[The-Shoveler]

Not saying it is correct (or incorrect)

Just saying it’s going to happen.

In Europe they have a tiered system,

High school/college age get a lower minimum

25 years gets a living wage.

You got robots doing what used to be $25-50 dollar an hour work. People need to live, guess what they revolt.

Like I said, not saying it’s right, just inevitable

[The-Shoveler]

I am still predicting wage riots in the next few years.
Anyway in NY they’re back at it.

In much the same vein, a union-backed, New York-based community action group is trying for the third time since November to more than double the minimum wage of workers in the fast food industry via one-day walkouts they’ve organized in seven cities.
As my co-host Jeff Macke and I discuss in the attached video, in addition to their demand to earn a living wage, the group Fast Food Forward is, once again, also calling for better benefits, more hours and, unsurprisingly, the right to unionize.

[The-Shoveler]

“Additionally, this healthcare debacle is why many of us are staunchly opposed to a for-profit healthcare system. There are far too many conflicts of interest in such a system, and we are NOT getting better care as a result.”

+1

”
I view low wages as an external cost like pollution. Saying you need to pay low wages is like saying you must be allowed to pollute in order to compete.

They’ll whine that ALL those jobs will go away, but they won’t. Only some will. So instead of having the 100 people at the poverty wage paying place all dependent on the dole for food stamps and health care, we’d have some of them on the dole and many of the remainder would be working at the place that paid real wages and still made decent stuff that was worth the price paid. We’d all have to do with less disposable stuff.”

+1

Great posts guys

Yea and I need to set hard stops too.

[The-Shoveler]

Well I thought it was going to be Stockton to be the first to default on pensions, but it looks like Detroit has a much better argument and is in much more dire situation.

Once that is done I think there will be an avalanche of defaults coming IMO.

Like I said I fully expect the Fed to step in and bail out the pensioners but with some Cap’s on maximum benefits (maybe 50-70K per year).

[The-Shoveler]

[quote=SD Realtor]Taking odds on federal taxpayer money bailing out pensions.[/quote]

No fair, I already made that prediction several months ago But I was talking about the city of L.A.

But Man I just killed a big rattle snake outside my back door so there (I know but I had to tell someone)

And yes I did it with a shovel.

[The-Shoveler]

I would even take a WAG that wage inflation would probably benefit 80-85% of the U.S. population just looking at the debt levels.

especially at the lower end of the wage scale.

I know I know, they will hire less burger flippers if we do that.

[The-Shoveler]

Well anyway, Wage inflation for the bottom 80% has been very low and falling behind, The Gov’s (both local and FED) have debts that are near impossible to pay without some serious inflation (or default).

I guess we will see.

[The-Shoveler]

Right then we reduce wages as well,

Make the money in the bank worth a lot more.
Heck then cash hording will come back in style.

Too bad about the student loan debt.

[The-Shoveler]

It’s more about reducing the years in labor it takes to pay off your current debt than anything else.

Or reducing the value of your current debt.

[The-Shoveler]

Livin, SDR,

Anyway I think You also have to throw in the Gov’s (local and Fed) interest in paying (or monetizing) it’s debt into the equation.
You got CalPers already behind and getting further while demanding Pay me first and expect 7% or better returns from it’s investments. FED not doing much better job.

think there will be keen interest in getting wage inflation higher somehow(My two cents).

This should be interesting.

I don’t see how you can get too much higher mortgage rates without wage inflation and keep the all the balls in the air.

[The-Shoveler]

Hmmm , I guess you need to do some research into those type of deals, I have seen it the other way as well where they did not restrict the area not paying MR from the same schools,

I would be surprised especially once you hit the middle/high school level as they are much larger schools in general.

San Marco’s new high school is enormous.

[The-Shoveler]

Don’t know much about that area really, but in general I would recommend finding a small builder (or Spec, home in older neighborhood), That way you may be able to avoid the MR and if luckily the HOA as well and still get a newer designed home.
I have seen small builder next to the larger development (KB/LEN/Toll etc…) that go to the same schools, still walk to same parks etc.. but have no MR or HOA and sell a lot of time for a better price even (better quality of home as well).
One side of street 3K a year MR/ other side of street no MR, not fair ? maybe.

[The-Shoveler]

Food Stamps, Disability etc.., it’s all a mask so no one notices that wages for 80% of the work force just have not kept up with inflation (painfully calculated to show minimal possible).

Basically the Fed Gov is subsidizing the Wal-Mart and J-Box Type workers And the Displaced over 55 workers.

[The-Shoveler]

I respectfully disagree, If we calculated the CPI today the same way we did in 1970, inflation (CPI measurement) would be significantly higher. I think 15 is much closer to the real inflation rate,

[The-Shoveler]

Minimum wage really needs to be about $15.00 an hour now just to get back to where it was in the 70’s adjusted for inflation.
There is no inflation adjustment for minimum wage currently and this is a big problem no one wants to hear.

I predict there will be wage riots in the near future.

[Author]

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