couple of kids. Mark still lives at home cause he’s got no job. Just plays guitar and smokes a lot of pot.
What the hell is going on
Cruellest dream reality
Ah yes, The Roofy Boyz.
Hey, they all suffer from affluenza ok, it’s a totally legit thing that allows them the freedom to roofy! /s because of poes law
Poe’s Law: originating from the term "Poorly Constrained* (cf: Poe Ly) which is a technical term used in physics, engineering, and mathematics for a system where there are more variables than available data points, making a single definitive solution impossible.
Yes, but also this https://en.wikipedia.org/wiki/Poe's_law?wprov=sfla1
Both of these things are new to me
As I like to say, every day is a school day!
Was using the real definition to generate my definition.
To clarify: Mine’s fake in keeping with the concept of Poe’s Law, self referentially.
And my definition is also real
Brayden, Kayden, Jayden, Hayden, and Blake
You need a Sean in there
In Spain they would all be called Cayetano.
Australia has one of if not the highest minimum wage.
This economics YouTuber ranks it as one of the best economies, based on his own slightly subjective ranking that factors in both overall strength and egalitarianism.
Which one is Preston?
Preston Popcollar is the one who took the photo.
Got that first up against the wall when the revolution comes typa rizz
Share and Enjoy —> Go Stick Your Head in a Pig
And my dad says it bad for employers not too pay a living wage.
Kinda related: At some point I realized inflation is actually kinda good when you have no assets and large debt, because it effectively shrinks your debt. The problem is, I only thought about it well after paying off my debts and gaining some assets, so now I feel like the guys in the pic if I talk about it.
only if the interest rate you pay on the debt is lower than inflation. let’s say, if inflation is 3% and your interest rate is 5%, you still make additional 2% real debt every year. if however inflation is 5% and your interest rate is only 3% then you win.
… and just like that, you figured out what the FED is for, and that our world economy is based on debt, with inflation used to defraud the hordes of workers from adequate wages.
Once the inflationary economy crashes, banks buy up those previously inflated assets at rock-bottom prices, and the process begins anew.
I’ll show them, I’ll avoid those cyclical crashes by switching to Bitcoin!
Reason for The FED founding… let’s stop those bubbles!
Immediately after FED founding… POP oh no! Well, let’s keep it anyway. It makes JP Morgan so happy, look at him giggling!!
Inflation is either expected or unexpected by the market.
- If it’s expected, then it was already priced into your rate. The “tax incidence” of typical inflation falls on consumers, not lenders.
- If it’s not expected, then the economy is failing and that’s not good for anyone.
Only if you have fixed interest rate which a lot of people don’t have.
I don’t care about the minimum. I care about the maximum earnings allowed annually.
I love the “we can fix the system built to fuck us up by only [writes a bible about how capitalism is full of loopholes and is basically made by and for billionaires]”. No. There is no way in reforming this corpse of a system.
That’s ok. The employees can show them what happens when they don’t pay enough for them to live ✨
Why are they all playing with there junk?
Making sure it doesn’t fall out of their shorts.
Buncha numpties
Survival Of The Fittest, Bro! Let them fight for scarce resources. /s
