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Biden creates an economic crisis--Unemployment, Inflation, risk of STAGLFATION increasing


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13 hours ago, Governor said:

People on unemployment are getting 400/week in most southern states. That’s 10/hr. 
 

The Republican talking point is that adults are sitting home and won’t go back to work because they’re getting 400/week in unemployment. These are also the jobs available now and pay range that’s “supposedly” causing the labor shortage, which caused those industries to lobby R governors to end unemployment benefits early.

 

Are adults supposed to be taking jobs that only pay $10 or are those jobs entry-level jobs that shouldn’t pay adults enough to live and should be filled by kids? 
 

 

 

 

 

 

 

That's the state benefit. Doesn't the fed kick in another $600?

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14 minutes ago, Chef Jim said:

 

That's the state benefit. Doesn't the fed kick in another $600?

No. The Florida state benefit starts at like 90 bucks and I think tops out at 175. The average self-employed person was getting 100.

 

So, it’s 100 + 300 Fed. enhanced benefit.

 

The $600 was at the beginning of the pandemic and only last 16 weeks. That’s been long gone. Many people don’t realize that and assume everyone’s been getting $600 this whole time.

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6 minutes ago, Governor said:

No. The Florida state benefit starts at like 90 bucks and I think tops out at 175. The average self-employed person was getting 100.

 

So, it’s 100 + 300 Fed. enhanced benefit.

 

The $600 was at the beginning of the pandemic and only last 16 weeks. That’s been long gone. Many people don’t realize that and assume everyone’s been getting $600 this whole time.

 

What's the fascination with FL?  And you numbers are a bit off.  Max benefit in FL is $275 plus the $300 fed so it's $575 a week.  And that's one of the lowest benefits in the country.  This isn't a FL issue is a US issue. 

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5 hours ago, Governor said:

The unemployment story has been the most interesting issue throughout the pandemic. I don’t know how it all ends, but I know that things aren’t returning to how they were pre-pandemic, so small business owners should probably take notice.

Not really.  The labor shortage has been predictable given many people have been incentivized to stay home for a variety of reasons.  Once fear of the virus dissipates, enhanced federal unemployment benefits ends, federal rent and evictions moratorium ends, and kids go back to school full time we should get back to a pre pandemic normal.

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23 minutes ago, Chef Jim said:

 

What's the fascination with FL?  And you numbers are a bit off.  Max benefit in FL is $275 plus the $300 fed so it's $575 a week.  And that's one of the lowest benefits in the country.  This isn't a FL issue is a US issue. 

We aren’t really talking about 70k earners receiving the max $275. Self-employed people max out at $132 under PUA. Self-employed people don’t normally qualify for UI benefits.

11 minutes ago, Doc Brown said:

Not really.  The labor shortage has been predictable given many people have been incentivized to stay home for a variety of reasons.  Once fear of the virus dissipates, enhanced federal unemployment benefits ends, federal rent and evictions moratorium ends, and kids go back to school full time we should get back to a pre pandemic normal.

Back to normal with a $15 minimum wage, so not really a pre-pandemic normal.

 

Office jobs aren’t ever going back to normal. They’re getting their “hybrid” models ready right now. Many will be working from home permanently.

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5 minutes ago, Governor said:

We aren’t really talking about 70k earners receiving the max $275. Self-employed people max out at $132 under PUA. Self-employed people don’t normally qualify for UI benefits.

Back to normal with a $15 minimum wage, so not really a pre-pandemic normal.

 

Office jobs aren’t ever going back to normal. They’re getting their “hybrid” models ready right now. Many will be working from home permanently.

 

May I ask you what you anticipate a $15 minimum wage to accomplish? 

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4 minutes ago, Chef Jim said:

 

May I ask you what you anticipate a $15 minimum wage to accomplish? 

A 6-7 dollar per hour pay raise for low income retail folks.


When your neighbor is doing well and has money to spend, you’re doing well, and you local economy is doing well.

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6 minutes ago, Governor said:

A 6-7 dollar per hour pay raise for low income retail folks.


When your neighbor is doing well and has money to spend, you’re doing well, and you local economy is doing well.

 

You don't have a clue as to how economics works do you?  Where do you think that additional $6-$7 an hour comes from?  The sky?  I assume you love inflation? 

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11 minutes ago, Governor said:

A 6-7 dollar per hour pay raise for low income retail folks.


When your neighbor is doing well and has money to spend, you’re doing well, and you local economy is doing well.

What about all the people who make $15 an hour and work harder than those minimum wage jobs? 

 

Then they need $20 an hour 

 

Then the roofers who make $20 an hour.. they need $30 an hour

 

And the nurses who make $30 an hour.. they need $40 an hour 

 

Physical therapist making $40 an hour need 50

 

Plumbers making $70 an hour need $80

 

People who have never owned businesses think you could just increase minimum wages and salaries and there's no consequences.. there's a lot of consequences for the people paying the checks

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15 minutes ago, Chef Jim said:

 

You don't have a clue as to how economics works do you?  Where do you think that additional $6-$7 an hour comes from?  The sky?  I assume you love inflation? 

That boogeyman again?

5 minutes ago, Buffalo716 said:

What about all the people who make $15 an hour and work harder than those minimum wage jobs? 

 

Then they need $20 an hour 

 

Then the roofers who make $20 an hour.. they need $30 an hour

 

And the nurses who make $30 an hour.. they need $40 an hour 

 

Physical therapist making $40 an hour need 50

 

Plumbers making $70 an hour need $80

 

People who have never owned businesses think you could just increase minimum wages and salaries and there's no consequences.. there's a lot of consequences for the people paying the checks

Yes, it’s called “trickle up” economics. That’s what we’re doing this time after 5 failed attempts of “trickle down” economics.


4 million Americans quit their jobs in April — a 20-year record. Many of them worked in the retail sector, which is in the middle of a massive labor shortage.
 

https://www.businessinsider.com/labor-shortage-quit-job-openings-record-vacancies-labor-department-2021-6?op=1

 

Doesn’t seem like pre-pandemic normal to me.

Edited by Governor
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2 minutes ago, Governor said:

That boogeyman again?

Yes, it’s called “trickle up” economics. That’s what we’re doing this time after 5 failed attempts of “trickle down” economics.

There is nothing that shows that increasing minimum wages helps economies

 

Absolutely nothing

 

It puts a strain on small business owners , makes unfavorable working conditions, and lazy workers

 

People who deserve that $15 an hour, are now displaced because people doing less make what they make..  so they don't work as hard

 

And that gets trickled up through every single profession I just named 

 

Why does a low level entry level high school job deserve $15 an hour? It's called unskilled work for a reason

 

 

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2 minutes ago, Buffalo716 said:

There is nothing that shows that increasing minimum wages helps economies

 

Absolutely nothing

 

It puts a strain on small business owners , makes unfavorable working conditions, and lazy workers

 

People who deserve that $15 an hour, are now displaced because people doing less make what they make..  so they don't work as hard

 

And that gets trickled up through every single profession I just named 

 

Why does a low level entry level high school job deserve $15 an hour? It's called unskilled work for a reason

 

 

Because every American adult deserves a living wage.

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3 minutes ago, Governor said:

Because every American adult deserves a living wage.

This is America. You get what you put in

 

You can go from the ghetto, to being the top brain surgeon in the world

 

If you work your ass off... 

 

If you want to make more than $15 an hour, apply yourself in your life so that you're worth that... If you have no skills you're going to get paid in unskilled labor wage... Which is under $15 an hour

 

If you learn skills you'll get paid more. Always work that way in this country 

 

If you want a good job you need to work for that good job

Edited by Buffalo716
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57 minutes ago, Governor said:

Back to normal with a $15 minimum wage, so not really a pre-pandemic normal.

 

Office jobs aren’t ever going back to normal. They’re getting their “hybrid” models ready right now. Many will be working from home permanently.

Didn't know they passed that on a federal level.  As far as wage growth, it slows during recessions and there's always a period of above normal wage growth to get back to where it would've been if there wasn't a recession.  That's what your seeing in the leisure and hospitality industry right now.

 

Edited by Doc Brown
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26 minutes ago, Governor said:

That boogeyman again?

 

 

Inflation is a boogeyman??  You're not that clueless are you? 

19 minutes ago, Governor said:

Because every American adult deserves a living wage.

 

Maybe they do but it's not up to the government to determine what that is.  Especially the federal government.   A "living wage" is vastly different from the backwaters of the south vs downtown LA.

 

And by the way what does a living wage even mean.  A bum living in a cardboard box brings in $20 buck a day.  He's living right?  :rolleyes:

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8 hours ago, Doc Brown said:

Didn't know they passed that on a federal level.  As far as wage growth, it slows during recessions and there's always a period of above normal wage growth to get back to where it would've been if there wasn't a recession.  That's what your seeing in the leisure and hospitality industry right now.

 

Where do you live? Wages jumped at least 5 dollars an hour here in NJ just in the last 1.5 years. They’ve actually doubled since 2011 or so. You in the south?

 

Are you talking about the 2008 recession? Think about it this way. From 1990 to 2006 wages went up like 2 dollars. Then they obviously stayed flat, or even decreased during the crash, then started to creep back up in 2017, then obviously took a huge leap recently. We’re a good 6 dollars ahead of where we’d naturally be without recessions here in NJ because of state legislation. Basic warehouse jobs that pay 11/12 in NC and FL are starting at 19/20 now in NJ. 
 

They’re still too low, but that’s a huge jump in a very short amount of time.

Edited by Governor
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5 hours ago, Governor said:

Where do you live? Wages jumped at least 5 dollars an hour here in NJ just in the last 1.5 years. They’ve actually doubled since 2011 or so. You in the south?

 

Are you talking about the 2008 recession? Think about it this way. From 1990 to 2006 wages went up like 2 dollars. Then they obviously stayed flat, or even decreased during the crash, then started to creep back up in 2017, then obviously took a huge leap recently. We’re a good 6 dollars ahead of where we’d naturally be without recessions here in NJ because of state legislation. Basic warehouse jobs that pay 11/12 in NC and FL are starting at 19/20 now in NJ. 
 

They’re still too low, but that’s a huge jump in a very short amount of time.

Sky-high rents and housing costs, outrageous state, local, and property taxes, and a generally high cost of living absorb that regional wage differential and then some.  The NJ economy is so great that it has one of the highest rates of young adults living with their parents (Pre, during, or after COVID) because its too expensive and almost impossible to live on their own.  Seeing almost every house in the neighborhood with 4, 5, or 6 cars in the driveway is a consequence of that.  The state has a net-negative loss of population on a regular basis.  And you do realize those great wage costs get passed on to the customer?  So there is really no benefit to higher wages when your cost of living is even higher.    

 

 

 

NJ?  You picked one of the worst examples you could.

 

 

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2 hours ago, All_Pro_Bills said:

Sky-high rents and housing costs, outrageous state, local, and property taxes, and a generally high cost of living absorb that regional wage differential and then some.  The NJ economy is so great that it has one of the highest rates of young adults living with their parents (Pre, during, or after COVID) because its too expensive and almost impossible to live on their own.  Seeing almost every house in the neighborhood with 4, 5, or 6 cars in the driveway is a consequence of that.  The state has a net-negative loss of population on a regular basis.  And you do realize those great wage costs get passed on to the customer?  So there is really no benefit to higher wages when your cost of living is even higher.    

 

 

 

NJ?  You picked one of the worst examples you could.

 

 

I picked the #1 state to live in. Rent for apartments is about 100-200 more than NC. A low-wage worker doesn’t pay property taxes or buy expensive homes.

 

“Annual WalletHub survey ranks New Jersey in the top 10 for safety, quality of life and education & health.”

 

https://www.nbcnewyork.com/news/local/new-jersey-is-americas-best-state-to-live-in-new-survey-says/3107116/

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2 hours ago, All_Pro_Bills said:

Sky-high rents and housing costs, outrageous state, local, and property taxes, and a generally high cost of living absorb that regional wage differential and then some.  The NJ economy is so great that it has one of the highest rates of young adults living with their parents (Pre, during, or after COVID) because its too expensive and almost impossible to live on their own.  Seeing almost every house in the neighborhood with 4, 5, or 6 cars in the driveway is a consequence of that.  The state has a net-negative loss of population on a regular basis.  And you do realize those great wage costs get passed on to the customer?  So there is really no benefit to higher wages when your cost of living is even higher.    

 

 

 

NJ?  You picked one of the worst examples you could.

 

 

I think that most of you go off of memory of 10 years ago and don’t realize how much has changed since then. You could get an apartment in Wilmington or Raleigh for $600 a month back then. Those days are LONG gone. They’re 1200-1500 a month now. Same goes for Florida. We already compared the rents a few days ago on this board. 
 

The cost of living in those southern states caught up to NJ.
 

NJ does lack available apartments to live in, which is why you would see young people moving back into their parent’s mansions. It just isn’t an “apartment dweller” state since there isn’t a large working poor population like you see in NC and FL.

Edited by Governor
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