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

[Governor]

[Chef Jim]

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?

[Governor]

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.

[Chef Jim]

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. 

[Doc Brown]

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.

[Governor]

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.

[Chef Jim]

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? 

[Governor]

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.

[Chef Jim]

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? 

[Buffalo716]

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

[Governor]

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 July 1, 2021 by Governor

[Buffalo716]

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

 

 

[Governor]

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.

[Buffalo716]

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 July 1, 2021 by Buffalo716

[Doc Brown]

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 July 1, 2021 by Doc Brown

[Chef Jim]

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?  

[Governor]

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 July 2, 2021 by Governor

[All_Pro_Bills]

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.

 

 

[Governor]

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/

[Governor]

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 July 2, 2021 by Governor

[Tiberius]

850k new jobs added 

[All_Pro_Bills]

5 minutes ago, Governor said:

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.

Sure "private" costs are significantly more equitable but you are omitting the impact of the cost of government and taxes which are higher in "liberal" states like NJ.  Is a homeowner in Raleigh paying $14,000 a year in property taxes?  NJ has the highest effective property tax rate at 2.49%.  NC is .77% about 31% of the NJ rate.  Add in some of the highest personal income tax rates and motor fuel tax rates and there you have it.  Higher cost of living.   To add insult to injury the Trump tax "reform" screwed everybody by limiting deductions.     

[SoCal Deek]

25 minutes ago, Governor said:

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.

What’s your point? Is there an ultra high vacancy rate? Don’t landlords set rent based at least somewhat on what people are capable of paying? 

[Governor]

11 minutes ago, All_Pro_Bills said:

Sure "private" costs are significantly more equitable but you are omitting the impact of the cost of government and taxes which are higher in "liberal" states like NJ.  Is a homeowner in Raleigh paying $14,000 a year in property taxes?  NJ has the highest effective property tax rate at 2.49%.  NC is .77% about 31% of the NJ rate.  Add in some of the highest personal income tax rates and motor fuel tax rates and there you have it.  Higher cost of living.   To add insult to injury the Trump tax "reform" screwed everybody by limiting deductions.     

I’ve been back and forth a dozen times over the last 20 years or so and I’ve come to the conclusion that you really do get what you pay for. I’d rather pay more in taxes and have good schools and state services. Add a higher salary on top and you can get ahead quite a bit easier. The days of cheap southern living are gone. Working people are priced out of these areas now. Teacher pay is absolutely horrendous in the south. I wouldn’t be caught dead in a state like Texas.

[716er]

Good numbers reported

[Governor]

6 minutes ago, 716er said:

Good numbers reported

Let’s go Uncle Joe!!!!!

[Governor]

They aren’t coming back unless you pay them.

 

 

 

“Small businesses added 215,000 of those jobs, even though the economic activity taking place there — particularly at restaurants and bars, stores and hotels — has been constrained as business owners struggle to compete for workers with big-box retailers and chain restaurants for hourly workers.”

[unbillievable]

52 minutes ago, SoCal Deek said:

What’s your point? Is there an ultra high vacancy rate? Don’t landlords set rent based at least somewhat on what people are capable of paying? 

 

Liberals don't know how markets work. The "party of science" doesn't understand basic economics.

[Doc Brown]

On 5/7/2021 at 1:16 PM, Over 29 years of fanhood said:

Build back bloat er..

 

What a disaster. The economy is getting worse as we get more vaccinated. 
 

Sitting here Incredulous that the leadership actually got even more incompetent than the last. I thought that was impossible. 

This is the danger of hot takes based off one job report.

[reddogblitz]

7 hours ago, Governor said:

I’ve been back and forth a dozen times over the last 20 years or so and I’ve come to the conclusion that you really do get what you pay for. I’d rather pay more in taxes and have good schools and state services. Add a higher salary on top and you can get ahead quite a bit easier. The days of cheap southern living are gone. Working people are priced out of these areas now. Teacher pay is absolutely horrendous in the south. I wouldn’t be caught dead in a state like Texas.

 

My niece (late 20s) and her new husband in Texas bought a big house in a Dallas suburb and they are far from rolling in dough.  

[Niagara Bill]

On 7/1/2021 at 4:50 PM, Chef Jim said:

 

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

 

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?  

Yes, a living wage of perks off book, no tax, provided under the table by the president, is vastly different when you view it from a cell.😁

[Irv]

What a mess. How could things go so bad so quickly?   I didn’t realize Biden was this incompetent. Man was I wrong.  What a mess.  

[unbillievable]

31 minutes ago, reddogblitz said:

 

My niece (late 20s) and her new husband in Texas bought a big house in a Dallas suburb and they are far from rolling in dough.  

As more people flee the blue states, housing prices have been rising dramatically.

[reddogblitz]

9 hours ago, unbillievable said:

As more people flee the blue states, housing prices have been rising dramatically.

 

Yes. My nephew who is trying to buy a house in Nashville is running into that.

[All_Pro_Bills]

22 hours ago, Governor said:

I’ve been back and forth a dozen times over the last 20 years or so and I’ve come to the conclusion that you really do get what you pay for. I’d rather pay more in taxes and have good schools and state services. Add a higher salary on top and you can get ahead quite a bit easier. The days of cheap southern living are gone. Working people are priced out of these areas now. Teacher pay is absolutely horrendous in the south. I wouldn’t be caught dead in a state like Texas.

So we can agree to disagree here.  I don't see it like you and I don't think I'm getting what I'm paying for here.  Quite the contrary.  A lot of higher income people agree with me and are exiting the State on a consistent basis.  These are people that pay the majority of the State's income tax receipts.  Over time this is eroding the tax base and will force State and local governments to make some hard choices.  Hard choices they've avoiding making for a long time.  This is true of a lot of States.  

 

And frankly, you sound like my niece.  She's a net benefit receiver of the system and thinks its just fine.  While I don't know anything about you personally I suspect your situation is closer to hers than it is mine as I've yet to meet a homeowner that is elated to pay the highest property taxes in the nation.  Taxes which if you own or rent you pay directly or indirectly.  Or maybe you directly benefit from out of control government spending?  

Edited July 3, 2021 by All_Pro_Bills

[Governor]

5 minutes ago, All_Pro_Bills said:

So we can agree to disagree here.  I don't see it like you and I don't think I'm getting what I'm paying for here.  Quite the contrary.  A lot of higher income people agree with me and are exiting the State on a consistent basis.  These are people that pay the majority of the State's income tax receipts.  Over time this is eroding the tax base and will force State and local governments to make some hard choices.  Hard choices they've avoiding making for a long time.  This is true of a lot of States.  

 

And frankly, you sound like my niece.  She's a net benefit receiver of the system and thinks its just fine.  While I don't know anything about you personally I suspect your situation is closer to hers than it is mine as I've yet to meet a homeowner that is elated to pay the highest property taxes in the nation.  Taxes which if you own or rent you pay directly or indirectly.   

Conservatives of all income levels are leaving the state and they’re being replaced with younger wealth. Have you taken a ride through Madison, Short Hills, or West Orange lately?
 

I retired at age 42.

[Orlando Tim]

8 minutes ago, All_Pro_Bills said:

So we can agree to disagree here.  I don't see it like you and I don't think I'm getting what I'm paying for here.  Quite the contrary.  A lot of higher income people agree with me and are exiting the State on a consistent basis.  These are people that pay the majority of the State's income tax receipts.  Over time this is eroding the tax base and will force State and local governments to make some hard choices.  Hard choices they've avoiding making for a long time.  This is true of a lot of States.  

 

And frankly, you sound like my niece.  She's a net benefit receiver of the system and thinks its just fine.  While I don't know anything about you personally I suspect your situation is closer to hers than it is mine as I've yet to meet a homeowner that is elated to pay the highest property taxes in the nation.  Taxes which if you own or rent you pay directly or indirectly.  Or maybe you directly benefit from out of control government spending?  

Governor and I have gone through this many times but he thinks that high taxes are good because government is so efficient. He also thinks that the areas shutting schools down due to depopulation are better than those that are growing. The only thing he is correct on is that the rents in Orlando area have gone nuts due to amount of growth which is why I am so glad I bought my house when I did. 

[Governor]

24 minutes ago, Buffalo Timmy said:

Governor and I have gone through this many times but he thinks that high taxes are good because government is so efficient. He also thinks that the areas shutting schools down due to depopulation are better than those that are growing. The only thing he is correct on is that the rents in Orlando area have gone nuts due to amount of growth which is why I am so glad I bought my house when I did. 

Yes, I like government EXCEPT for this freaking DMV here. I’ve never seen anything quite like this before. Lol.

 

I drove to the DMV to change over a title and the girl behind the counter said I had to call the DMV.

 

Why would I call the DMV? I’m at the DMV. This isn’t the DMV?

Edited July 3, 2021 by Governor

[Orlando Tim]

37 minutes ago, Governor said:

Yes, I like government EXCEPT for this freaking DMV here. I’ve never seen anything quite like this before. Lol.

 

I drove to the DMV to change over a title and the girl behind the counter said I had to call the DMV.

 

Why would I call the DMV? I’m at the DMV. This isn’t the DMV?

How anyone likes government is beyond me, but I appreciate the honesty 

[Governor]

25 minutes ago, Buffalo Timmy said:

How anyone likes government is beyond me, but I appreciate the honesty 

It’s amazing to me how people get so bent out of shape about a few thousand dollars in property tax and are willing to give up quality of life over it.