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2010-06-01 Economy

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Posted by Beavis 2010-06-01 08:57|| || Front Page|| [4 views ] Top

#1 It's like there's some sort of rule that say when the government says you have to pass a test to be employed (have productivity above the min wage) then unemployment increases.

Posted by Bright Pebbles 2010-06-01 09:54|| 2010-06-01 09:54|| Front Page Top

#2 The concept of minimum wage has become a joke because of the reckless printing of currency. I entered the work force in 1962 and minimum wage was $2 per hour. I rented a 2 bedroom apartment for about $80 per month. My car payment was $67 per month. Gasoline was $.25 a gallon. In short it was possible to live on and fully support yourself on minimum wage. I could put money in savings. Now $7.25 per hour won't come close to supporting anyone. Now the same apartment I rented for $80 is renting for $1,350. Cars cost at least 10 times as much and gasoline is over $3 per gallon. If the idea of minimum wage was to set a standard by which an unskilled worker can be self supporting the concept has failed miserably. I'm still here in California and to live as I did in the 60s on minimum wage it would need to be about $22 per hour in todays money. The truth be told no business can afford to pay unskilled workers $22 per hour. There are also a lot of jobs that do not justify $7.25 per hour or $8.50 as it is here. These jobs are exported to 3rd world countries by manufacturers to stay competative. The cause of this is our government inflating the currency so much that the real buying power of the dollar has diminished far faster than wages have increased. Obummer's spending spree has doubled the money supply but the productive economy has decreased slightly making the money in circulation worth half as much. When that comes down to the level of the unskilled worker his $7.25 per hour will only buy half as much as it does now. That worker has been put way below the poverty level by our governments deficit spending.

Posted by Dave 2010-06-01 12:09|| 2010-06-01 12:09|| Front Page Top

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