ExploitedAmerican t1_j8p67dd wrote
Reply to comment by Desperate_Expert_952 in Push to boost RI minimum wage loses steam as public's interest is pulled to housing crisis by cowperthwaite
Let’s let people starve and keep housing unaffordable. you’ve bought the dumbshit propaganda advocating against living wages paid for and supported by Wall Street grifters who make $2000-5000/ hour and who’s disregard of human life and insistence on undignified starvation wages coupled with relentless cost cutting are primarily responsible for the catastrophe in East Palestine Ohio
If we cared about inflation more then stock buybacks and dividends nixon never should have killed the gold standard but he was definitely one of the top 5 crooks of the century and since the gold standard was abolished our currency has devalued by over 6000% (the value of gold is the truest inflation metric since it has always been considered an inflation proof store of wealth)
Desperate_Expert_952 t1_j8p6qpq wrote
Ok buddy people get butt hurt on Reddit. To quell our inflationary situation of over 6% for years. Things need to happen. People must consume less, rates had to rise, unemployment had to rise. Economists agree raising wages would be counterproductive to combating inflation.
ExploitedAmerican t1_j8p96oo wrote
Economists are just a bunch of douche bags paid to defend the exploitation at all costs model of capitalism endorsed by the rich. you’re saying let’s keep minimum wage at a starvation level that makes most jobs not worth working but let’s keep stock buybacks going and executives making $2-5k an hour so they can buy another yacht and spend more on a weekend vacation than you or I will earn in 3 lifetimes of full time employment. Meanwhile the workers responsible for their profits can only afford to live with 3+ roommates in a squalid apartment. And millennial homeownership and reproduction statistics are lower than any other generational group in the last century
Seems obvious where the main problem lies there in and it’s definitely not paying people enough to actually have an incentive to perform labor. But instead of doing what’s right corporations now want to roll back child labor laws to illegally pay kids $6 an hour to work garbage retail jobs.
Corporations have been fueling inflation due to greed for decades and prices have risen through the roof but wages have not. It’s beyond hypocritical and downright delusionally biased against the working class to say that the cost of commodities goods and services must rise but labor is the one exception to that rule. If that doesn’t tell you it’s a rigged game you’re either oblivious or a shill for corporatist Wall Street military and prison industry profiteers.
Desperate_Expert_952 t1_j8p9tou wrote
When you start off your statement by vilifying and entire discipline it makes it hard to take anything you say seriously.
Pain was going to come in two forms we had to pick.
Runaway inflation due to crap fed monetary policies for decades and multiple presidents OR stagnation of wages and rising of rates.
What we needed to avoid was stagflation as seen in the Carter presidency.
Pain was going to occur and runaway inflation hurts the poor the most.
ExploitedAmerican t1_j8pb2b2 wrote
What we needed to avoid was legalizing stock buybacks, ending the gold standard, Shipping jobs to third world countries killing labor and unions so share holders can steal the surplus value produced by laborers instead of those companies taking care of those responsible for their luxurious silver spoon in mouth lives by providing them with real incentives to work hard. These days the only way to ensure you won’t have a retirement or own a home is to work as a blue or white collar laborer.
Even Einstein said that economics is not a real science and can not solve the issues associated with the modern world and capitalism. It is a school of thought that defends exploitation and explains its mathematical mechanisms. When you take away the exploitation apologist angle of economics you’re left with basic arithmetic nothing more.
Desperate_Expert_952 t1_j8p9y9d wrote
Oh and CPI was around 2% for years which is favorable to our nation and growth.
ExploitedAmerican t1_j8pcbvz wrote
Inflation statistics regurgitated by economics are a lie to protect the system from violent uprising. In 1970 it took 22 hours to earn an ounce of gold at minimum wage. Gold has retained its value for 2500 years. If you do the math in ancient Babylon it cost 1ounce of gold by modern weight standards to buy 350 loaves of bread. A sheckle bought 100-150 pounds of grain depending on the type of grain so if you do the math it equals 350 loaves to a Troy ounce of gold and today a quality loaf of bread costs $5-6 so I’ve ounce still buys 350 loaves. But it now takes between 125-250 hours to earn equal value. Minimum wage would need to be $84 to provide equal buying power as it did 51 years ago. Money was intentionally devalued to destroy the progress made by pro labor advocacy in the 50’s&60’s but the wages of the rich were adjusted for this meanwhile those doing the work have had the value of wealth produced by their labor looted so that a small select groups can live in extreme wealth. If you made $900,000 a day every day since Columbus landed in the Caribbean you wouldn’t be as wealthy as Elon musk who built his wealth on his fathers hand outs stolen wages from apartheid emerald miners
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