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Started By
Message
re: The service industries are decimated
Posted on 4/23/21 at 1:51 pm to cahoots
Posted on 4/23/21 at 1:51 pm to cahoots
quote:
Unskilled wage increases aren't offset by higher prices. When you start paying McDonald's workers double, Big Macs don't cost twice as much.
Who said this? I didn’t. fricking idiot.
0
Posted on 4/23/21 at 1:53 pm to cahoots
quote:I don't think this is what 808 said. I'm pretty sure he said as wages increase, so will prices.
When you start paying McDonald's workers double
And you essentially agree with this by saying:
quote:So as marginal increases in wages occur, so will marginal prices increase.
Labor is usually some fraction of the total cost of a good or service
But then you strawmanned all over your stomach by inserting this "paying McDonald's workers double" nonsense.
This post was edited on 4/23/21 at 1:54 pm
Posted on 4/23/21 at 1:54 pm to Bunk Moreland
quote:
Yikes, this is going through early September? These folks aren't going to have jobs to come back to in the fall.
Yep. When the free stuff runs out, they are going to be way up shite-creek without a paddle.
Posted on 4/23/21 at 2:04 pm to Auburn1968
quote:
When the free stuff runs out
The government won't let it. I would be interested to see the metrics on how many more people or now solely dependent on government assistance. The lockdowns may have been healthy from an efficiency standpoint as many businesses had to adapt or automate to stay afloat but it's a disaster from a human labor standpoint.
It accelerated a push towards automation that our population isn't prepared for. UBI is going end up becoming a reality from this and it feels intentional.
Posted on 4/23/21 at 2:05 pm to V Bainbridge
People keep talking about UBI. There’s not going to be UBI. There’s going to be more welfare.
Posted on 4/23/21 at 2:08 pm to Abraham H Parnassis
(no message)
This post was edited on 4/23/21 at 4:47 pm
Posted on 4/23/21 at 2:14 pm to Strannix
My guess would be 'until mid November, 2022'
Posted on 4/23/21 at 2:19 pm to cahoots
quote:
This is exactly what happens in an advanced economy organically. People command higher wages, things cost more, but everyone is better off.
The problem here is, much of this is being pushed IN-organically.
Posted on 4/23/21 at 2:32 pm to Y.A. Tittle
(no message)
This post was edited on 4/23/21 at 4:47 pm
Posted on 4/23/21 at 2:35 pm to the808bass
quote:
People keep talking about UBI. There’s not going to be UBI. There’s going to be more welfare.
That's what welfare is. UBI is just the verbal packaging they will use to sell it to the masses so it sounds more deserved.
Nobody making decent money will buy into the illusion that they will get anything from it.
Posted on 4/23/21 at 2:36 pm to V Bainbridge
quote:
UBI is just the verbal packaging they will use to sell it to the masses so it sounds more deserved.
UBI stands for “universal.” It does not stand for “means-tested.”
Posted on 4/23/21 at 2:38 pm to cahoots
quote:
There are good arguments against minimum wage laws, but "things will cost more" is dumb.
How dumb are you?
Posted on 4/23/21 at 2:41 pm to CoachChappy
quote:
People are getting paid more/same to stay home.
Sounds like places need to pay more.
Posted on 4/23/21 at 2:41 pm to 0
quote:
Sounds like places need to pay more.
They will.
Posted on 4/23/21 at 2:43 pm to the808bass
quote:
UBI stands for “universal.” It does not stand for “means-tested.
Yeah. Do you think the Patriot Act is patriotic? The Affordable Care Act affordable? What are you trying to prove here. We already crossed the rubicon with the name game.
Posted on 4/23/21 at 2:44 pm to the808bass
(no message)
This post was edited on 4/23/21 at 4:48 pm
Posted on 4/23/21 at 2:47 pm to cahoots
And you’re buying into the argument that artificially increased wages means more buying power.
Posted on 4/23/21 at 2:55 pm to the808bass
(no message)
This post was edited on 4/23/21 at 4:48 pm
Posted on 4/23/21 at 2:56 pm to cahoots
What do “organically” and “market forces” mean?
Nothing about what’s happening now is organic or market forces.
Nothing about what’s happening now is organic or market forces.
Posted on 4/23/21 at 2:59 pm to Strannix
quote:
How long are we going to pay people to sit at home?
But all those 20 year old servers are still way too scared of Covid to come back. Don’t be a Nazi and make them
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