Someone asked for "sour cream on the side".....
...yeah. 15 bucks an hour sounds about right.
...yeah. 15 bucks an hour sounds about right.
$15/hr minimum wage
- Thread starter EdReed4Prez
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Under Friedman's theories, interest rates and inflation should be skyrocketing in the US today. Even with considerable
Fed stimulus, inflation is rather low.
Friedman needs to correct for globalization, which wasn't a factor back in the late 70's.
Fed stimulus, inflation is rather low.
Friedman needs to correct for globalization, which wasn't a factor back in the late 70's.
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I shop for groceries don't tell inflation is low. I do not know how they calculate it but groceries have gone way up around here. Milk has gone up almost a dollar in one year. From $1.99 $2.99 that is a pretty hefty jump in a year.
Are you for real?
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Sadly, he is.
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Lmao thats pure gold right there. Because, ya know, having a splotch of sour cream on the side of the taco shell tastes better than when its inside the taco. What else could you possibly have meant?
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You are describing what used to be known as "demand-pull" inflation, where the increased wages brought about by legislation drive up wages for other trades and employees, and the result is an increase in cost - a.k.a., inflation.
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Incorrect.
First, increasing production will offset inflation due to increased money supply, simply because the additional money is needed simply to pay for the production entering the market to meet the increased demand. Think of it this way: pouring water into a bucket will not cause the bucket to overflow if the bucket gets bigger at the same rate as the additional water being poured into the bucket.
Obama's QE has been offset in party by increased production, following the substantial downturn from 2008-2009, including unemployment in double digits.
Second, the Federal government has changed the way the CPI is calculated, to offset obligations tied to CPI, such as Federal employee retirement and social security. They do this by something called "chaining," which pre-supposes that if a product increases in price, it will be replaced by a less expensive alternative. For example, if chicken increases, and pork is less expensive, the CPI calculation will substitute pork for chicken when determining CPI.
If the CPI were calculated today the same way it was calculated in 1982, the rate would be much higher. (Check out the chart, below.)
The chained CPI has grown more slowly than the traditional CPI by an average of about 0.25 percentage points over the past decade. ... And by 2033, Social Security payments are projected to be 3 percent lower than they would be using the current measure of inflation.
http://money.usnews.com/money/retir...-chained-cpi-affects-social-security-payments
Further, the Fed consistently understates the CPI increase to reduce its obligations tied to inflation. Forbes noted:
Another example where the BLS doesn’t meet other agency’s inflation measurements is the U.S. Department of Agriculture. According to the BLS the average price of beef and veal increased 20 percent over the past five years. However, according to the USDA, beef prices have increased 26 percent over the past five years. I asked a statistician at the BLS about this discrepancy and he said “I would expect those numbers to be a little closer together.” When even the federal government gets different numbers on the same products, how could this possibly be an accurate measurement of inflation?
http://www.forbes.com/sites/periann...l-rate-of-inflation-dont-bother-with-the-cpi/
One site has published charts comparing inflation as advertised by the Fed, compared to what it would be if calculated the same way it was in 1980. The results are as expected - the published CPI is vastly lower than what it would be if simply calculated the same way over the past 34 years:
http://www.shadowstats.com/alternate_data/inflation-charts
So, we are told that the CPI is a mere 1.8%, but that is based on statistical games. The true inflation rate is now about 10%.
Ya know, it really pisses me off that those proponents of raising the minimum wage only do so for the fast food/service industries. What about those of us in other fields who make 8-9 bucks an hour helping to educate children? Or day care workers? What about CNAs and nursing home workers? Why is fast food the focus?
do AP need to come in here with a switch?
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I'm facing deflation in my personal life. I was able to refinance my home in recent years dropping the interest rate from 5.25% to below
3% which cut my payment in half from 2K to 1K. Started grocery shopping at Aldi's a couple years ago, which dropped my grocery bill.
Can't get everything there, but basically buy things when they are on sale elsewhere. I buy a lot of chicken and its been the same price
for about 20 years. Bought a Sebring convertible this year with 32K miles on it for 5K. I don't shop much in stores, when I want something
I do the research on-line, checkout reviews, look for best price and then generally buy it with shipping free and no tax, sent directly to
my home. Gas over this past weekend, even went down to 2.97 per gallon.
My favorite thing to do is play golf and I use golfnow to get rates half of which I use to pay when I just showed up at the course.
Sure milk has gone up. I buy 2 gallons a month. So that's an increase of 24 dollars a year. I guess I more than make that up from my home refinance.
3% which cut my payment in half from 2K to 1K. Started grocery shopping at Aldi's a couple years ago, which dropped my grocery bill.
Can't get everything there, but basically buy things when they are on sale elsewhere. I buy a lot of chicken and its been the same price
for about 20 years. Bought a Sebring convertible this year with 32K miles on it for 5K. I don't shop much in stores, when I want something
I do the research on-line, checkout reviews, look for best price and then generally buy it with shipping free and no tax, sent directly to
my home. Gas over this past weekend, even went down to 2.97 per gallon.
My favorite thing to do is play golf and I use golfnow to get rates half of which I use to pay when I just showed up at the course.
Sure milk has gone up. I buy 2 gallons a month. So that's an increase of 24 dollars a year. I guess I more than make that up from my home refinance.
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I don't know what world you live in but it is full of ****. Chicken is up from .50 CPP to over 113 CPP the last 20 years. Oil was $1.75 when Bush left office and is now $3. Sorry but golf rates aren't included in inflation prices. Damn you are dense and obviously have no idea about economics. Also wages are down so even if prices stayed the same it would hurt middle to lower income families.
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In any decent Economics class, you learn that wages are part of a balanced system. The labor force are consumers of the corporations' products and services, and corporations are consumers of the labor force. If the cost of the labor force is suddenly and artificially increased (by minimum wage laws), corporations have no recourse but to raise their prices accordingly, and/or reduce their participation in the labor market.
you understand that Aldi's packaged food is cheap because it's ... cheap, correct? And contains **** you really shouldn't put a lot of in your body. you're saving a dime now, but will be paying a quarter later. (food vs deteriorating health)
http://marionmom.blogspot.com/2011/04/aldis-food-beware-of-high-fructose-corn.html
a Sebring convertible? that's something to be ashamed of.
http://www.cargurus.com/Cars/Discussion-d180_ds539160
in short, it is a terrible car. you WILL experience lots of issues with it. my ex-gf bought a used one out of necessity. complete piece of ****. sold it 2 months later.
How much a year do you spend on douche?
Isn't this the same guy that is so rich that he only works 2 days a week and has enough leisure time to be writing a worthless book?
Times change...
not nearly enough
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Vinegar and water is not that expensive.
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Uhhh ... 21Steelers, I don't know how to break this to you, but the CPI is not calculated based on what 21Steelers spends.
I know, I know, it should be, right?? I mean, you earn six figures but cannot afford internet and have to use your employer's internet service, so the cost of internet has declined to free, right???
so back in 1994, 21 was paying $8 per bag of frozen chicken tenderloins?
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