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Started By
Message
re: Bank of America contributes to increased inflation by increasing min wage to $24 an hour
Posted on 9/13/24 at 4:25 pm to conservativewifeymom
Posted on 9/13/24 at 4:25 pm to conservativewifeymom
Fear not. If a bank location had 20 employees, they will now have 10-15.
They will close branches and convert others to drive-up only.
There's zero chance a company will just decide to increase an input without balancing the books.
Sooo, also expect things that were free to go away.
They will close branches and convert others to drive-up only.
There's zero chance a company will just decide to increase an input without balancing the books.
Sooo, also expect things that were free to go away.
1
Posted on 9/13/24 at 4:25 pm to conservativewifeymom
quote:
I am so incredibly honored that you're spending time cutting and pasting my posts to support your nonsense.
Freedom isn't nonsense, comrade.
quote:
Don't you have a honey-do list
Did it during the hurricane break
quote:
or dinner to make for the family?
I do that almost every night.
I will do it tonight, but not at 430, Mrs. Seinfeld.
Posted on 9/13/24 at 4:26 pm to conservativewifeymom
quote:
and overpaying incompetent, under-educated employees whose customer service skills are non-existent, and ability to balance an account equally bad.
There is a cause and effect paradox here about the quality of the job candidates reflecting the quality of the wages offered. Logically there will be some performance turnover over time. Unless they are also DEI champions, and then well good luck with all that.
Posted on 9/13/24 at 4:27 pm to concrete_tiger
Thank you for making sense.
Posted on 9/13/24 at 4:30 pm to conservativewifeymom
Are you still making a wage directly causing inflation for the rest of us?
Posted on 9/13/24 at 4:32 pm to conservativewifeymom
quote:Recent bank restructuring efforts have entailed massive decreases in FTEs as a function of automation and expanded online banking capabilities that reduce the need for bodies
Companies must charge more for their goods and services to maintain the same level of profitability to make up for the increase in cost.
The industry has also seen massive voluntary turnover / non-interest among Gen Z-aged people who go insane from the boredom of the role and not being able to be remote
As such, banks need less FTEs, but they increasingly have to pay them more. Enter wage increases
In this specific scenario, the above quote is actually completely false. The wage increases are applied to a substantially lower employee base. The decline to the latter has actually been outpacing the former (source: my career), so banks are more profitable
As a result there’s no cost increases and no need to pass on such increases to consumers (inflation) as they don’t fricking exist
Begone thot
This post was edited on 9/13/24 at 4:37 pm
Posted on 9/13/24 at 4:34 pm to RemouladeSawce
quote:
In this specific scenario, the above quote is actually completely false.
You're about to be literally can't even'd to death.
Posted on 9/13/24 at 4:34 pm to RemouladeSawce
And your source is.......ChatGPT?!?!
My source is classical economics. Basic supply and demand and cost theory.
My source is classical economics. Basic supply and demand and cost theory.
Posted on 9/13/24 at 4:35 pm to conservativewifeymom
quote:My source is reality and my career
And your source is.......ChatGPT?!?! My source is classical economics. Basic supply and demand and cost theory.
Get back in the kitchen
This post was edited on 9/13/24 at 4:37 pm
Posted on 9/13/24 at 4:35 pm to RemouladeSawce
quote:
Get back in the kitchen
No. She’s out front taking the orders.
Posted on 9/13/24 at 4:36 pm to RemouladeSawce
Your wife didn't hear ya!
Posted on 9/13/24 at 4:37 pm to conservativewifeymom
quote:
Wage increases cause inflation because the cost of producing goods and services goes up as companies pay their employees more. Companies must charge more for their goods and services to maintain the same level of profitability to make up for the increase in cost.
You keep using plural “companies” to describe one company giving some of its employees raises. So what you’re saying is you are 100% opposed to any employee getting any raise or bonus ever? Because inflation? And there’s no way a company could possibly take any of their spending or cost of doing business into account before giving a raise or bonus? They need you to explain economics to them, right?
Posted on 9/13/24 at 4:38 pm to conservativewifeymom
quote:
My source is classical economics. Basic supply and demand and cost theory.
This is amazing
Posted on 9/13/24 at 4:38 pm to lsuguy84
I could unsubscribe from Netflix with this level of entertainment.
Posted on 9/13/24 at 4:39 pm to 4cubbies
quote:
You keep using plural “companies” to describe one company giving some of its employees raises. So what you’re saying is you are 100% opposed to any employee getting any raise or bonus ever? Because inflation? And there’s no way a company could possibly take any of their spending or cost of doing business into account before giving a raise or bonus? They need you to explain economics to them, right?
She was out sick when they went over “profits” in Econ 101.
Posted on 9/13/24 at 4:39 pm to conservativewifeymom
quote:
My source is classical economics. Basic supply and demand and cost theory.
Why don’t you think supply and demand dictated that raises were warranted? Employees are also a commodity.
Posted on 9/13/24 at 4:41 pm to SlowFlowPro
Having more than one or two people agree with me here makes me extremely uncomfortable.
Posted on 9/13/24 at 4:47 pm to conservativewifeymom
quote:frick it, P x Q
My source is classical economics. Basic supply and demand and cost theory.
If P (wages) increases but Q (employees) decreases by the same proportion the product (costs) is neutral
In front-line banking specifically over the last 2-3 years, Q declines have outpaced P increases, reducing costs
Now please explain in your classical economics ways how BoA is driving inflation
This post was edited on 9/13/24 at 4:52 pm
Posted on 9/13/24 at 4:52 pm to conservativewifeymom
quote:To earn enough to live a comfortable life. To be able to afford a good home, food, health care, transportation, and enough left over to invest/save.
And the regressives are revealing themselves. Kindly define 'living wage' in non-woke terms for us please.
Posted on 9/13/24 at 5:01 pm to BuckI
quote:
To earn enough to live a comfortable life. To be able to afford a good home, food, health care, transportation, and enough left over to invest/save.
Cool, find something worthwhile to do with your life and make it happen
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